ASEAN: Curtains Market 2024

Curtains Market Size in ASEAN

In 2022, the ASEAN curtains market increased by 0.3% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Curtains Production in ASEAN

In value terms, curtains production totaled $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 13%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Curtains Exports

Exports in ASEAN

In 2022, shipments abroad of curtains and interior blinds decreased by -5.4% to X square meters for the first time since 2017, thus ending a four-year rising trend. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 with an increase of 38%. As a result, the exports attained the peak of X square meters. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, curtains exports contracted modestly to $X in 2022. In general, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 31%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam represented the major exporter of curtains and interior blinds in ASEAN, with the volume of exports accounting for X square meters, which was near 68% of total exports in 2022. Malaysia (X square meters) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (13%). Thailand (X square meters) took a relatively small share of total exports.

Vietnam was also the fastest-growing in terms of the curtains and interior blinds exports, with a CAGR of +9.6% from 2012 to 2022. At the same time, Malaysia (+6.5%) and Thailand (+4.2%) displayed positive paces of growth. By contrast, Indonesia (-1.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam increased by +18 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest curtains supplier in ASEAN, comprising 66% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total exports. It was followed by Malaysia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at +11.6%. In the other countries, the average annual rates were as follows: Indonesia (+6.2% per year) and Malaysia (+6.4% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per square meter, with an increase of 5.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2019 when the export price increased by 17% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per square meter), while Malaysia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+8.0%), while the other leaders experienced mixed trends in the export price figures.

Curtains Imports

Imports in ASEAN

In 2022, the amount of curtains and interior blinds imported in ASEAN dropped slightly to X square meters, remaining stable against the year before. Overall, imports, however, saw a resilient increase. The growth pace was the most rapid in 2014 when imports increased by 47%. Over the period under review, imports reached the peak figure at X square meters in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, curtains imports expanded to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.5% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia was the largest importer of curtains and interior blinds in ASEAN, with the volume of imports recording X square meters, which was near 40% of total imports in 2022. It was distantly followed by the Philippines (X square meters), Thailand (X square meters), Singapore (X square meters) and Indonesia (X square meters), together creating a 55% share of total imports. Vietnam (X square meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the Philippines ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 73% of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +32.5%, recorded the highest growth rate of 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 square meter in 2022, rising by 4.7% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 57%. The level of import peaked at $X per square meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per square meter), while Malaysia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+27.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform