Asia-Pacific: Steel Plaited Band Market 2025

Steel Plaited Band Market Size in Asia-Pacific

In 2022, the Asia-Pacific steel plaited band market increased by 10% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the near future.

Steel Plaited Band Production in Asia-Pacific

In value terms, steel plaited band production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 18% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Steel Plaited Band Exports

Exports in Asia-Pacific

In 2022, the amount of iron or steel plaited bands and slings exported in Asia-Pacific soared to X tons, picking up by 55% against the previous year. In general, exports, however, recorded a pronounced decrease. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, steel plaited band exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced downturn. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Vietnam (X tons) and China (X tons) were the major exporters of iron or steel plaited bands and slings in Asia-Pacific, together generating 65% of total exports. Thailand (X tons) took the next position in the ranking, followed by Indonesia (X tons). All these countries together took approx. 24% share of total exports. Taiwan (Chinese) (X tons), India (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +31.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest steel plaited band supplier in Asia-Pacific, comprising 44% of total exports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total exports. It was followed by Indonesia, with a 15% share.

In China, steel plaited band exports increased at an average annual rate of +7.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (-12.5% per year) and Indonesia (-5.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, declining by -19% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 34%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Vietnam ($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 (+6.0%), while the other leaders experienced more modest paces of growth.

Steel Plaited Band Imports

Imports in Asia-Pacific

In 2022, overseas purchases of iron or steel plaited bands and slings increased by 8.8% to X tons, rising for the second year in a row after three years of decline. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, steel plaited band imports contracted significantly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 70% against the previous year. As a result, imports attained the peak of $X, and then contracted markedly in the following year.

Imports by Country

India represented the main importing country with an import of around X tons, which finished at 52% of total imports. It was distantly followed by Thailand (X tons), constituting a 16% share of total imports. The following importers - Australia (X tons), China (X tons), Japan (X tons), Lao People's Democratic Republic (X tons), South Korea (X tons), Malaysia (X tons), Singapore (X tons), the Philippines (X tons), Vietnam (X tons), Indonesia (X tons) and Pakistan (X tons) - together made up 27% of total imports.

From 2012 to 2022, average annual rates of growth with regard to steel plaited band imports into India stood at +5.1%. At the same time, Lao People's Democratic Republic (+17.0%) and Thailand (+7.8%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +17.0% from 2012-2022. By contrast, Japan (-1.6%), Pakistan (-1.6%), Australia (-3.9%), Singapore (-6.6%), the Philippines (-7.1%), Vietnam (-8.2%), Malaysia (-8.8%), China (-8.8%), South Korea (-9.5%) and Indonesia (-13.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Thailand and Lao People's Democratic Republic increased by +20, +8.1 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported iron or steel plaited bands and slings in Asia-Pacific, comprising 41% of total imports. The second position in the ranking was held by Thailand ($X), with a 14% share of total imports. It was followed by China, with a 13% share.

In India, steel plaited band imports increased at an average annual rate of +2.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+2.6% per year) and China (-2.6% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, shrinking by -29.8% against the previous year. Over the period under review, the import price recorded a slight decline. The most prominent rate of growth was recorded in 2021 an increase of 34% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank markedly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Lao People's Democratic Republic ($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 (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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