Asia: Aluminium Alloy Wire Market 2024

Aluminium Alloy Wire Market Size in Asia

The Asian aluminium alloy wire market contracted slightly to $X in 2022, falling by -1.8% against the previous year. Over the period under review, consumption showed a slight downturn. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Aluminium Alloy Wire Production in Asia

In value terms, aluminium alloy wire production shrank modestly to $X in 2022 estimated in export price. In general, production recorded a mild descent. The most prominent rate of growth was recorded in 2014 with an increase of 4.7% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Aluminium Alloy Wire Exports

Exports in Asia

In 2022, shipments abroad of aluminium alloy wire decreased by -5.7% to X tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, aluminium alloy wire exports dropped modestly to $X in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.5% against 2018 indices. The growth pace was the most rapid in 2021 when exports increased by 45%. As a result, the exports attained the peak of $X, and then shrank slightly in the following year.

Exports by Country

In 2022, China (X tons), Bahrain (X tons) and Malaysia (X tons) was the main exporter of aluminium alloy wire in Asia, generating 68% of total export. Japan (X tons) took the next position in the ranking, followed by India (X tons) and Vietnam (X tons). All these countries together took approx. 21% share of total exports. Thailand (X tons) held 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 Thailand (with a CAGR of +56.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest aluminium alloy wire supplier in Asia, comprising 39% of total exports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total exports. It was followed by Bahrain, with a 14% share.

In China, aluminium alloy wire exports increased at an average annual rate of +7.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+12.7% per year) and Bahrain (-5.5% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, with an increase of 3.6% against the previous year. Overall, the export price recorded slight growth. The growth pace was the most rapid in 2021 an increase of 15% against the previous year. Over the period under review, the export prices attained the maximum 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 China ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the other leaders experienced more modest paces of growth.

Aluminium Alloy Wire Imports

Imports in Asia

In 2022, overseas purchases of aluminium alloy wire decreased by -12.4% to X tons for the first time since 2018, thus ending a three-year rising trend. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.9% against 2018 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 31%. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, aluminium alloy wire imports reduced modestly to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.9% against 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of 40%. As a result, imports reached the peak of $X, and then shrank modestly in the following year.

Imports by Country

The countries with the highest levels of aluminium alloy wire imports in 2022 were Cambodia (X tons), Malaysia (X tons), China (X tons), Turkey (X tons), Japan (X tons), South Korea (X tons), Vietnam (X tons), Thailand (X tons), India (X tons), Saudi Arabia (X tons), Indonesia (X tons) and Bahrain (X tons), together recording 87% of total import.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +47.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and Cambodia ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 38% of total imports.

Cambodia, with a CAGR of +49.1%, saw the highest rates of growth with regard to 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

In 2022, the import price in Asia amounted to $X per ton, rising by 9.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 14%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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 China ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform