Myanmar: Steel Plaited Band Market 2025

Steel Plaited Band Market Size in Myanmar

The Myanmar's steel plaited band market reduced to $X in 2022, with a decrease of -13.8% against the previous year. Overall, consumption faced a precipitous descent. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Steel Plaited Band Production in Myanmar

In value terms, steel plaited band production shrank sharply to $X in 2022 estimated in export price. In general, production faced a deep downturn. The growth pace was the most rapid in 2017 with a decrease of -41% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Steel Plaited Band Exports

Exports from Myanmar

In 2022, overseas shipments of iron or steel plaited bands and slings increased by 63% to X tons, rising for the second year in a row after six years of decline. Overall, exports saw a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by 1,711% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, steel plaited band exports skyrocketed to $X in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 1,379%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for steel plaited band exports from Myanmar, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled +45.1%.

In value terms, Indonesia ($X) emerged as the key foreign market for iron or steel plaited bands and slings exports from Myanmar.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at +71.3%.

Export Prices by Country

The average steel plaited band export price stood at $X per ton in 2022, growing by 19% against the previous year. In general, the export price recorded a prominent expansion. The pace of growth was the most pronounced in 2020 an increase of 46% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Indonesia.

From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +22.5% per year.

Steel Plaited Band Imports

Imports into Myanmar

In 2022, the amount of iron or steel plaited bands and slings imported into Myanmar reduced slightly to X tons, stabilizing at 2021. In general, imports recorded a pronounced slump. The most prominent rate of growth was recorded in 2013 when imports increased by 726%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, steel plaited band imports skyrocketed to $X in 2022. Overall, imports faced a abrupt shrinkage. The growth pace was the most rapid in 2013 when imports increased by 743%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Thailand (X tons) were the main suppliers of steel plaited band imports to Myanmar, together accounting for 97% of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +58.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), China ($X) and Thailand ($X) appeared to be the largest steel plaited band suppliers to Myanmar, with a combined 97% share of total imports.

Among the main suppliers, Japan, with a CAGR of +46.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average steel plaited band import price stood at $X per ton in 2022, surging by 29% against the previous year. Overall, the import price, however, recorded a deep setback. The import price peaked at $X per ton in 2013; however, from 2014 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 Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+13.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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