ASEAN: Stranded Wire Market 2024

Stranded Wire Market Size in ASEAN

The ASEAN stranded wire market shrank significantly to $X in 2021, falling by -20.6% against the previous year. Over the period under review, consumption recorded a perceptible reduction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Stranded Wire Production in ASEAN

In value terms, stranded wire production totaled $X in 2021 estimated in export price. Overall, production recorded a mild decline. The pace of growth was the most pronounced in 2018 with an increase of 12%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Stranded Wire Exports

Exports in ASEAN

In 2021, exports of stranded wire, ropes and cables in ASEAN surged to X tons, rising by 33% compared with the year before. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, stranded wire exports soared to $X in 2021. Total exports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons) and Thailand (X tons) represented roughly 71% of total exports in 2021. It was distantly followed by Malaysia (X tons) and Indonesia (X tons), together comprising a 26% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +21.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Indonesia ($X) were the countries with the highest levels of exports in 2021, together accounting for 84% of total exports.

Vietnam, with a CAGR of +18.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, growing by 13% against the previous year. Overall, the export price, however, continues to indicate a noticeable decline. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-0.8%), while the other leaders experienced a decline in the export price figures.

Stranded Wire Imports

Imports in ASEAN

After two years of decline, supplies from abroad of stranded wire, ropes and cables increased by 2.4% to X tons in 2021. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 10%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, stranded wire imports surged to $X in 2021. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons), distantly followed by Vietnam (X tons), Malaysia (X tons), the Philippines (X tons), Singapore (X tons) and Indonesia (X tons) represented the major importers of stranded wire, ropes and cables, together committing 93% of total imports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +24.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 65% share of total imports. Singapore, Indonesia, Malaysia and Cambodia lagged somewhat behind, together accounting for a further 32%.

Cambodia, with a CAGR of +25.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, jumping by 20% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform