Thailand: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Thailand

In 2022, the Thai non-alloy steel u-section market decreased by -12% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption continues to indicate a abrupt descent. The growth pace was the most rapid in 2017 when the market value increased by 6.5% against the previous year. Non-alloy steel u-section consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Non-Alloy Steel U-Section Production in Thailand

In value terms, non-alloy steel u-section production declined slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 when the production volume increased by 24% against the previous year. Non-alloy steel u-section production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Non-Alloy Steel U-Section Exports

Exports from Thailand

In 2022, shipments abroad of u-sections of non-alloy steel increased by 45% to X tons, rising for the second year in a row after two years of decline. Overall, exports continue to indicate measured growth. The most prominent rate of growth was recorded in 2018 with an increase of 110% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, non-alloy steel u-section exports soared to $X in 2022. Over the period under review, exports continue to indicate notable growth. The pace of growth appeared the most rapid in 2018 with an increase of 149%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Malaysia (X tons), New Zealand (X tons) and Vietnam (X tons) were the main destinations of non-alloy steel u-section exports from Thailand, together accounting for 57% of total exports. Singapore, Indonesia, Hong Kong SAR, China, the United Arab Emirates and Myanmar lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +188.2%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), New Zealand ($X) and Vietnam ($X) constituted the largest markets for non-alloy steel u-section exported from Thailand worldwide, with a combined 58% share of total exports. Singapore, Indonesia, Hong Kong SAR, China, Myanmar and the United Arab Emirates lagged somewhat behind, together comprising a further 37%.

In terms of the main countries of destination, Indonesia, with a CAGR of +193.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average non-alloy steel u-section export price amounted to $X per ton, growing by 7% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section export price increased by +55.4% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 45% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Myanmar ($X per ton) and New Zealand ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports into Thailand

In 2022, the amount of u-sections of non-alloy steel imported into Thailand amounted to X tons, growing by 9.9% compared with the previous year's figure. Over the period under review, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by 649%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, non-alloy steel u-section imports soared to $X in 2022. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 360%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Turkey (X tons) and the United States (X tons) were the main suppliers of non-alloy steel u-section imports to Thailand, together accounting for 69% of total imports. Japan, Germany, South Korea, Saudi Arabia and Australia lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +322.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-alloy steel u-section suppliers to Thailand were the United States ($X), China ($X) and Turkey ($X), together accounting for 72% of total imports. Japan, Germany, South Korea, Saudi Arabia and Australia lagged somewhat behind, together comprising a further 26%.

Saudi Arabia, with a CAGR of +360.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-alloy steel u-section import price stood at $X per ton in 2022, surging by 17% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section import price increased by +92.1% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by 66% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained 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 the United States ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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