Asia-Pacific: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2025

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Asia-Pacific

In 2021, the Asia-Pacific market for ribbed or other deformed wire rod of non-alloy steel increased by 0.3% to $X, rising for the fifth year in a row after two years of decline. Overall, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by 6.1% against the previous year. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Asia-Pacific

In value terms, deformed non-alloy steel wire rod production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 11%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in Asia-Pacific

For the fifth consecutive year, Asia-Pacific recorded growth in overseas shipments of ribbed or other deformed wire rod of non-alloy steel, which increased by 29% to X tons in 2021. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 183% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, deformed non-alloy steel wire rod exports soared to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 169%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

In 2021, Malaysia (X tons) was the major exporter of ribbed or other deformed wire rod of non-alloy steel, making up 57% of total exports. It was distantly followed by Vietnam (X tons), Singapore (X tons) and China (X tons), together committing a 37% share of total exports. Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Exports from Malaysia increased at an average annual rate of +100.6% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+337.1%), Singapore (+59.8%), Vietnam (+39.3%) and China (+17.8%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +337.1% from 2012-2021. From 2012 to 2021, the share of Malaysia, Vietnam, Singapore and Lao People's Democratic Republic increased by +56, +13, +5.1 and +1.5 percentage points, respectively.

In value terms, Malaysia ($X) remains the largest deformed non-alloy steel wire rod supplier in Asia-Pacific, comprising 55% of total exports. The second position in the ranking was held by Vietnam ($X), with a 24% share of total exports. It was followed by Singapore, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia amounted to +90.9%. In the other countries, the average annual rates were as follows: Vietnam (+39.2% per year) and Singapore (+56.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, increasing by 25% against the previous year. In general, the export price, however, continues to indicate a noticeable slump. 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.

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 China ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+11.8%), while the other leaders experienced a decline in the export price figures.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in Asia-Pacific

In 2021, supplies from abroad of ribbed or other deformed wire rod of non-alloy steel increased by 207% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports showed a tangible expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, deformed non-alloy steel wire rod imports skyrocketed to $X in 2021. In general, imports showed pronounced growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Singapore (X tons) was the major importer of ribbed or other deformed wire rod of non-alloy steel, constituting 63% of total imports. It was distantly followed by China (X tons), committing a 26% share of total imports. The following importers - Afghanistan (X tons) and Cambodia (X tons) - together made up 6.1% of total imports.

Imports into Singapore increased at an average annual rate of +3.9% from 2012 to 2021. At the same time, China (+113.6%) and Afghanistan (+33.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +113.6% from 2012-2021. By contrast, Cambodia (-18.4%) illustrated a downward trend over the same period. While the share of China (+26 p.p.), Singapore (+6 p.p.) and Afghanistan (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cambodia (-13.3 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in Asia-Pacific, comprising 65% of total imports. The second position in the ranking was taken by China ($X), with a 24% share of total imports. It was followed by Afghanistan, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value in Singapore amounted to +4.6%. In the other countries, the average annual rates were as follows: China (+86.9% per year) and Afghanistan (+26.5% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, rising by 3.3% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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