Malaysia: Market for Articles Of Non-Malleable Cast Iron 2024

Market Size for Articles Of Non-Malleable Cast Iron in Malaysia

In 2022, after four years of decline, there was growth in the Malaysian non-malleable cast iron articles market, when its value increased by 0.5% to $X. Overall, consumption continues to indicate a slight shrinkage. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Articles Of Non-Malleable Cast Iron in Malaysia

In value terms, non-malleable cast iron articles production declined to $X in 2022 estimated in export price. Overall, production recorded a slight reduction. The most prominent rate of growth was recorded in 2014 with an increase of 18%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Articles Of Non-Malleable Cast Iron

Exports from Malaysia

In 2022, after two years of decline, there was significant growth in shipments abroad of articles of non-malleable cast iron, when their volume increased by 65% to X tons. Overall, exports, however, continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2018 with an increase of 292% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, non-malleable cast iron articles exports soared to $X in 2022. In general, exports, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 172% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Greece (X tons) was the main destination for non-malleable cast iron articles exports from Malaysia, accounting for a 46% share of total exports. Moreover, non-malleable cast iron articles exports to Greece exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was held by the UK (X tons), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to Greece stood at +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-10.8% per year) and the UK (+5.5% per year).

In value terms, Greece ($X), Japan ($X) and Romania ($X) appeared to be the largest markets for non-malleable cast iron articles exported from Malaysia worldwide, with a combined 57% share of total exports.

Romania, with a CAGR of +91.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average non-malleable cast iron articles export price amounted to $X per ton, waning by -6.6% against the previous year. Over the period under review, the export price continues to indicate a slight downturn. The growth pace was the most rapid in 2020 when the average export price increased by 31%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Non-Malleable Cast Iron

Imports into Malaysia

After three years of decline, supplies from abroad of articles of non-malleable cast iron increased by 43% to X tons in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 129%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, non-malleable cast iron articles imports surged to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 115%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest non-malleable cast iron articles supplier to Malaysia, accounting for a 82% share of total imports. Moreover, non-malleable cast iron articles imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+42.9% per year) and Taiwan (Chinese) (+7.3% per year).

In value terms, China ($X) constituted the largest supplier of articles of non-malleable cast iron to Malaysia, comprising 71% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 12% share of total imports. It was followed by Singapore, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+0.9% per year) and Singapore (+43.8% per year).

Import Prices by Country

The average non-malleable cast iron articles import price stood at $X per ton in 2022, dropping by -15.4% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 36% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank remarkably 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 Taiwan (Chinese) ($X per ton), while the price for Myanmar ($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 (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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