Thailand: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in Thailand

The Thai concrete reinforcing bar market reduced remarkably to $X in 2022, waning by -59.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a abrupt shrinkage. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Concrete Reinforcing Bar Exports

Exports from Thailand

In 2022, shipments abroad of concrete reinforcing bars was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports posted a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, concrete reinforcing bar exports surged to $X in 2022. In general, exports enjoyed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for concrete reinforcing bar exports from Thailand, accounting for a 51% share of total exports. Moreover, concrete reinforcing bar exports to Canada exceeded the volume sent to the second major destination, Myanmar (X tons), threefold. The third position in this ranking was held by India (X tons), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to +408.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+270.6% per year) and India (+93.9% per year).

In value terms, Canada ($X) emerged as the key foreign market for concrete reinforcing bars exports from Thailand, comprising 54% of total exports. The second position in the ranking was held by Myanmar ($X), with an 18% share of total exports. It was followed by India, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada amounted to +433.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+263.2% per year) and India (+91.9% per year).

Export Prices by Country

The average concrete reinforcing bar export price stood at $X per ton in 2022, picking up by 2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 37%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Canada ($X per ton) and Myanmar ($X per ton), while the average price for exports to Cambodia ($X per ton) and Lao People's Democratic Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+5.0%), while the prices for the other major destinations experienced a decline.

Concrete Reinforcing Bar Imports

Imports into Thailand

In 2022, approx. X tons of concrete reinforcing bars were imported into Thailand; with a decrease of -3.6% against the previous year. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.0% 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 +111.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 120% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, concrete reinforcing bar imports expanded remarkably to $X in 2022. In general, total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +147.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 134% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of concrete reinforcing bar imports to Thailand, with a combined 93% share of total imports. Taiwan (Chinese) and Indonesia lagged somewhat behind, together accounting for a further 5.3%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +49.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of concrete reinforcing bars to Thailand, comprising 49% of total imports. The second position in the ranking was held by China ($X), with a 24% share of total imports. It was followed by South Korea, with a 20% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.1% per year) and South Korea (+11.4% per year).

Import Prices by Country

In 2022, the average concrete reinforcing bar import price amounted to $X per ton, rising by 9.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 50% against the previous year. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and South Korea ($X per ton), while the price for China ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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