South-Eastern Asia: Expanded Metal Market 2024

Expanded Metal Market Size in South-Eastern Asia

The Southeast Asian expanded metal market rose notably to $X in 2022, growing by 7.9% against the previous year. In general, consumption showed a mild expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Expanded Metal Production in South-Eastern Asia

In value terms, expanded metal production rose remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Expanded Metal Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of iron or steel expanded metal decreased by -17.2% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 47% against the previous year. As a result, the exports reached the peak of X tons, and then fell notably in the following year.

In value terms, expanded metal exports totaled $X in 2022. Over the period under review, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2019 when exports increased by 73% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, Vietnam (X tons) was the main exporter of iron or steel expanded metal, achieving 71% of total exports. Singapore (X tons) ranks second in terms of the total exports with an 18% share, followed by Malaysia (10%).

Exports from Vietnam increased at an average annual rate of +9.4% from 2012 to 2022. At the same time, Malaysia (+13.8%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +13.8% from 2012-2022. Singapore experienced a relatively flat trend pattern. Vietnam (+16 p.p.) and Malaysia (+4.8 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -15% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest expanded metal supplier in South-Eastern Asia, comprising 75% of total exports. The second position in the ranking was taken by Singapore ($X), with a 22% share of total exports.

In Vietnam, expanded metal exports increased at an average annual rate of +16.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-1.3% per year) and Malaysia (+2.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, growing by 28% against the previous year. Over the period under review, the export price enjoyed a mild increase. The most prominent rate of growth was recorded in 2019 when the export price increased by 51%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($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 (+6.4%), while the other leaders experienced a decline in the export price figures.

Expanded Metal Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of iron or steel expanded metal decreased by -11.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.0% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 26%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, expanded metal imports reached $X in 2022. Over the period under review, imports, however, posted a strong increase. The growth pace was the most rapid in 2020 with an increase of 37% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Singapore (X tons), distantly followed by Indonesia (X tons), Thailand (X tons), Vietnam (X tons), the Philippines (X tons), Malaysia (X tons) and Myanmar (X tons) represented the major importers of iron or steel expanded metal, together mixing up 99% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +108.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2022, with a combined 66% share of total imports. Vietnam, Thailand, Indonesia and Myanmar lagged somewhat behind, together comprising a further 33%.

Myanmar, with a CAGR of +92.3%, saw the highest rates of growth with regard to 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 2022, the import price in South-Eastern Asia amounted to $X per ton, surging by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.3%. The pace of growth was the most pronounced in 2013 when the import price increased by 25% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+14.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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