Malaysia: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in Malaysia

In 2022, after four years of decline, there was significant growth in the Malaysian steel and iron articles market, when its value increased by 6.5% to $X. In general, consumption enjoyed perceptible growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Articles Of Iron Or Steel in Malaysia

In value terms, steel and iron articles production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed notable growth. The growth pace was the most rapid in 2017 when the production volume increased by 74% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Articles Of Iron Or Steel

Exports from Malaysia

In 2022, after three years of growth, there was significant decline in overseas shipments of articles of iron or steel, when their volume decreased by -17.2% to X tons. In general, total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% 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 +62.7% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50%. As a result, the exports attained the peak of X tons, and then dropped significantly in the following year.

In value terms, steel and iron articles exports dropped to $X in 2022. The total export value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 24%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X tons) was the main destination for steel and iron articles exports from Malaysia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar totaled +289.4%.

In value terms, Myanmar ($X) emerged as the key foreign market for articles of iron or steel exports from Malaysia.

From 2012 to 2022, the average annual growth rate of value to Myanmar totaled +258.7%.

Export Prices by Country

In 2022, the average steel and iron articles export price amounted to $X per ton, growing by 9% against the previous year. Overall, the export price, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by 14%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to +0.0% per year.

Imports of Articles Of Iron Or Steel

Imports into Malaysia

Steel and iron articles imports into Malaysia contracted modestly to X tons in 2022, which is down by -5% on 2021. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by 37% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, steel and iron articles imports contracted to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +74.7% against 2016 indices. The pace of growth was the most pronounced in 2018 when imports increased by 22%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest steel and iron articles supplier to Malaysia, with a 63% share of total imports. Moreover, steel and iron articles imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+3.5% per year) and the United States (+19.4% per year).

In value terms, China ($X) constituted the largest supplier of articles of iron or steel to Malaysia, comprising 68% of total imports. The second position in the ranking was taken by Singapore ($X), with an 8.7% share of total imports. It was followed by the United States, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-1.2% per year) and the United States (+6.3% per year).

Import Prices by Country

The average steel and iron articles import price stood at $X per ton in 2022, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2017 when the average import price increased by 34% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($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 (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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