ASEAN: Ball Bearing Market 2024

Ball Bearing Market Size in ASEAN

In 2021, the ASEAN ball bearing market increased by 11% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the near future.

Ball Bearing Production in ASEAN

In value terms, ball bearing production shrank to $X in 2021 estimated in export price. The total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +18.6% against 2014 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 54% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then contracted slightly in the following year.

Ball Bearing Exports

Exports in ASEAN

In 2021, exports of ball bearings in ASEAN declined to X tons, stabilizing at the year before. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 37% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, ball bearing exports rose modestly to $X in 2021. Total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +12.5% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 48% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X tons) was the main exporter of ball bearings, mixing up 42% of total exports. Singapore (X tons) held the second position in the ranking, followed by Indonesia (X tons) and Malaysia (X tons). All these countries together held approx. 54% share of total exports. The Philippines (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +8.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest ball bearing supplying countries in ASEAN were Thailand ($X), Singapore ($X) and Indonesia ($X), with a combined 82% share of total exports.

Thailand, with a CAGR of +9.0%, recorded the highest growth rate of 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 2021, the export price in ASEAN amounted to $X per ton, picking up by 5.1% against the previous year. Over the last nine years, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2014 when the export price increased by 12%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the Philippines ($X per ton) and Malaysia ($X per ton), while Indonesia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+5.7%), while the other leaders experienced more modest paces of growth.

Ball Bearing Imports

Imports in ASEAN

In 2021, supplies from abroad of ball bearings was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing imports skyrocketed to $X in 2021. In general, imports, however, showed a mild slump. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Indonesia (X tons), distantly followed by Singapore (X tons), Thailand (X tons), Vietnam (X tons) and Malaysia (X tons) were the main importers of ball bearings, together mixing up 95% of total imports. The Philippines (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +6.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing importing markets in ASEAN were Singapore ($X), Thailand ($X) and Vietnam ($X), with a combined 64% share of total imports. Indonesia, Malaysia and the Philippines lagged somewhat behind, together accounting for a further 35%.

The Philippines, with a CAGR of +17.5%, recorded the highest growth rate of the value of imports, in terms of 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 ASEAN stood at $X per ton in 2021, falling by -2.9% against the previous year. In general, the import price showed a perceptible descent. The growth pace was the most rapid in 2019 when the import price increased by 8.5% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+10.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform