South-Eastern Asia: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in South-Eastern Asia

For the third consecutive year, the Southeast Asian flat-rolled steel products market recorded growth in sales value, which increased by 5.3% to $X in 2021. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the near future.

Flat-Rolled Steel Products Production in South-Eastern Asia

In value terms, flat-rolled steel products production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 16%. The level of production peaked at $X in 2020, and then reduced slightly in the following year.

Flat-Rolled Steel Products Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of flat-rolled products of iron or non-alloy steel decreased by -16.9% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 22%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, flat-rolled steel products exports fell to $X in 2021. In general, exports recorded a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 17%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Malaysia (X tons), Singapore (X tons) and Vietnam (X tons), together finishing at 90% of total export. The following exporters - the Philippines (X tons), Indonesia (X tons) and Thailand (X tons) - together made up 9.6% of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +18.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel products supplying countries in South-Eastern Asia were Singapore ($X), Malaysia ($X) and Vietnam ($X), with a combined 91% share of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +18.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, growing by 8.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 13% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.2%), while the other leaders experienced mixed trends in the export price figures.

Flat-Rolled Steel Products Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of flat-rolled products of iron or non-alloy steel decreased by -0.2% to X tons, falling for the third year in a row after three years of growth. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, flat-rolled steel products imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons) and the Philippines (X tons) represented the major importers of flat-rolled products of iron or non-alloy steel in South-Eastern Asia, together recording near 55% of total imports. Indonesia (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (10%), Singapore (6.9%) and Vietnam (6.9%). Cambodia (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of +11.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel products importing markets in South-Eastern Asia were Thailand ($X), the Philippines ($X) and Indonesia ($X), together accounting for 73% of total imports. These countries were followed by Malaysia, Singapore, Vietnam and Cambodia, which together accounted for a further 25%.

Cambodia, with a CAGR of +21.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, increasing by 32% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Indonesia ($X per ton) and Thailand ($X per ton), while Cambodia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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