Southern Asia: Stranded Wire Market 2025

Stranded Wire Market Size in Southern Asia

For the third year in a row, the South Asian stranded wire market recorded growth in sales value, which increased by 0.3% to $X in 2021. The market value increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in the immediate term.

Stranded Wire Production in Southern Asia

In value terms, stranded wire production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 5.2% against the previous year. The level of production peaked at $X in 2020, and then contracted slightly in the following year.

Stranded Wire Exports

Exports in Southern Asia

In 2021, approx. X tons of stranded wire, ropes and cables were exported in Southern Asia; increasing by 14% compared with 2020. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 18%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, stranded wire exports soared to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -2.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 37% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of stranded wire, ropes and cables, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the stranded wire, ropes and cables exports, with a CAGR of +3.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest stranded wire supplier in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in India totaled +5.5%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, picking up by 3.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 when the export price increased by 23%. Over the period under review, the export prices hit record highs in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +2.1% per year.

Stranded Wire Imports

Imports in Southern Asia

Stranded wire imports skyrocketed to X tons in 2021, picking up by 39% against the previous year's figure. Over the period under review, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, stranded wire imports soared to $X in 2021. Overall, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the main importer of stranded wire, ropes and cables in Southern Asia, with the volume of imports finishing at X tons, which was approx. 65% of total imports in 2021. It was distantly followed by Bangladesh (X tons), Nepal (X tons), Pakistan (X tons) and Sri Lanka (X tons), together committing a 35% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to stranded wire imports into India stood at +13.6%. At the same time, Bangladesh (+19.8%), Nepal (+17.0%), Pakistan (+11.1%) and Sri Lanka (+2.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +19.8% from 2012-2021. While the share of Bangladesh (+7.4 p.p.) and Nepal (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sri Lanka (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported stranded wire, ropes and cables in Southern Asia, comprising 62% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 24% share of total imports. It was followed by Sri Lanka, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +11.2%. In the other countries, the average annual rates were as follows: Bangladesh (+29.3% per year) and Sri Lanka (+4.7% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, with an increase of 5.9% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :