ASEAN: Braces And Garters Market 2025

Braces And Garters Market Size in ASEAN

For the fourth year in a row, the ASEAN braces and garters market recorded growth in sales value, which increased by 0.7% to $X in 2022. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +59.0% against 2018 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Braces And Garters Production in ASEAN

In value terms, braces and garters production stood at $X in 2022 estimated in export price. Overall, production recorded a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 88%. Over the period under review, production attained the maximum level in 2022 and is likely to see steady growth in years to come.

Braces And Garters Exports

Exports in ASEAN

In 2022, braces and garters exports in ASEAN expanded sharply to X units, surging by 5.9% compared with the year before. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.8% against 2017 indices. The growth pace was the most rapid in 2015 when exports increased by 30%. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, braces and garters exports declined modestly to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -2.2% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 33% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand (X units) and Vietnam (X units) represented roughly 63% of total exports in 2022. It was distantly followed by Indonesia (X units) and Cambodia (X units), together comprising a 28% share of total exports. Malaysia (X units) and Myanmar (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Myanmar (with a CAGR of +256.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest braces and garters supplying countries in ASEAN were Vietnam ($X), Thailand ($X) and Cambodia ($X), with a combined 77% share of total exports. These countries were followed by Indonesia, Myanmar and Malaysia, which together accounted for a further 21%.

In terms of the main exporting countries, Myanmar, with a CAGR of +252.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, dropping by -6.3% against the previous year. Overall, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2019 an increase of 15%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Myanmar ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Braces And Garters Imports

Imports in ASEAN

In 2022, supplies from abroad of braces, suspenders and garters decreased by -13.1% to X units for the first time since 2018, thus ending a three-year rising trend. Total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 43%. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, braces and garters imports fell modestly to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 22% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X units) was the key importer of braces, suspenders and garters, comprising 38% of total imports. It was distantly followed by Malaysia (X units), Thailand (X units), Vietnam (X units) and Cambodia (X units), together achieving a 55% share of total imports. The Philippines (X units) and Brunei Darussalam (X units) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Brunei Darussalam (with a CAGR of +32.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 71% of total imports. These countries were followed by Cambodia, Malaysia, the Philippines and Brunei Darussalam, which together accounted for a further 26%.

Brunei Darussalam, with a CAGR of +22.1%, recorded the highest rates of growth with regard to 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

In 2022, the import price in ASEAN amounted to $X per unit, increasing by 10% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 57%. The level of import peaked at $X per unit in 2019; however, from 2020 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 Cambodia ($X per unit), while Brunei Darussalam ($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 (+24.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform