Thailand: Market for Iron Or Steel Bridges And Bridge-Sections 2024

Market Size for Iron Or Steel Bridges And Bridge-Sections in Thailand

In 2022, the Thai iron or steel bridges market increased by 3.3% to $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Iron Or Steel Bridges And Bridge-Sections in Thailand

In value terms, iron or steel bridges production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period 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 2014 with an increase of 44%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Iron Or Steel Bridges And Bridge-Sections

Exports from Thailand

After two years of growth, overseas shipments of iron or steel bridges and bridge-sections decreased by -14.3% to X tons in 2022. Over the period under review, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2017 with an increase of 702%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron or steel bridges exports surged to $X in 2022. In general, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 347%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The Netherlands (X tons) was the main destination for iron or steel bridges exports from Thailand, accounting for a 69% share of total exports. Moreover, iron or steel bridges exports to the Netherlands exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), fivefold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +113.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-14.2% per year) and Taiwan (Chinese) (+126.7% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for iron or steel bridges and bridge-sections exports from Thailand, comprising 90% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 3.6% share of total exports. It was followed by Lao People's Democratic Republic, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +161.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+81.8% per year) and Lao People's Democratic Republic (-10.4% per year).

Export Prices by Country

The average iron or steel bridges export price stood at $X per ton in 2022, growing by 170% against the previous year. Over the period under review, the export price continues to indicate a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Myanmar ($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 Singapore (+29.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Or Steel Bridges And Bridge-Sections

Imports into Thailand

Iron or steel bridges imports into Thailand surged to X tons in 2022, with an increase of 91% on 2021 figures. Over the period under review, imports recorded mild growth. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, iron or steel bridges imports surged to $X in 2022. Overall, imports showed a moderate increase. The pace of growth was the most pronounced in 2019 when imports increased by 93%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel bridges supplier to Thailand, with a 89% share of total imports. Moreover, iron or steel bridges imports from China exceeded the figures recorded by the second-largest supplier, Austria (X tons), more than tenfold. The third position in this ranking was held by the UK (X tons), with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+5.2% per year) and the UK (-11.5% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel bridges and bridge-sections to Thailand, comprising 79% of total imports. The second position in the ranking was held by Austria ($X), with a 13% share of total imports. It was followed by the UK, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+8.5% per year) and the UK (-5.4% per year).

Import Prices by Country

The average iron or steel bridges import price stood at $X per ton in 2022, which is down by -5.5% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel bridges import price increased by +21.0% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 51%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+31.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :