Malaysia: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in Malaysia

The Malaysian cored arc-welding wire market surged to $X in 2021, picking up by 31% against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +68.4% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cored Arc-Welding Wire Production in Malaysia

In value terms, cored arc-welding wire production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2018 when the production volume increased by 21%. Cored arc-welding wire production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Cored Arc-Welding Wire Exports

Exports from Malaysia

In 2021, cored arc-welding wire exports from Malaysia shrank to X tons, falling by -10.1% compared with the previous year's figure. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 5.3%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cored arc-welding wire exports reduced to $X in 2021. In general, exports showed a perceptible slump. The growth pace was the most rapid in 2018 with an increase of 27%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), India (X tons) and Vietnam (X tons) were the main destinations of cored arc-welding wire exports from Malaysia, together comprising 45% of total exports. These countries were followed by Singapore, the United Arab Emirates, Australia, Thailand, Egypt, Turkey, South Korea, Saudi Arabia and Mexico, which together accounted for a further 48%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +135.5%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), India ($X) and Australia ($X) were the largest markets for cored arc-welding wire exported from Malaysia worldwide, with a combined 51% share of total exports. Indonesia, Vietnam, South Korea, the United Arab Emirates, Thailand, Egypt, Saudi Arabia, Turkey and Mexico lagged somewhat behind, together comprising a further 42%.

Mexico, with a CAGR of +125.4%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average cored arc-welding wire export price stood at $X per ton in 2021, rising by 5.1% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 21% against the previous year. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Turkey ($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 Saudi Arabia (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cored Arc-Welding Wire Imports

Imports into Malaysia

In 2021, after four years of decline, there was significant growth in overseas purchases of cored arc-welding wire, when their volume increased by 38% to X tons. Over the period under review, imports recorded resilient growth. The growth pace was the most rapid in 2015 with an increase of 67% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, cored arc-welding wire imports surged to $X in 2021. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest cored arc-welding wire supplier to Malaysia, with a 56% share of total imports. Moreover, cored arc-welding wire imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. Thailand (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.9% per year) and Thailand (+51.5% per year).

In value terms, China ($X) constituted the largest supplier of cored arc-welding wire to Malaysia, comprising 43% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Japan, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+4.3% per year) and Japan (+0.7% per year).

Import Prices by Country

The average cored arc-welding wire import price stood at $X per ton in 2021, rising by 9.2% against the previous year. Over the period under review, the import price, however, showed a noticeable decline. The growth pace was the most rapid in 2019 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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