ASEAN: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in ASEAN

In 2022, the ASEAN non-alloy steel u-section market increased by 3.4% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Non-Alloy Steel U-Section Production in ASEAN

In value terms, non-alloy steel u-section production reduced slightly to $X in 2022 estimated in export price. Overall, production recorded a abrupt shrinkage. The growth pace was the most rapid in 2018 when the production volume increased by 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Non-Alloy Steel U-Section Exports

Exports in ASEAN

In 2022, shipments abroad of u-sections of non-alloy steel increased by 35% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports showed a mild expansion. The pace of growth was the most pronounced in 2018 with an increase of 102%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, non-alloy steel u-section exports soared to $X in 2022. Overall, exports showed a notable increase. The pace of growth appeared the most rapid in 2018 with an increase of 133%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Thailand represented the major exporter of u-sections of non-alloy steel in ASEAN, with the volume of exports amounting to X tons, which was near 55% of total exports in 2022. Singapore (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons). All these countries together held near 43% share of total exports. Vietnam (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Malaysia (with a CAGR of +7.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest non-alloy steel u-section supplying countries in ASEAN were Thailand ($X), Singapore ($X) and Malaysia ($X), together comprising 99% of total exports.

Singapore, with a CAGR of +5.7%, recorded the highest rates of growth with regard to the value of exports, among 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 2022, growing by 5.7% against the previous year. Export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section export price increased by +46.6% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 39% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.5%), while the other leaders experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports in ASEAN

In 2022, supplies from abroad of u-sections of non-alloy steel increased by 15% to X tons for the first time since 2018, thus ending a three-year declining trend. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 44% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, non-alloy steel u-section imports stood at $X in 2022. In general, imports showed a pronounced expansion. The growth pace was the most rapid in 2018 when imports increased by 49% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

In 2022, Malaysia (X tons) and Singapore (X tons) were the main importers of u-sections of non-alloy steel in ASEAN, together reaching near 72% of total imports. The Philippines (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (5.5%). The following importers - Indonesia (X tons) and Myanmar (X tons) - together made up 4.7% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +31.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and the Philippines ($X) were the countries with the highest levels of imports in 2022, with a combined 87% share of total imports.

The Philippines, with a CAGR of +30.4%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2022, the import price in ASEAN amounted to $X per ton, almost unchanged from the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 34%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform