Asia-Pacific: Market for Iron Or Steel Solid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Solid Fuel Domestic Appliances in Asia-Pacific

The Asia-Pacific metal solid fuel appliances market fell to $X in 2022, approximately mirroring the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Iron Or Steel Solid Fuel Domestic Appliances in Asia-Pacific

In value terms, metal solid fuel appliances production contracted to $X in 2022 estimated in export price. In general, production recorded a pronounced slump. The pace of growth was the most pronounced in 2016 when the production volume increased by 22% against the previous year. Over the period under review, production attained the maximum level 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 Asia-Pacific

After two years of growth, overseas shipments of iron or steel solid fuel domestic appliances decreased by -17.6% to X units in 2022. In general, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 49%. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, metal solid fuel appliances exports declined sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 78%. As a result, the exports reached the peak of $X, and then declined remarkably in the following year.

Exports by Country

China prevails in exports structure, accounting for X units, which was near 86% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), mixing up a 6.2% share of total exports. Vietnam (X units) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -18.2% from 2012 to 2022. At the same time, Vietnam (+36.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +36.8% from 2012-2022. By contrast, Taiwan (Chinese) (-3.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Taiwan (Chinese) and Vietnam increased by +4.9 and +2.9 percentage points, respectively.

In value terms, China ($X) remains the largest metal solid fuel appliances supplier in Asia-Pacific, comprising 93% of total exports. The second position in the ranking was held by Vietnam ($X), with a 4.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China totaled +10.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+50.4% per year) and Taiwan (Chinese) (+5.4% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, declining by -3.6% against the previous year. Overall, the export price, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2018 an increase of 425% against the previous year. The level of export peaked at $X per unit in 2021, and then reduced modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+34.7%), while the other leaders experienced more modest paces of growth.

Imports of Iron Or Steel Solid Fuel Domestic Appliances

Imports in Asia-Pacific

In 2022, overseas purchases of iron or steel solid fuel domestic appliances decreased by -16.7% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 56%. As a result, imports reached the peak of X units, and then fell sharply in the following year.

In value terms, metal solid fuel appliances imports shrank to $X in 2022. Over the period under review, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Australia represented the largest importer of iron or steel solid fuel domestic appliances in Asia-Pacific, with the volume of imports resulting at X units, which was approx. 53% of total imports in 2022. Thailand (X units) held the second position in the ranking, followed by Hong Kong SAR (X units) and New Zealand (X units). All these countries together held near 30% share of total imports. Japan (X units), China (X units), South Korea (X units), the Philippines (X units) and Pakistan (X units) followed a long way behind the leaders.

Imports into Australia increased at an average annual rate of +11.7% from 2012 to 2022. At the same time, China (+37.6%), Pakistan (+35.3%), Thailand (+20.7%), New Zealand (+15.0%), Hong Kong SAR (+14.2%) and South Korea (+7.9%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +37.6% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, the Philippines (-25.8%) illustrated a downward trend over the same period. While the share of Thailand (+8.4 p.p.), Hong Kong SAR (+2.2 p.p.), China (+1.9 p.p.), the Philippines (+1.8 p.p.), Australia (+1.6 p.p.) and Pakistan (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-8.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal solid fuel appliances importing markets in Asia-Pacific were Australia ($X), Japan ($X) and South Korea ($X), with a combined 81% share of total imports. New Zealand, China, Thailand, the Philippines, Hong Kong SAR and Pakistan lagged somewhat behind, together comprising a further 9.8%.

Hong Kong SAR, with a CAGR of +18.4%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, increasing by 12% against the previous year. Overall, the import price, however, recorded a pronounced decrease. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per unit), while Pakistan ($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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