Asia-Pacific: Steel Sheet Piling Market 2024

Steel Sheet Piling Market Size in Asia-Pacific

The Asia-Pacific steel sheet piling market shrank to $X in 2022, which is down by -7% against the previous year. In general, consumption saw a slight setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Steel Sheet Piling Production in Asia-Pacific

In value terms, steel sheet piling production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2016 with an increase of 8.8%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Steel Sheet Piling Exports

Exports in Asia-Pacific

In 2022, approx. X tons of sheet piling of steel were exported in Asia-Pacific; growing by 24% compared with 2021. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% 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 +28.4% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 48%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel sheet piling exports soared to $X in 2022. In general, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2017 when exports increased by 52%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, amounting to X tons, which was approx. 87% of total exports in 2022. It was distantly followed by Japan (X tons), generating a 5.2% share of total exports. The following exporters - Thailand (X tons), Vietnam (X tons) and South Korea (X tons) - each finished at a 5.6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to steel sheet piling exports from China stood at +18.7%. At the same time, Vietnam (+31.1%) and Thailand (+4.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +31.1% from 2012-2022. By contrast, Japan (-11.4%) and South Korea (-17.1%) illustrated a downward trend over the same period. China (+57 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Japan saw its share reduced by -18.9% and -28.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest steel sheet piling supplier in Asia-Pacific, comprising 87% of total exports. The second position in the ranking was held by Japan ($X), with a 5.6% share of total exports. It was followed by Thailand, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +19.2%. In the other countries, the average annual rates were as follows: Japan (-10.6% per year) and Thailand (+7.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by 8.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 40% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Japan ($X per ton) and China ($X per ton), while Vietnam ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.0%), while the other leaders experienced more modest paces of growth.

Steel Sheet Piling Imports

Imports in Asia-Pacific

In 2022, steel sheet piling imports in Asia-Pacific rose rapidly to X tons, with an increase of 7.7% compared with the year before. Overall, imports enjoyed prominent growth. The growth pace was the most rapid in 2017 with an increase of 39%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, steel sheet piling imports rose rapidly to $X in 2022. In general, imports recorded strong growth. The growth pace was the most rapid in 2017 with an increase of 38% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

The Philippines prevails in imports structure, finishing at X tons, which was near 58% of total imports in 2022. Hong Kong SAR (X tons) took the second position in the ranking, followed by Taiwan (Chinese) (X tons), Singapore (X tons), Bangladesh (X tons) and Vietnam (X tons). All these countries together took approx. 30% share of total imports. Malaysia (X tons) held a minor share of total imports.

The Philippines was also the fastest-growing in terms of the sheet piling of steel imports, with a CAGR of +43.8% from 2012 to 2022. At the same time, Bangladesh (+39.4%), Vietnam (+11.7%) and Taiwan (Chinese) (+9.6%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, Malaysia (-2.8%) and Hong Kong SAR (-3.5%) illustrated a downward trend over the same period. While the share of the Philippines (+55 p.p.) and Bangladesh (+4.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (-4.8 p.p.), Singapore (-6.8 p.p.) and Hong Kong SAR (-19.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported sheet piling of steel in Asia-Pacific, comprising 57% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 11% share of total imports. It was followed by Vietnam, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value in the Philippines totaled +45.5%. In the other countries, the average annual rates were as follows: Hong Kong SAR (-2.8% per year) and Vietnam (+13.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, picking up by 3.9% against the previous year. Over the period under review, the import price, however, showed a mild reduction. The most prominent rate of growth was recorded in 2021 an increase of 35%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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