Eastern Asia: Aluminium Alloy Wire Market 2024

Aluminium Alloy Wire Market Size in Eastern Asia

The East Asian aluminium alloy wire market dropped to $X in 2022, stabilizing at the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Aluminium Alloy Wire Production in Eastern Asia

In value terms, aluminium alloy wire production totaled $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 17% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Aluminium Alloy Wire Exports

Exports in Eastern Asia

For the third consecutive year, Eastern Asia recorded growth in overseas shipments of aluminium alloy wire, which increased by 0.1% to X tons in 2022. Total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% 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 +60.0% against 2016 indices. The pace of growth was the most pronounced in 2014 when exports increased by 25%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, aluminium alloy wire exports stood at $X in 2022. In general, exports posted buoyant growth. The growth pace was the most rapid in 2021 with an increase of 39%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

China was the largest exporting country with an export of around X tons, which amounted to 75% of total exports. It was distantly followed by Japan (X tons), creating a 22% share of total exports. South Korea (X tons) held a relatively small share of total exports.

China was also the fastest-growing in terms of the aluminium alloy wire exports, with a CAGR of +4.9% from 2012 to 2022. At the same time, Japan (+3.3%) and South Korea (+3.2%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +3.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest aluminium alloy wire supplier in Eastern Asia, comprising 77% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +7.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+4.2% per year) and South Korea (+4.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by 6.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2021 when the export price increased by 18%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea ($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 (+2.4%), while the other leaders experienced more modest paces of growth.

Aluminium Alloy Wire Imports

Imports in Eastern Asia

In 2022, aluminium alloy wire imports in Eastern Asia dropped to X tons, which is down by -13.6% on the year before. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.2% against 2012 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 25% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, aluminium alloy wire imports fell to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +18.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 25%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

The countries with the highest levels of aluminium alloy wire imports in 2022 were China (X tons), Japan (X tons) and South Korea (X tons), together accounting for 91% of total import. It was distantly followed by Taiwan (Chinese) (X tons), creating an 8.9% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Japan (with a CAGR of +15.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aluminium alloy wire importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 91% share of total imports.

Japan, with a CAGR of +15.3%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 Eastern Asia stood at $X per ton in 2022, increasing by 9.6% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. 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 China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform