ASEAN: Illuminated Sign Market 2024

Illuminated Sign Market Size in ASEAN

The ASEAN illuminated sign market amounted to $X in 2021, surging by 13% against the previous year. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.2% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Illuminated Sign Production in ASEAN

In value terms, illuminated sign production rose sharply to $X in 2021 estimated in export price. The total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.3% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Illuminated Sign Exports

Exports in ASEAN

In 2021, after three years of decline, there was significant growth in shipments abroad of illuminated signs and illuminated name-plates, when their volume increased by 65% to X tons. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, illuminated sign exports soared to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 38%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia represented the key exporter of illuminated signs and illuminated name-plates in ASEAN, with the volume of exports accounting for X tons, which was approx. 62% of total exports in 2021. It was distantly followed by Vietnam (X tons), constituting a 30% share of total exports. Thailand (X tons) and Singapore (X tons) followed a long way behind the leaders.

Exports from Malaysia increased at an average annual rate of +4.3% from 2012 to 2021. At the same time, Vietnam (+30.8%) and Thailand (+1.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +30.8% from 2012-2021. By contrast, Singapore (-4.1%) illustrated a downward trend over the same period. Vietnam (+26 p.p.) significantly strengthened its position in terms of the total exports, while Thailand, Singapore and Malaysia saw its share reduced by -2%, -4.4% and -12.2% from 2012 to 2021, respectively.

In value terms, the largest illuminated sign supplying countries in ASEAN were Vietnam ($X), Malaysia ($X) and Thailand ($X), with a combined 94% share of total exports.

Vietnam, with a CAGR of +29.9%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 ton in 2021, declining by -17.2% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 18% against the previous year. The level of export peaked at $X per ton in 2020, and then shrank sharply in the following year.

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 ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Illuminated Sign Imports

Imports in ASEAN

In 2021, approx. X tons of illuminated signs and illuminated name-plates were imported in ASEAN; increasing by 38% compared with the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 44% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, illuminated sign imports surged to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of illuminated sign imports in 2021 were Indonesia (X tons), the Philippines (X tons) and Malaysia (X tons), together resulting at 73% of total import. It was distantly followed by Thailand (X tons), constituting a 13% share of total imports. The following importers - Cambodia (X tons), Vietnam (X tons) and Singapore (X tons) - together made up 12% of total imports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +14.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest illuminated sign importing markets in ASEAN were Malaysia ($X), the Philippines ($X) and Indonesia ($X), with a combined 68% share of total imports. Thailand, Vietnam, Singapore and Cambodia lagged somewhat behind, together comprising a further 29%.

Cambodia, with a CAGR of +14.0%, saw 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

The import price in ASEAN stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 18% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform