Thailand: Expanded Metal Market 2024

Expanded Metal Market Size in Thailand

The Thai expanded metal market reached $X in 2022, stabilizing at the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.9% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Expanded Metal Production in Thailand

In value terms, expanded metal production reduced to $X in 2022 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -13.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 56% against the previous year. Expanded metal production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Expanded Metal Exports

Exports from Thailand

Expanded metal exports from Thailand soared to X tons in 2022, with an increase of 23% against 2021 figures. Overall, exports, however, faced a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 539%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, expanded metal exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 614%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for expanded metal exports from Thailand, accounting for a 67% share of total exports. Moreover, expanded metal exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Lao People's Democratic Republic amounted to +47.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+71.3% per year) and Myanmar (+6.3% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for iron or steel expanded metal exports from Thailand, comprising 85% of total exports. The second position in the ranking was held by Vietnam ($X), with an 8.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Lao People's Democratic Republic totaled +89.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+63.1% per year) and Myanmar (+7.4% per year).

Export Prices by Country

The average expanded metal export price stood at $X per ton in 2022, with an increase of 11% against the previous year. Overall, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2016 an increase of 161%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Myanmar ($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 Cambodia (+39.7%), while the prices for the other major destinations experienced more modest paces of growth.

Expanded Metal Imports

Imports into Thailand

In 2022, imports of iron or steel expanded metal into Thailand expanded significantly to X tons, increasing by 11% on the previous year's figure. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 523%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, expanded metal imports rose significantly to $X in 2022. In general, imports enjoyed significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 910% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main expanded metal supplier to Thailand, accounting for a 100% share of total imports. It was followed by the UK (X kg), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at +49.9%.

In value terms, China ($X) constituted the largest supplier of iron or steel expanded metal to Thailand, comprising 97% of total imports. The second position in the ranking was taken by the UK ($X), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +42.2%.

Import Prices by Country

In 2022, the average expanded metal import price amounted to $X per ton, growing by 1.8% against the previous year. In general, the import price, however, continues to indicate a deep reduction. The growth pace was the most rapid in 2013 an increase of 62%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+30.5%).

Source: IndexBox Platform

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