Malaysia: Market for Welded And Cold-Formed Sections Of Steel 2024

Market Size for Welded And Cold-Formed Sections Of Steel in Malaysia

The Malaysian market for welded and cold-formed sections of steel shrank modestly to $X in 2022, dropping by -2.7% against the previous year. In general, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.9% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Welded And Cold-Formed Sections Of Steel in Malaysia

In value terms, welded and cold-formed steel sections production dropped modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 80%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Welded And Cold-Formed Sections Of Steel

Exports from Malaysia

In 2022, overseas shipments of welded and cold-formed sections of steel were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports saw buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 208%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, welded and cold-formed steel sections exports surged to $X in 2022. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 277%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X tons) was the main destination for welded and cold-formed steel sections exports from Malaysia, with a 77% share of total exports. Moreover, welded and cold-formed steel sections exports to Myanmar exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold. Qatar (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at +40.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+10.8% per year) and Qatar (+8.4% per year).

In value terms, Myanmar ($X) remains the key foreign market for welded and cold-formed sections of steel exports from Malaysia, comprising 59% of total exports. The second position in the ranking was taken by Singapore ($X), with a 6.6% share of total exports. It was followed by France, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value to Myanmar amounted to +35.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+22.2% per year) and France (+65.1% per year).

Export Prices by Country

In 2022, the average export price for welded and cold-formed sections of steel amounted to $X per ton, with an increase of 25% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, welded and cold-formed steel sections export price decreased by -32.5% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 54% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, 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 Indonesia ($X per ton), while the average price for exports to Qatar ($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 Singapore (+10.3%), while the prices for the other major destinations experienced a decline.

Imports of Welded And Cold-Formed Sections Of Steel

Imports into Malaysia

In 2022, approx. X tons of welded and cold-formed sections of steel were imported into Malaysia; reducing by -44.9% compared with 2021 figures. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 934% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, welded and cold-formed steel sections imports reduced markedly to $X in 2022. Over the period under review, imports, however, showed a notable increase. The growth pace was the most rapid in 2021 when imports increased by 787%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), Luxembourg (X tons) and the United States (X tons) were the main suppliers of welded and cold-formed steel sections imports to Malaysia, together comprising 65% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +53.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Luxembourg ($X) constituted the largest supplier of welded and cold-formed sections of steel to Malaysia, comprising 70% of total imports. The second position in the ranking was held by China ($X), with a 6.8% share of total imports. It was followed by the United States, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value from Luxembourg amounted to +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.4% per year) and the United States (-4.3% per year).

Import Prices by Country

The average import price for welded and cold-formed sections of steel stood at $X per ton in 2022, leveling off at the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, welded and cold-formed steel sections import price decreased by -17.9% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 27%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 South Korea ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+25.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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