Eastern Asia: Stranded Wire Market 2025

Stranded Wire Market Size in Eastern Asia

The East Asian stranded wire market expanded modestly to $X in 2021, growing by 2% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Stranded Wire Production in Eastern Asia

In value terms, stranded wire production reached $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13%. 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 Eastern Asia

After two years of decline, overseas shipments of stranded wire, ropes and cables increased by 8.3% to X tons in 2021. The total export volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, stranded wire exports soared to $X in 2021. The total export value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) was the key exporter of stranded wire, ropes and cables, making up 85% of total exports. It was distantly followed by South Korea (X tons), generating a 12% share of total exports. Japan (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the stranded wire, ropes and cables exports, with a CAGR of +5.0% from 2012 to 2021. Japan (-2.6%) and South Korea (-4.1%) illustrated a downward trend over the same period. China (+13 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -1.7% and -10.7% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest stranded wire supplier in Eastern Asia, comprising 77% of total exports. The second position in the ranking was taken by South Korea ($X), with a 16% share of total exports.

In China, stranded wire exports expanded at an average annual rate of +5.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-2.4% per year) and Japan (-2.6% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, growing by 11% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The level of export peaked 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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.8%), while the other leaders experienced more modest paces of growth.

Stranded Wire Imports

Imports in Eastern Asia

In 2021, approx. X tons of stranded wire, ropes and cables were imported in Eastern Asia; picking up by 19% against the previous year's figure. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, stranded wire imports soared to $X in 2021. Overall, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons) and Japan (X tons) represented roughly 69% of total imports in 2021. China (X tons) took the next position in the ranking, distantly followed by Taiwan (Chinese) (X tons). All these countries together held approx. 27% share of total imports. Hong Kong SAR (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +4.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of imports in 2021, together comprising 88% of total imports.

Among the main importing countries, South Korea, with a CAGR of +2.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 4% against the previous year. In general, the import price, however, showed a mild decline. The most prominent rate of growth was recorded in 2018 when the import price increased by 12%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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