South-Eastern Asia: Pig Iron Market 2022

Pig Iron Market Size in South-Eastern Asia

The Southeast Asian pig iron market rose significantly to $X in 2021, surging by 6.7% against the previous year. Overall, consumption showed a resilient increase. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the immediate term.

Pig Iron Production in South-Eastern Asia

In value terms, pig iron production contracted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 85%. The level of production peaked at $X in 2020, and then dropped in the following year.

Pig Iron Exports

Exports in South-Eastern Asia

After two years of growth, shipments abroad of pig iron and spiegeleisen decreased by -68.7% to X tons in 2021. Overall, exports, however, enjoyed a pronounced increase. The pace of growth was the most pronounced in 2014 when exports increased by 208%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, pig iron exports declined dramatically to $X in 2021. In general, exports, however, showed a prominent increase. The growth pace was the most rapid in 2014 when exports increased by 191%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia represented the key exporting country with an export of around X tons, which accounted for 54% of total exports. Vietnam (X tons) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (18%) and Singapore (5.4%).

Indonesia experienced a relatively flat trend pattern with regard to volume of exports of pig iron and spiegeleisen. At the same time, Malaysia (+40.1%), Singapore (+21.5%) and Vietnam (+2.0%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +40.1% from 2012-2021. Malaysia (+17 p.p.) and Singapore (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam and Indonesia saw its share reduced by -2.5% and -16.6% from 2012 to 2021, respectively.

In value terms, Indonesia ($X) remains the largest pig iron supplier in South-Eastern Asia, comprising 68% of total exports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total exports. It was followed by Malaysia, with a 13% share.

In Indonesia, pig iron exports expanded at an average annual rate of +5.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+3.6% per year) and Malaysia (+35.6% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, with an increase of 40% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.7%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+5.6%), while the other leaders experienced mixed trends in the export price figures.

Pig Iron Imports

Imports in South-Eastern Asia

In 2021, pig iron imports in South-Eastern Asia contracted markedly to X tons, dropping by -31.2% on 2020 figures. Over the period under review, imports saw a abrupt slump. The pace of growth was the most pronounced in 2014 when imports increased by 49% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, pig iron imports amounted to $X in 2021. Overall, imports recorded a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 51% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Thailand was the major importing country with an import of around X tons, which finished at 68% of total imports. Vietnam (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (9.2%) and Malaysia (2.8%). Malaysia (X tons) followed a long way behind the leaders.

Imports into Thailand decreased at an average annual rate of -7.1% from 2012 to 2021. Vietnam (-2.7%), Indonesia (-13.5%) and Malaysia (-25.0%) illustrated a downward trend over the same period. Thailand (+11 p.p.) and Vietnam (+8.1 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Malaysia saw its share reduced by -5.4% and -13.5% from 2012 to 2021, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported pig iron and spiegeleisen in South-Eastern Asia, comprising 68% of total imports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total imports. It was followed by Indonesia, with an 11% share.

In Thailand, pig iron imports plunged by an average annual rate of -4.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (-3.3% per year) and Indonesia (-9.5% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 55% against the previous year. Import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :