ASEAN: Plastic Headgear Market 2025

Plastic Headgear Market Size in ASEAN

After two years of growth, the ASEAN plastic headgear market decreased by -15.5% to $X in 2022. In general, consumption posted measured growth. As a result, consumption reached the peak level of $X, and then shrank rapidly in the following year.

Plastic Headgear Production in ASEAN

In value terms, plastic headgear production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 23%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plastic Headgear Exports

Exports in ASEAN

In 2022, shipments abroad of headgear of rubber or plastic was finally on the rise to reach X units after two years of decline. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 43% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, plastic headgear exports soared to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 67%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Malaysia (X units) was the key exporter of headgear of rubber or plastic, making up 56% of total exports. Vietnam (X units) ranks second in terms of the total exports with a 14% share, followed by Myanmar (9%), Thailand (7.7%), Cambodia (7.5%) and Singapore (6.1%).

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of headgear of rubber or plastic. At the same time, Myanmar (+79.7%), Cambodia (+16.2%) and Singapore (+11.9%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +79.7% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Thailand (-8.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Myanmar, Cambodia and Singapore increased by +8.9, +5.7 and +3.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest plastic headgear supplier in ASEAN, comprising 45% of total exports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total exports. It was followed by Singapore, with a 14% share.

In Malaysia, plastic headgear exports increased at an average annual rate of +4.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+1.6% per year) and Singapore (+24.9% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, growing by 10% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic headgear export price increased by +83.3% against 2013 indices. The pace of growth appeared the most rapid in 2019 when the export price increased by 17%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+11.6%), while the other leaders experienced more modest paces of growth.

Plastic Headgear Imports

Imports in ASEAN

Plastic headgear imports expanded remarkably to X units in 2022, surging by 5.9% on 2021. Over the period under review, imports posted resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 57% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, plastic headgear imports contracted notably to $X in 2022. Overall, imports posted tangible growth. The pace of growth appeared the most rapid in 2021 when imports increased by 42% against the previous year. As a result, imports reached the peak of $X, and then shrank rapidly in the following year.

Imports by Country

In 2022, Thailand (X units) was the major importer of headgear of rubber or plastic, making up 48% of total imports. Vietnam (X units) ranks second in terms of the total imports with a 24% share, followed by Malaysia (12%) and Singapore (7.4%). The following importers - Indonesia (X units) and Myanmar (X units) - together made up 6.4% of total imports.

Imports into Thailand increased at an average annual rate of +31.2% from 2012 to 2022. At the same time, Myanmar (+32.6%), Malaysia (+8.0%) and Vietnam (+6.8%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +32.6% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (-11.9%) illustrated a downward trend over the same period. While the share of Thailand (+41 p.p.) and Myanmar (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (-3.2 p.p.), Singapore (-8.7 p.p.) and Indonesia (-29.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Malaysia ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 76% share of total imports. Thailand, Indonesia and Myanmar lagged somewhat behind, together accounting for a further 19%.

In terms of the main importing countries, Myanmar, with a CAGR of +22.7%, 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 unit in 2022, waning by -20.1% against the previous year. Over the period under review, the import price recorded a noticeable descent. The pace of growth was the most pronounced in 2020 an increase of 22% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform