Thailand: Market for Welded And Cold-Formed Sections Of Steel 2024

Market Size for Welded And Cold-Formed Sections Of Steel in Thailand

The Thai market for welded and cold-formed sections of steel fell to $X in 2022, which is down by -3.4% against the previous year. Over the period under review, consumption, however, saw a noticeable descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Welded And Cold-Formed Sections Of Steel in Thailand

In value terms, welded and cold-formed steel sections production reduced to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt downturn. The growth pace was the most rapid in 2017 when the production volume increased by 30% against the previous year. Welded and cold-formed steel sections production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Welded And Cold-Formed Sections Of Steel

Exports from Thailand

In 2022, welded and cold-formed steel sections exports from Thailand soared to X tons, rising by 77% against the previous year. In general, exports, however, continue to indicate a abrupt slump. The growth pace was the most rapid in 2020 when exports increased by 155%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, welded and cold-formed steel sections exports skyrocketed to $X in 2022. Overall, exports, however, faced a dramatic descent. The growth pace was the most rapid in 2018 when exports increased by 66% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Egypt (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of welded and cold-formed steel sections exports from Thailand, with a combined 89% share of total exports. Cambodia, China, Sri Lanka and Vietnam lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +38.6%), while the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Myanmar ($X) and Lao People's Democratic Republic ($X) constituted the largest markets for welded and cold-formed steel sections exported from Thailand worldwide, with a combined 85% share of total exports. China, Sri Lanka, Cambodia and Vietnam lagged somewhat behind, together comprising a further 11%.

Sri Lanka, with a CAGR of +11.1%, recorded the highest growth rate of the value of exports, among the main countries of destination 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 export price for welded and cold-formed sections of steel amounted to $X per ton, shrinking by -16.7% against the previous year. In general, the export price recorded a abrupt setback. The growth pace was the most rapid in 2021 when the average export price increased by 92%. The export price peaked at $X per ton in 2012; however, from 2013 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 Vietnam ($X per ton), while the average price for exports to Cambodia ($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 Vietnam (+19.0%), while the prices for the other major destinations experienced a decline.

Imports of Welded And Cold-Formed Sections Of Steel

Imports into Thailand

In 2022, overseas purchases of welded and cold-formed sections of steel were finally on the rise to reach X tons after three years of decline. In general, imports showed a resilient expansion. The growth pace was the most rapid in 2014 with an increase of 795%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, welded and cold-formed steel sections imports declined notably to $X in 2022. Over the period under review, imports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2014 when imports increased by 578%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main welded and cold-formed steel sections supplier to Thailand, accounting for a 95% share of total imports. It was followed by Japan (X tons), with a 2.2% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at +39.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+11.7% per year) and China (-26.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of welded and cold-formed sections of steel to Thailand, comprising 77% of total imports. The second position in the ranking was held by Japan ($X), with a 6.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.4% per year) and China (-24.0% per year).

Import Prices by Country

The average import price for welded and cold-formed sections of steel stood at $X per ton in 2022, which is down by -80.8% against the previous year. Over the period under review, the import price faced a abrupt descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 49% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+68.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :