Malaysia: Steel Railway Material Market 2024

Steel Railway Material Market Size in Malaysia

In 2022, the Malaysian steel railway material market increased by 33% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption recorded slight growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Steel Railway Material Exports

Exports from Malaysia

In 2022, exports of railway material of steel from Malaysia declined notably to X tons, waning by -24.4% against 2021 figures. Over the period under review, exports saw a noticeable decline. The most prominent rate of growth was recorded in 2019 when exports increased by 198%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, steel railway material exports declined notably to $X in 2022. In general, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 91%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons), Singapore (X tons) and Thailand (X tons) were the main destinations of steel railway material exports from Malaysia, with a combined 90% share of total exports. Cote d'Ivoire, the Philippines, Vietnam and Brunei Darussalam lagged somewhat behind, together comprising a further 9.7%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +32.4%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Singapore ($X) and Thailand ($X) appeared to be the largest markets for steel railway material exported from Malaysia worldwide, with a combined 91% share of total exports.

Thailand, with a CAGR of +15.0%, saw 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 mixed trend patterns.

Export Prices by Country

The average steel railway material export price stood at $X per ton in 2022, declining by -11.6% against the previous year. In general, the export price saw a pronounced setback. The pace of growth appeared the most rapid in 2016 an increase of 59% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 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 Thailand ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Iran (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Railway Material Imports

Imports into Malaysia

In 2022, the amount of railway material of steel imported into Malaysia skyrocketed to X tons, jumping by 23% against the previous year's figure. Overall, imports enjoyed perceptible growth. The most prominent rate of growth was recorded in 2019 with an increase of 99%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, steel railway material imports surged to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 60% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest steel railway material supplier to Malaysia, accounting for a 86% share of total imports. Moreover, steel railway material imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Thailand (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.6% per year) and Thailand (-1.8% per year).

In value terms, China ($X) constituted the largest supplier of railway material of steel to Malaysia, comprising 61% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.6% per year) and Thailand (+12.9% per year).

Import Prices by Country

The average steel railway material import price stood at $X per ton in 2022, with an increase of 3.3% against the previous year. In general, the import price, however, continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2021 an increase of 55% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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