Thailand: Iron Angle Market 2024

Iron Angle Market Size in Thailand

In 2021, the Thai iron angle market decreased by -35.4% to $X, falling for the second year in a row after three years of growth. Overall, consumption saw a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Iron Angle Production in Thailand

In value terms, iron angle production expanded sharply to $X in 2021 estimated in export price. In general, production, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2018 with an increase of 20%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Iron Angle Exports

Exports from Thailand

After two years of decline, shipments abroad of angles, shapes and sections (of iron or non-alloy steel) increased by 82% to X tons in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, iron angle exports skyrocketed to $X in 2021. Overall, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons), New Zealand (X tons) and Hong Kong SAR (X tons) were the main destinations of iron angle exports from Thailand, together comprising 27% of total exports. These countries were followed by the Philippines, Indonesia, Singapore, Vietnam and Australia, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +276.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron angle exported from Thailand were Malaysia ($X), New Zealand ($X) and Hong Kong SAR ($X), together accounting for 27% of total exports. These countries were followed by the Philippines, Indonesia, Singapore, Vietnam and Australia, which together accounted for a further 20%.

Indonesia, with a CAGR of +287.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average iron angle export price amounted to $X per ton, with an increase of 47% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Hong Kong SAR ($X per ton) and New Zealand ($X per ton), while the average price for exports to Australia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Angle Imports

Imports into Thailand

In 2021, after two years of growth, there was significant decline in overseas purchases of angles, shapes and sections (of iron or non-alloy steel), when their volume decreased by -29.6% to X tons. Over the period under review, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 207% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then dropped remarkably in the following year.

In value terms, iron angle imports amounted to $X in 2021. In general, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 125% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest iron angle supplier to Thailand, with a 26% share of total imports. Moreover, iron angle imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+11.9% per year) and the United Arab Emirates (+40.7% per year).

In value terms, China ($X) constituted the largest supplier of angles, shapes and sections (of iron or non-alloy steel) to Thailand, comprising 18% of total imports. The second position in the ranking was taken by South Korea ($X), with a 7.3% share of total imports. It was followed by Japan, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.0% per year) and Japan (-1.0% per year).

Import Prices by Country

In 2021, the average iron angle import price amounted to $X per ton, with an increase of 44% against the previous year. Over the period under review, the import price, however, recorded a perceptible descent. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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