ASEAN: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in ASEAN

The ASEAN optical radiation instruments market soared to $X in 2022, growing by 181% against the previous year. Overall, consumption continues to indicate a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Optical Radiation Instruments Production in ASEAN

In value terms, optical radiation instruments production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production saw prominent growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 45% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Optical Radiation Instruments Exports

Exports in ASEAN

In 2022, overseas shipments of instruments using optical radiations decreased by -34.8% to X units, falling for the second consecutive year after nine years of growth. In general, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 83% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, optical radiation instruments exports skyrocketed to $X in 2022. Over the period under review, exports, however, enjoyed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore prevails in exports structure, amounting to X units, which was near 90% of total exports in 2022. It was distantly followed by Malaysia (X units), mixing up a 6.1% share of total exports. Thailand (X units) took a relatively small share of total exports.

Exports from Singapore increased at an average annual rate of +9.7% from 2012 to 2022. At the same time, Thailand (+31.0%) and Malaysia (+12.5%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +31.0% from 2012-2022. While the share of Thailand (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-2.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest optical radiation instruments supplier in ASEAN, comprising 95% of total exports. The second position in the ranking was held by Malaysia ($X), with a 3.4% share of total exports.

In Singapore, optical radiation instruments exports increased at an average annual rate of +19.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+13.4% per year) and Thailand (+22.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, increasing by 121% against the previous year. In general, the export price posted prominent growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, 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 (+8.5%), while the other leaders experienced mixed trends in the export price figures.

Optical Radiation Instruments Imports

Imports in ASEAN

In 2022, the amount of instruments using optical radiations imported in ASEAN soared to X units, jumping by 21% against the previous year's figure. Over the period under review, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 30% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, optical radiation instruments imports soared to $X in 2022. In general, imports recorded a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Singapore (X units) represented the main importer of instruments using optical radiations, making up 45% of total imports. Thailand (X units) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (16%), Vietnam (13%) and Malaysia (4.5%). The Philippines (X units) held a minor share of total imports.

Imports into Singapore increased at an average annual rate of +16.8% from 2012 to 2022. At the same time, Vietnam (+21.6%), the Philippines (+19.2%), Thailand (+18.5%), Indonesia (+12.1%) and Malaysia (+6.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +21.6% from 2012-2022. Vietnam (+5.1 p.p.), Thailand (+3.6 p.p.) and Singapore (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Indonesia saw its share reduced by -6.1% and -6.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported instruments using optical radiations in ASEAN, comprising 65% of total imports. The second position in the ranking was held by Vietnam ($X), with a 9.8% share of total imports. It was followed by Thailand, with an 8.9% share.

In Singapore, optical radiation instruments imports expanded at an average annual rate of +20.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+15.4% per year) and Thailand (+9.2% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, increasing by 12% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform