Thailand: Market for Iron or Steel Cans 2024

Market Size for Iron or Steel Cans in Thailand

The Thai iron or steel can market rose modestly to $X in 2021, growing by 4% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Iron or Steel Cans in Thailand

In value terms, iron or steel can production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 7% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Iron or Steel Cans

Exports from Thailand

After two years of growth, overseas shipments of iron or steel cans decreased by -8.3% to X units in 2021. Overall, total exports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +13.3% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of 39%. The exports peaked at X units in 2020, and then declined in the following year.

In value terms, iron or steel can exports rose modestly to $X in 2021. The total export value increased at an average annual rate of +3.3% 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 2014 with an increase of 40%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X units) was the main destination for iron or steel can exports from Thailand, accounting for a 44% share of total exports. Moreover, iron or steel can exports to Vietnam exceeded the volume sent to the second major destination, the Philippines (X units), fourfold. The third position in this ranking was taken by Sri Lanka (X units), with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam stood at +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+11.9% per year) and Sri Lanka (+29.9% per year).

In value terms, Vietnam ($X) remains the key foreign market for iron or steel cans exports from Thailand, comprising 40% of total exports. The second position in the ranking was held by the Philippines ($X), with a 15% share of total exports. It was followed by Sri Lanka, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam stood at +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+14.5% per year) and Sri Lanka (+27.7% per year).

Export Prices by Country

In 2021, the average iron or steel can export price amounted to $X per unit, increasing by 11% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Singapore ($X per unit), while the average price for exports to Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Cans

Imports into Thailand

In 2021, the amount of iron or steel cans imported into Thailand fell slightly to X units, remaining relatively unchanged against 2020. In general, total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +55.0% against 2016 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 42%. As a result, imports reached the peak of X units, and then shrank slightly in the following year.

In value terms, iron or steel can imports rose modestly to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 34% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Taiwan (Chinese) (X units) constituted the largest supplier of iron or steel can to Thailand, with a 66% share of total imports. Moreover, iron or steel can imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) stood at +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+25.5% per year) and Malaysia (+42.0% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of iron or steel cans to Thailand, comprising 64% of total imports. The second position in the ranking was taken by China ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) amounted to +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.8% per year) and Malaysia (+45.1% per year).

Import Prices by Country

The average iron or steel can import price stood at $X per unit in 2021, growing by 3.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 11% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Malaysia ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :