ASEAN: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2025

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in ASEAN

In 2021, the ASEAN market for ribbed or other deformed wire rod of non-alloy steel increased by 5.3% to $X, rising for the fourth consecutive year after four years of decline. The market value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in ASEAN

In value terms, deformed non-alloy steel wire rod production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 40% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in ASEAN

For the tenth consecutive year, ASEAN recorded growth in overseas shipments of ribbed or other deformed wire rod of non-alloy steel, which increased by 35% to X tons in 2021. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 483%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, deformed non-alloy steel wire rod exports soared to $X in 2021. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 457%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2021, Malaysia (X tons) was the major exporter of ribbed or other deformed wire rod of non-alloy steel, mixing up 63% of total exports. Vietnam (X tons) took the second position in the ranking, distantly followed by Singapore (X tons). All these countries together took near 35% share of total exports. Lao People's Democratic Republic (X tons) took a minor share of total exports.

Exports from Malaysia increased at an average annual rate of +100.6% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+337.1%), Singapore (+59.8%) and Vietnam (+39.3%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +337.1% from 2012-2021. Malaysia (+56 p.p.) and Lao People's Democratic Republic (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by -53% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest deformed non-alloy steel wire rod supplier in ASEAN, comprising 62% of total exports. The second position in the ranking was held by Vietnam ($X), with a 27% share of total exports. It was followed by Singapore, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value in Malaysia totaled +90.9%. In the other countries, the average annual rates were as follows: Vietnam (+39.2% per year) and Singapore (+56.1% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, picking up by 28% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+11.8%), while the other leaders experienced a decline in the export price figures.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in ASEAN

In 2021, the amount of ribbed or other deformed wire rod of non-alloy steel imported in ASEAN skyrocketed to X tons, jumping by 262% against 2020 figures. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, deformed non-alloy steel wire rod imports surged to $X in 2021. In general, imports enjoyed modest growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore prevails in imports structure, recording X tons, which was approx. 94% of total imports in 2021. Cambodia (X tons) held a little share of total imports.

Singapore was also the fastest-growing in terms of the ribbed or other deformed wire rod of non-alloy steel imports, with a CAGR of +3.9% from 2012 to 2021. Cambodia (-18.4%) illustrated a downward trend over the same period. Singapore (+23 p.p.) significantly strengthened its position in terms of the total imports, while Cambodia saw its share reduced by -16.2% from 2012 to 2021, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in ASEAN, comprising 94% of total imports. The second position in the ranking was taken by Cambodia ($X), with a 2.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore stood at +4.6%.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, with an increase of 27% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while Cambodia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.7%).

Source: IndexBox Platform