The Thailand steel market size reached USD 6,119.82 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 8,076.13 Million by 2033, exhibiting a growth rate (CAGR) of 3.13% during 2025-2033. Infrastructure development, urbanization, construction demand, and manufacturing growth are some of the factors contributing to Thailand steel market share. Government initiatives, such as the Eastern Economic Corridor (EEC), along with increasing demand for automotive and electrical products, also significantly contribute to market expansion and steel consumption.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 6,119.82 Million |
Market Forecast in 2033 | USD 8,076.13 Million |
Market Growth Rate 2025-2033 | 3.13% |
Shift toward Sustainable and Premium Steel Products
Thailand's steel market is increasingly embracing high-quality, eco-friendly products, especially in the kitchenware sector. Manufacturers are focusing on producing durable, functional stainless steel items that not only meet consumer needs but also emphasize sustainability. The demand for innovative, long-lasting products is on the rise, particularly as more consumers prioritize environmentally conscious choices. Companies are adapting to this growing preference by investing in advanced production capabilities and creating products that align with global sustainability trends. This shift reflects a broader movement toward reducing environmental impact, promoting responsible manufacturing, and meeting the demands of a more eco-aware consumer base. As the market evolves, the emphasis on sustainable steel production practices continues to shape Thailand’s industrial landscape. These factors are intensifying the Thailand steel market growth. For example, in August 2024, Myrex Thailand re-entered the stainless steel cookware market with the launch of its MEYER White Steel and Luna Series. This move aims to capture the THB 35 Billion kitchenware market, driven by a focus on quality, functionality, and sustainability. With a production capacity of over 150,000 units daily, Myrex plans to strengthen its global cookware leadership and expand its reach among home cooking enthusiasts.
Innovative Approach to Base Metal Production
In Thailand, the steel market is experiencing a shift toward more efficient metal production, driven by new developments in the oil and petrochemical industries. A new plant in the Eastern Economic Corridor (EEC) is set to produce essential base metals, including steel, by recycling spent catalysts from oil refining and petrochemical processes. This initiative aligns with the country’s goals to reduce metal imports, boost exports, and strengthen the circular economy. The plant, supported by substantial investment, will use advanced technology to improve resource efficiency and waste management. As the industry evolves, this project represents a significant step in modernizing Thailand’s industrial landscape and enhancing its competitive position in the global market. For instance, in April 2024, PLUS Exploration, a key player in Thailand’s oil and gas and petrochemical sectors, partnered with Chinese investors to create the country’s first base metal production plant from spent catalysts. The joint venture, backed by over THB 1 Billion in investment, aims to produce essential base metals, including steel, from spent catalysts sourced from the oil refining and petrochemical industries. Located in the Eastern Economic Corridor (EEC), the plant supports Thailand’s national goals to reduce metal imports, boost exports, and enhance the circular economy with eco-friendly technology.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, product, and application.
Type Insights:
The report has provided a detailed breakup and analysis of the market based on the type. This includes flat steel and long steel.
Product Insights:
A detailed breakup and analysis of the market based on the product have also been provided in the report. This includes structural steel, prestressing steel, bright steel, welding wire and rod, iron steel wire, ropes, and braids.
Application Insights:
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes building and construction, electrical appliances, metal products, automotive, transportation, mechanical equipment, and domestic appliances.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include Bangkok, Eastern, Northeastern, Southern, Northern, and others.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Types Covered | Flat Steel, Long Steel |
Products Covered | Structural Steel, Prestressing Steel, Bright Steel, Welding Wire and Rod, Iron Steel Wire, Ropes, Braids |
Applications Covered | Building and Construction, Electrical Appliances, Metal Products, Automotive, Transportation, Mechanical Equipment, Domestic Appliances |
Regions Covered | Bangkok, Eastern, Northeastern, Southern, Northern, Others |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: