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

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

The Southeast Asian metal solid fuel appliances market dropped to $X in 2022, which is down by -5.1% against the previous year. In general, consumption recorded a pronounced reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, metal solid fuel appliances production declined slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced slump. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Iron Or Steel Solid Fuel Domestic Appliances

Exports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of iron or steel solid fuel domestic appliances, when their volume decreased by -37.1% to X units. Overall, exports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2021 when exports increased by 295% against the previous year. As a result, the exports reached the peak of X units, and then contracted rapidly in the following year.

In value terms, metal solid fuel appliances exports reduced markedly to $X in 2022. In general, exports, however, recorded 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 dropped dramatically in the following year.

Exports by Country

Vietnam was the largest exporting country with an export of around X units, which finished at 57% of total exports. Thailand (X units) took the second position in the ranking, distantly followed by Singapore (X units). All these countries together held near 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 ($X) remains the largest metal solid fuel appliances supplier in South-Eastern Asia, comprising 84% of total exports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam totaled +50.4%. In the other countries, the average annual rates were as follows: Thailand (+1.6% per year) and Singapore (+4.1% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, declining by -6.1% against the previous year. Overall, the export price, however, posted a strong expansion. The most prominent rate of growth was recorded in 2021 when the export price increased by 84% against the previous year. As a result, the export price reached the peak level of $X per unit, and then fell 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 South-Eastern Asia

After two years of growth, overseas purchases of iron or steel solid fuel domestic appliances decreased by -38.2% to X units in 2022. Overall, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2020 when imports increased by 132% against the previous year. The volume of import peaked at X units in 2021, and then dropped significantly in the following year.

In value terms, metal solid fuel appliances imports shrank markedly to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 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 dominates imports structure, finishing at X units, which was near 75% of total imports in 2022. The Philippines (X units) held a 9.1% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (8.6%). 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. While the share of Thailand (+30 p.p.) and the Philippines (+9.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (-7.4 p.p.), Brunei Darussalam (-9 p.p.) and Singapore (-21.1 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) constitutes the largest market for imported iron or steel solid fuel domestic appliances in South-Eastern Asia, comprising 58% of total imports. The second position in the ranking was held by Thailand ($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 expanded at an average annual rate of +5.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+5.1% per year) and the Philippines (-13.9% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, surging by 3.5% against the previous year. In general, the import price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2018 an increase of 95%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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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