South-Eastern Asia: Steel Plaited Band Market 2025

Steel Plaited Band Market Size in South-Eastern Asia

In 2022, the Southeast Asian steel plaited band market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Steel Plaited Band Production in South-Eastern Asia

In value terms, steel plaited band production shrank to $X in 2022 estimated in export price. In general, production recorded a modest expansion. The growth pace was the most rapid in 2016 with an increase of 13%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Steel Plaited Band Exports

Exports in South-Eastern Asia

Steel plaited band exports skyrocketed to X tons in 2022, rising by 87% compared with the previous year. Overall, exports, however, continue to indicate a deep slump. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, steel plaited band exports expanded remarkably to $X in 2022. In general, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam represented the key exporter of iron or steel plaited bands and slings in South-Eastern Asia, with the volume of exports accounting for X tons, which was approx. 57% of total exports in 2022. Thailand (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (17%). Malaysia (X tons) and Singapore (X tons) took a little share of total exports.

Vietnam was also the fastest-growing in terms of the iron or steel plaited bands and slings exports, with a CAGR of +31.0% from 2012 to 2022. At the same time, Indonesia (+1.9%) displayed positive paces of growth. By contrast, Singapore (-8.4%), Malaysia (-14.5%) and Thailand (-17.4%) illustrated a downward trend over the same period. Vietnam (+55 p.p.) and Indonesia (+9.1 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Thailand saw its share reduced by -5.6% and -58.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Indonesia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 90% of total exports.

Vietnam, with a CAGR of +2.2%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, dropping by -39.7% against the previous year. Overall, the export price saw a perceptible shrinkage. The growth pace was the most rapid in 2013 an increase of 42% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+6.0%), while the other leaders experienced a decline in the export price figures.

Steel Plaited Band Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of iron or steel plaited bands and slings increased by 54% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, showed a mild decline. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, steel plaited band imports skyrocketed to $X in 2022. In general, imports, however, recorded a noticeable contraction. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand prevails in imports structure, finishing at X tons, which was near 51% of total imports in 2022. Lao People's Democratic Republic (X tons) took the second position in the ranking, followed by Malaysia (X tons), Singapore (X tons), the Philippines (X tons), Vietnam (X tons) and Indonesia (X tons). All these countries together held approx. 43% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to steel plaited band imports into Thailand stood at +7.8%. At the same time, Lao People's Democratic Republic (+17.0%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +17.0% from 2012-2022. By contrast, Singapore (-6.6%), the Philippines (-7.1%), Vietnam (-8.2%), Malaysia (-8.8%) and Indonesia (-13.3%) illustrated a downward trend over the same period. While the share of Thailand (+31 p.p.) and Lao People's Democratic Republic (+7.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-4.7 p.p.), the Philippines (-5.3 p.p.), Vietnam (-5.9 p.p.), Malaysia (-8.2 p.p.) and Indonesia (-15 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) constitutes the largest market for imported iron or steel plaited bands and slings in South-Eastern Asia, comprising 45% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total imports. It was followed by Malaysia, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand amounted to +2.6%. In the other countries, the average annual rates were as follows: Vietnam (-3.0% per year) and Malaysia (-10.4% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, reducing by -18.8% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 19%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Lao People's Democratic Republic ($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 (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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