Asia: Stranded Wire Market 2025

Stranded Wire Market Size in Asia

After two years of growth, the Asian stranded wire market decreased by -4.5% to $X in 2021. In general, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 7.5% against the previous year. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Stranded Wire Production in Asia

In value terms, stranded wire production amounted to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 9.7% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Stranded Wire Exports

Exports in Asia

In 2021, stranded wire exports in Asia soared to X tons, picking up by 20% against the previous year's figure. The total export volume increased at an average annual rate of +4.1% 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.

In value terms, stranded wire exports soared to $X in 2021. The total export value increased at an average annual rate of +4.1% 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

China represented the main exporting country with an export of around X tons, which amounted to 48% of total exports. Turkey (X tons) ranks second in terms of the total exports with a 12% share, followed by Vietnam (9.3%), South Korea (6.6%), Thailand (6.6%) and India (5.8%). Malaysia (X tons) held a little share of total exports.

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%), Turkey (+10.3%), Thailand (+5.6%) and India (+3.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, 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. While the share of Vietnam (+7 p.p.), Turkey (+4.9 p.p.) and China (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-2.6 p.p.) and South Korea (-7.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest stranded wire supplying countries in Asia were China ($X), Turkey ($X) and Vietnam ($X), together accounting for 68% of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +18.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, rising by 18% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; afterwards, it flattened through to 2021.

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

In 2021, imports of stranded wire, ropes and cables in Asia rose sharply to X tons, growing by 11% on 2020. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, stranded wire imports soared to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), India (X tons), Thailand (X tons), Japan (X tons), Vietnam (X tons), China (X tons), the United Arab Emirates (X tons), Malaysia (X tons), the Philippines (X tons), Singapore (X tons), Bangladesh (X tons) and Indonesia (X tons) represented roughly 75% of total imports in 2021. Taiwan (Chinese) (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading 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 were China ($X), India ($X) and South Korea ($X), with a combined 31% share of total imports. Japan, Thailand, Vietnam, Bangladesh, the Philippines, the United Arab Emirates, Singapore, Indonesia, Taiwan (Chinese) and Malaysia lagged somewhat behind, together accounting for a further 46%.

Among the main importing countries, Bangladesh, with a CAGR of +29.3%, 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

The import price in Asia stood at $X per ton in 2021, rising by 13% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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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