Malaysia: Iron Angle Market 2024

Iron Angle Market Size in Malaysia

The Malaysian iron angle market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, recorded a pronounced slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Iron Angle Production in Malaysia

In value terms, iron angle production rose rapidly to $X in 2021 estimated in export price. Overall, production, however, faced a abrupt curtailment. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Iron Angle Exports

Exports from Malaysia

In 2021, shipments abroad of angles, shapes and sections (of iron or non-alloy steel) decreased by -41.5% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 254% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, iron angle exports declined dramatically to $X in 2021. Overall, exports, however, showed buoyant growth. The growth pace was the most rapid in 2019 when exports increased by 208% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for iron angle exports from Malaysia, with a 70% share of total exports. Moreover, iron angle exports to Singapore exceeded the volume sent to the second major destination, South Korea (X tons), sixfold. China (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore totaled +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-25.7% per year) and China (+45.1% per year).

In value terms, Singapore ($X) remains the key foreign market for angles, shapes and sections (of iron or non-alloy steel) exports from Malaysia, comprising 78% of total exports. The second position in the ranking was held by South Korea ($X), with an 8% share of total exports. It was followed by China, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore stood at +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-23.9% per year) and China (+38.8% per year).

Export Prices by Country

In 2021, the average iron angle export price amounted to $X per ton, picking up by 30% against the previous year. Over the period under review, the export price, however, continues to indicate a mild contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Angle Imports

Imports into Malaysia

In 2021, after two years of decline, there was growth in supplies from abroad of angles, shapes and sections (of iron or non-alloy steel), when their volume increased by 2.1% to X tons. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 9.3% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, iron angle imports soared to $X in 2021. Overall, imports, however, continue to indicate a slight setback. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Turkey (X tons), China (X tons) and Thailand (X tons) were the main suppliers of iron angle imports to Malaysia, together accounting for 78% of total imports. South Korea, the United Arab Emirates and Japan lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +79.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest iron angle suppliers to Malaysia were Thailand ($X), Turkey ($X) and China ($X), together comprising 76% of total imports. South Korea, the United Arab Emirates and Japan lagged somewhat behind, together comprising a further 19%.

The United Arab Emirates, with a CAGR of +78.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average iron angle import price amounted to $X per ton, surging by 39% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per ton) and Thailand ($X per ton), while the price for Turkey ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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