Asia-Pacific: Stranded Wire Market 2025

Stranded Wire Market Size in Asia-Pacific

In 2021, after two years of growth, there was decline in the Asia-Pacific stranded wire market, when its value decreased by -1% to $X. Overall, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the market value increased by 6.4% against the previous year. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Stranded Wire Production in Asia-Pacific

In value terms, stranded wire production reached $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 11% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Stranded Wire Exports

Exports in Asia-Pacific

Stranded wire exports amounted to X tons in 2021, increasing by 14% against the year before. The total export volume increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 16% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, stranded wire exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 stranded wire, ropes and cables, constituting 57% of total exports. Vietnam (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (7.8%), Thailand (7.8%) and India (6.9%). Malaysia (X tons) and Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to stranded wire exports from China stood at +5.0%. At the same time, Vietnam (+21.6%), Indonesia (+10.6%), Thailand (+5.6%) and India (+3.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +21.6% from 2012-2021. By contrast, Malaysia (-2.7%) and South Korea (-4.1%) illustrated a downward trend over the same period. Vietnam (+8.3 p.p.) and China (+4.5 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and South Korea saw its share reduced by -3.1% and -8.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest stranded wire supplier in Asia-Pacific, comprising 50% of total exports. The second position in the ranking was held by Vietnam ($X), with a 12% share of total exports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +5.3%. In the other countries, the average annual rates were as follows: Vietnam (+18.1% per year) and South Korea (-2.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, increasing by 11% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.1%), while the other leaders experienced more modest paces of growth.

Stranded Wire Imports

Imports in Asia-Pacific

Stranded wire imports rose sharply to X tons in 2021, increasing by 15% compared with 2020. The total import volume increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, stranded wire imports surged to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of stranded wire imports in 2021 were South Korea (X tons), India (X tons), Thailand (X tons), Japan (X tons), Vietnam (X tons), China (X tons), Malaysia (X tons), the Philippines (X tons), Singapore (X tons), Bangladesh (X tons), Australia (X tons) and Indonesia (X tons), together reaching 88% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bangladesh (with a CAGR of +19.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest stranded wire importing markets in Asia-Pacific were China ($X), India ($X) and South Korea ($X), together comprising 37% of total imports. These countries were followed by Japan, Thailand, Vietnam, Bangladesh, the Philippines, Australia, Singapore, Indonesia and Malaysia, which together accounted for a further 51%.

In terms of the main importing countries, Bangladesh, with a CAGR of +29.3%, recorded the highest growth rate of 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

The import price in Asia-Pacific stood at $X per ton in 2021, surging by 11% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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