Thailand: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Thailand

In 2022, the Thai market for hot-rolled wire rod in coil of stainless steel decreased by -3% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +46.9% against 2019 indices. As a result, consumption attained the peak level of $X, and then dropped slightly in the following year.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports from Thailand

In 2022, the amount of hot-rolled wire rod in coil of stainless steel exported from Thailand soared to X tons, jumping by 121% compared with 2021 figures. Overall, exports, however, saw a noticeable decline. The pace of growth appeared the most rapid in 2013 with an increase of 272% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod exports soared to $X in 2022. Over the period under review, exports, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 190% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for hot-rolled wire stainless steel rod exports from Thailand, with a 57% share of total exports. Moreover, hot-rolled wire stainless steel rod exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Japan (X tons), threefold. Myanmar (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) totaled -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+172.8% per year) and Myanmar (+3.9% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for hot-rolled wire rod in coil of stainless steel exports from Thailand, comprising 65% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by Lao People's Democratic Republic, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) amounted to -5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+162.5% per year) and Lao People's Democratic Republic (+9.8% per year).

Export Prices by Country

The average export price for hot-rolled wire rod in coil of stainless steel stood at $X per ton in 2022, with an increase of 13% against the previous year. Over the period under review, the export price showed a mild increase. The pace of growth appeared the most rapid in 2014 an increase of 126%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+39.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports into Thailand

After two years of growth, supplies from abroad of hot-rolled wire rod in coil of stainless steel decreased by -18.1% to X tons in 2022. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 26%. As a result, imports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, hot-rolled wire stainless steel rod imports expanded notably to $X in 2022. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +68.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 58%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of hot-rolled wire stainless steel rod imports to Thailand, with a combined 92% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +9.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest hot-rolled wire stainless steel rod suppliers to Thailand were China ($X), Taiwan (Chinese) ($X) and Japan ($X), with a combined 91% share of total imports.

Among the main suppliers, China, with a CAGR of +12.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for hot-rolled wire rod in coil of stainless steel stood at $X per ton in 2022, with an increase of 30% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled wire stainless steel rod import price increased by +62.9% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably 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 ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :