ASEAN: Market for Hand-Operated Drilling, Threading or Tapping Tools 2024

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in ASEAN

The ASEAN market for hand-operated drilling, threading or tapping tools expanded significantly to $X in 2022, growing by 7% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -9.7% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Hand-Operated Drilling, Threading or Tapping Tools in ASEAN

In value terms, production of hand-operated drilling, threading or tapping tools amounted to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.0% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 105%. Over the period under review, production of reached the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports in ASEAN

In 2022, shipments abroad of hand-operated drilling, threading or tapping tools increased by 11% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when exports increased by 43% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, exports of hand-operated drilling, threading or tapping tools skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2017 when exports increased by 44%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Singapore (X tons) represented the main exporter of hand-operated drilling, threading or tapping tools, creating 47% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 27% share, followed by Indonesia (21%). Thailand (X tons) 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 Indonesia (with a CAGR of -1.6%), while the other leaders experienced a decline in the exports figures.

In value terms, Singapore ($X) remains the largest hand-operated drilling, threading or tapping tool supplier in ASEAN, comprising 63% of total exports. The second position in the ranking was held by Malaysia ($X), with a 22% share of total exports. It was followed by Indonesia, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to -13.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-15.4% per year) and Indonesia (-15.8% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, picking up by 6.2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 95%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a 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 Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports in ASEAN

In 2022, the amount of hand-operated drilling, threading or tapping tools imported in ASEAN surged to X tons, picking up by 35% on 2021. Over the period under review, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 213%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of hand-operated drilling, threading or tapping tools surged to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 62%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Malaysia dominates tools structure, recording X tons, which was near 86% of total imports in 2022. It was distantly followed by Indonesia (X tons), committing a 5.4% share of total imports. The following importers - Singapore (X tons), Thailand (X tons) and the Philippines (X tons) - together made up 7.5% of total imports.

Malaysia was also the fastest-growing in terms of the hand-operated drilling, threading or tapping tools imports, with a CAGR of +39.7% from 2012 to 2022. At the same time, Thailand (+9.2%) displayed positive paces of growth. By contrast, Singapore (-1.6%), the Philippines (-2.8%) and Indonesia (-7.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia increased by +74 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported hand-operated drilling, threading or tapping tools in ASEAN, comprising 58% of total imports. The second position in the ranking was held by Singapore ($X), with an 18% share of total imports. It was followed by the Philippines, with a 10% share.

In Malaysia, imports of hand-operated drilling, threading or tapping tools expanded at an average annual rate of +17.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (-2.7% per year) and the Philippines (+23.8% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, declining by -14.1% against the previous year. In general, the import price recorded a deep contraction. The growth pace was the most rapid in 2021 an increase of 36%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($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 (+27.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform