ASEAN: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in ASEAN

The ASEAN conveyor or transmission belt market amounted to $X in 2021, growing by 14% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting in ASEAN

In value terms, conveyor or transmission belt production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 57% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in ASEAN

In 2021, overseas shipments of conveyor or transmission belts or belting were finally on the rise to reach X tons after three years of decline. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, conveyor or transmission belt exports skyrocketed to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand was the key exporter of conveyor or transmission belts or belting in ASEAN, with the volume of exports recording X tons, which was approx. 44% of total exports in 2021. It was distantly followed by Indonesia (X tons), Vietnam (X tons), Singapore (X tons) and Malaysia (X tons), together achieving a 55% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +11.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt supplying countries in ASEAN were Thailand ($X), Singapore ($X) and Indonesia ($X), with a combined 85% share of total exports. Vietnam and Malaysia lagged somewhat behind, together accounting for a further 15%.

Vietnam, with a CAGR of +8.6%, recorded 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 mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, the export price continues to indicate a mild decline. The most prominent rate of growth was recorded in 2019 when the export price increased by 13%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.3%), while the other leaders experienced a decline in the export price figures.

Imports of Conveyor Or Transmission Belts Or Belting

Imports in ASEAN

In 2021, overseas purchases of conveyor or transmission belts or belting were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. Overall, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons), distantly followed by Vietnam (X tons), Thailand (X tons), Malaysia (X tons), the Philippines (X tons), Myanmar (X tons) and Singapore (X tons) represented the largest importers of conveyor or transmission belts or belting, together creating 98% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +12.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt importing markets in ASEAN were Indonesia ($X), Vietnam ($X) and Thailand ($X), together accounting for 62% of total imports. These countries were followed by Singapore, Malaysia, the Philippines and Myanmar, which together accounted for a further 36%.

In terms of the main importing countries, the Philippines, with a CAGR of +11.9%, 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

The import price in ASEAN stood at $X per ton in 2021, with a decrease of -3.9% against the previous year. Overall, the import price continues to indicate a slight curtailment. The growth pace was the most rapid in 2016 an increase of 17% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform