Report Update Nov 1, 2024

Myanmar - Iron and Steel Wire - Market Analysis, Forecast, Size, Trends and Insights

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Myanmar: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Myanmar

In 2021, after two years of decline, there was significant growth in the Myanmar's iron and steel wire market, when its value increased by 26% to $X. Over the period under review, consumption recorded a strong increase. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Exports of Iron and Steel Wire

Exports from Myanmar

In 2021, exports of iron and steel wire from Myanmar shrank sharply to X tons, falling by -19.8% on the year before. Over the period under review, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 9,880,669% against the previous year. As a result, the exports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, iron and steel wire exports skyrocketed to $X in 2021. In general, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2020 with an increase of 26,432% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for iron and steel wire exports from Myanmar, with a 98% share of total exports. It was followed by Thailand (X tons), with a 1.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +2,915.4%.

In value terms, the United States ($X) remains the key foreign market for iron and steel wire exports from Myanmar, comprising 94% of total exports. The second position in the ranking was held by Thailand ($X), with a 6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +803.3%.

Export Prices by Country

In 2021, the average iron and steel wire export price amounted to $X per ton, rising by 1,097% against the previous year. In general, the export price, however, showed a significant decrease. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-20.9%).

Imports of Iron and Steel Wire

Imports into Myanmar

In 2021, supplies from abroad of iron and steel wire increased by 66% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of 169% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports contracted dramatically to $X in 2021. In general, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 158% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest iron and steel wire supplier to Myanmar, accounting for a 72% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), eightfold. The third position in this ranking was held by India (X tons), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+64.0% per year) and India (+16.6% per year).

In value terms, China ($X) constituted the largest supplier of iron and steel wire to Myanmar, comprising 57% of total imports. The second position in the ranking was taken by India ($X), with an 18% share of total imports. It was followed by South Korea, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+21.7% per year) and South Korea (+14.3% per year).

Import Prices by Country

In 2021, the average iron and steel wire import price amounted to $X per ton, reducing by -65.1% against the previous year. Overall, the import price saw a drastic downturn. The growth pace was the most rapid in 2020 an increase of 283%. As a result, import price reached the peak level of $X per ton, and then contracted notably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron and steel wire in the world?

China remains the largest iron and steel wire consuming country worldwide, accounting for 32% of total volume. Moreover, iron and steel wire consumption in China exceeded the figures recorded by the second-largest consumer, the United States, fivefold. Japan ranked third in terms of total consumption with a 5.7% share.

What are the largest producers of iron and steel wire in the world?

The country with the largest volume of iron and steel wire production was China, comprising approx. 39% of total volume. Moreover, iron and steel wire production in China exceeded the figures recorded by the second-largest producer, Japan, sevenfold. The third position in this ranking was occupied by the United States, with a 4.9% share.

What are the leading suppliers of iron and steel wire to Myanmar?

In value terms, China constituted the largest supplier of iron and steel wire to Myanmar, comprising 58% of total imports. The second position in the ranking was occupied by India, with a 17% share of total imports. It was followed by South Korea, with an 8.7% share.

What are the leading importers of iron and steel wire from Myanmar?

In value terms, the United States remains the key foreign market for iron and steel wire exports from Myanmar, comprising 94% of total exports. The second position in the ranking was occupied by Thailand, with a 5.9% share of total exports.

What is the average export price for iron and steel wire in Myanmar?

The average iron and steel wire export price stood at $472 per ton in 2021, shrinking by -99.6% against the previous year.

What is the average import price for iron and steel wire in Myanmar?

In 2021, the average iron and steel wire import price amounted to $962 per ton, with an increase of 25% against the previous year.

This report provides an in-depth analysis of the market for iron and steel wire in Myanmar. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24341130 - Iron or non-alloy steel wire containing < 0,25 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing - duplex wire - saw-tooth wire, insulated electric wire
Prodcom 24341150 - Iron or non-alloy steel wire containing 0,25-0,6 % of carbon including crimped wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
Prodcom 24341170 - Iron or non-alloy steel wire containing . 0,6 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
Prodcom 24341200 - Stainless steel wire (excluding very fine sterile stainless wire used for surgical sutures)
Prodcom 24341300 - Alloy steel wire (excluding stranded wire, barbed wire of a kind used for fencing, duplex wire, saw-tooth wire, insulated electric wire, of stainless steel)

Country coverage:

Myanmar

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Myanmar
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023