ASEAN: Artificial Fur Market 2025

Artificial Fur Market Size in ASEAN

The ASEAN artificial fur market declined significantly to $X in 2022, waning by -42.9% against the previous year. Overall, consumption continues to indicate a perceptible decline. As a result, consumption attained the peak level of $X, and then dropped markedly in the following year.

Artificial Fur Production in ASEAN

In value terms, artificial fur production declined slightly to $X in 2022 estimated in export price. In general, production continues to indicate a deep downturn. The growth pace was the most rapid in 2015 with an increase of 18%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Artificial Fur Exports

Exports in ASEAN

After four years of decline, shipments abroad of artificial fur increased by 65% to X tons in 2022. Overall, exports showed strong growth. The pace of growth appeared the most rapid in 2013 when exports increased by 155% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, artificial fur exports surged to $X in 2022. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 370%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand dominates exports structure, reaching X tons, which was approx. 86% of total exports in 2022. It was distantly followed by the Philippines (X tons), creating a 7.6% share of total exports. Malaysia (X tons) and Brunei Darussalam (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +23.5% from 2012 to 2022. At the same time, Brunei Darussalam (+1,346.7%) and the Philippines (+28.3%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +1,346.7% from 2012-2022. By contrast, Malaysia (-10.7%) illustrated a downward trend over the same period. Thailand (+55 p.p.), the Philippines (+7.6 p.p.) and Brunei Darussalam (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -25.7% from 2012 to 2022, respectively.

In value terms, Thailand ($X), the Philippines ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, with a combined 95% share of total exports. Brunei Darussalam lagged somewhat behind, comprising a further 0.1%.

Brunei Darussalam, with a CAGR of +676.6%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, declining by -16.1% against the previous year. Overall, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 105% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+24.3%), while the other leaders experienced a decline in the export price figures.

Artificial Fur Imports

Imports in ASEAN

In 2022, approx. X tons of artificial fur were imported in ASEAN; with an increase of 11% compared with the previous year's figure. Over the period under review, imports saw a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 87%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, artificial fur imports contracted to $X in 2022. In general, imports posted a prominent expansion. The pace of growth was the most pronounced in 2014 when imports increased by 73% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then declined in the following year.

Imports by Country

Thailand was the major importing country with an import of about X tons, which recorded 68% of total imports. Myanmar (X tons) ranks second in terms of the total imports with a 12% share, followed by Vietnam (7.2%), Cambodia (6%) and the Philippines (5.3%).

From 2012 to 2022, average annual rates of growth with regard to artificial fur imports into Thailand stood at +40.8%. At the same time, Myanmar (+132.7%), Cambodia (+51.8%), the Philippines (+42.4%) and Vietnam (+25.2%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +132.7% from 2012-2022. While the share of Thailand (+27 p.p.), Myanmar (+12 p.p.), Cambodia (+4.3 p.p.) and the Philippines (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (-6.7 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X), Cambodia ($X) and Myanmar ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 67% of total imports.

In terms of the main importing countries, Myanmar, with a CAGR of +102.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, falling by -14.1% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The pace of growth was the most pronounced in 2014 when the import price increased by 6.8%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Cambodia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform