Asia-Pacific: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in Asia-Pacific

After two years of decline, the Asia-Pacific cored arc-welding wire market increased by 2% to $X in 2021. Over the period under review, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 6%. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cored Arc-Welding Wire Production in Asia-Pacific

In value terms, cored arc-welding wire production stood at $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 11% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Cored Arc-Welding Wire Exports

Exports in Asia-Pacific

In 2021, approx. X tons of cored arc-welding wire were exported in Asia-Pacific; rising by 18% against 2020. The total export volume increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern 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.

In value terms, cored arc-welding wire exports skyrocketed to $X in 2021. Overall, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) was the largest exporter of cored arc-welding wire, constituting 41% of total exports. It was distantly followed by South Korea (X tons), Vietnam (X tons) and Japan (X tons), together committing a 51% share of total exports. Malaysia (X tons), Singapore (X tons) and Taiwan (Chinese) (X tons) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +13.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest cored arc-welding wire supplying countries in Asia-Pacific were China ($X), South Korea ($X) and Vietnam ($X), together accounting for 74% of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +8.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, surging by 9.7% against the previous year. Overall, the export price, however, continues to indicate a perceptible downturn. The level of export peaked at $X per ton in 2012; however, from 2013 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 ($X per ton), while Vietnam ($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 (+0.3%), while the other leaders experienced a decline in the export price figures.

Cored Arc-Welding Wire Imports

Imports in Asia-Pacific

In 2021, cored arc-welding wire imports in Asia-Pacific totaled X tons, with an increase of 9.9% on 2020. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 16% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, cored arc-welding wire imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a slight descent. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons), followed by India (X tons), Indonesia (X tons), China (X tons), Thailand (X tons), Vietnam (X tons), South Korea (X tons), Singapore (X tons) and Australia (X tons) were the largest importers of cored arc-welding wire, together making up 88% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +11.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cored arc-welding wire importing markets in Asia-Pacific were China ($X), Japan ($X) and Thailand ($X), together accounting for 41% of total imports. India, Indonesia, Australia, Singapore, Vietnam and South Korea lagged somewhat behind, together accounting for a further 45%.

Among the main importing countries, Vietnam, with a CAGR of +6.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, surging by 8.5% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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