ASEAN: Market for Iron Or Steel Solid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Solid Fuel Domestic Appliances in ASEAN

The ASEAN metal solid fuel appliances market declined to $X in 2022, with a decrease of -5.1% against the previous year. In general, consumption saw a perceptible descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Iron Or Steel Solid Fuel Domestic Appliances in ASEAN

In value terms, metal solid fuel appliances production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Iron Or Steel Solid Fuel Domestic Appliances

Exports in ASEAN

In 2022, after two years of growth, there was significant decline in shipments abroad of iron or steel solid fuel domestic appliances, when their volume decreased by -37.1% to X units. Overall, exports, however, saw resilient growth. The growth pace was the most rapid in 2021 with an increase of 295%. As a result, the exports reached the peak of X units, and then fell dramatically in the following year.

In value terms, metal solid fuel appliances exports fell sharply to $X in 2022. In general, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 626%. As a result, the exports attained the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Vietnam represented the key exporter of iron or steel solid fuel domestic appliances in ASEAN, with the volume of exports finishing at X units, which was approx. 57% of total exports in 2022. Thailand (X units) took the second position in the ranking, distantly followed by Singapore (X units). All these countries together took approx. 41% share of total exports.

Vietnam was also the fastest-growing in terms of the iron or steel solid fuel domestic appliances exports, with a CAGR of +36.8% from 2012 to 2022. At the same time, Singapore (+10.7%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. Vietnam (+50 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -50.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest metal solid fuel appliances supplier in ASEAN, comprising 84% of total exports. The second position in the ranking was held by Thailand ($X), with a 14% share of total exports.

In Vietnam, metal solid fuel appliances exports increased at an average annual rate of +50.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+1.6% per year) and Singapore (+4.1% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, falling by -6.1% against the previous year. In general, the export price, however, recorded a prominent increase. The growth pace was the most rapid in 2021 when the export price increased by 84%. As a result, the export price reached the peak level of $X per unit, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+9.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron Or Steel Solid Fuel Domestic Appliances

Imports in ASEAN

In 2022, after two years of growth, there was significant decline in purchases abroad of iron or steel solid fuel domestic appliances, when their volume decreased by -38.2% to X units. In general, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 132% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then dropped significantly in the following year.

In value terms, metal solid fuel appliances imports dropped rapidly to $X in 2022. Over the period under review, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 72% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand prevails in imports structure, finishing at X units, which was approx. 75% of total imports in 2022. The Philippines (X units) held the second position in the ranking, followed by Singapore (X units). All these countries together took approx. 18% share of total imports. Malaysia (X units) and Brunei Darussalam (X units) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the iron or steel solid fuel domestic appliances imports, with a CAGR of +20.7% from 2012 to 2022. At the same time, Malaysia (+3.9%) and Singapore (+1.4%) displayed positive paces of growth. By contrast, Brunei Darussalam (-4.7%) and the Philippines (-25.8%) illustrated a downward trend over the same period. Thailand (+30 p.p.) and the Philippines (+9.1 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Brunei Darussalam and Singapore saw its share reduced by -7.4%, -9% and -21.1% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported iron or steel solid fuel domestic appliances in ASEAN, comprising 58% of total imports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total imports. It was followed by the Philippines, with an 11% share.

In Malaysia, metal solid fuel appliances imports increased at an average annual rate of +5.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+5.1% per year) and the Philippines (-13.9% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, picking up by 3.5% against the previous year. In general, the import price, however, recorded a deep slump. The most prominent rate of growth was recorded in 2018 an increase of 95%. Over the period under review, import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+16.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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