ASEAN: Market for Mechanical Appliances For Projecting, Dispersing Or Spraying 2024

Market Size for Mechanical Appliances For Projecting, Dispersing Or Spraying in ASEAN

In 2022, the ASEAN market for mechanical appliances for projecting, dispersing or spraying was finally on the rise to reach $X after two years of decline. In general, consumption saw a noticeable increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Mechanical Appliances For Projecting, Dispersing Or Spraying in ASEAN

In value terms, production of mechanical appliances for projecting, dispersing or spraying fell modestly to $X in 2022 estimated in export price. Overall, production continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 64%. As a result, production reached the peak level of $X. From 2020 to 2022, production of growth remained at a somewhat lower figure.

Exports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Exports in ASEAN

After two years of growth, overseas shipments of mechanical appliances for projecting, dispersing or spraying decreased by -30.3% to X units in 2022. Overall, exports, however, showed buoyant growth. The growth pace was the most rapid in 2020 with an increase of 99% against the previous year. Over the period under review, the exports of attained the maximum at X units in 2021, and then contracted markedly in the following year.

In value terms, exports of mechanical appliances for projecting, dispersing or spraying shrank markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2020 when exports increased by 108% against the previous year. The level of export peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

In 2022, Thailand (X units) was the major exporter of mechanical appliances for projecting, dispersing or spraying, committing 51% of total exports. Singapore (X units) took the second position in the ranking, followed by the Philippines (X units), Indonesia (X units) and Malaysia (X units). All these countries together took near 45% share of total exports. Vietnam (X units) took a minor share of total exports.

Exports from Thailand increased at an average annual rate of +22.3% from 2012 to 2022. At the same time, Indonesia (+28.7%), the Philippines (+14.3%), Vietnam (+11.0%) and Singapore (+5.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +28.7% from 2012-2022. By contrast, Malaysia (-4.3%) illustrated a downward trend over the same period. Thailand (+28 p.p.), Indonesia (+6.3 p.p.) and the Philippines (+2 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Malaysia saw its share reduced by -16% and -19.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest mechanical appliances for projecting, dispersing or spraying supplying countries in ASEAN were the Philippines ($X), Thailand ($X) and Singapore ($X), with a combined 78% share of total exports. Malaysia, Vietnam and Indonesia lagged somewhat behind, together comprising a further 22%.

Indonesia, with a CAGR of +26.2%, recorded the highest rates of growth with regard to 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 unit in 2022, shrinking by -28.4% against the previous year. In general, the export price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2019 when the export price increased by 15% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.7%), while the other leaders experienced more modest paces of growth.

Imports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Imports in ASEAN

In 2022, overseas purchases of mechanical appliances for projecting, dispersing or spraying decreased by -0.3% to X units, falling for the third consecutive year after four years of growth. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 -11.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 40% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of mechanical appliances for projecting, dispersing or spraying fell to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 -13.0% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 35%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of mechanical appliances for projecting, dispersing or spraying, namely Indonesia, Vietnam and Thailand, represented more than two-thirds of total import. Malaysia (X units) took the next position in the ranking, followed by Singapore (X units). All these countries together took near 15% share of total imports. The Philippines (X units) and Cambodia (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +36.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical appliances for projecting, dispersing or spraying importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Indonesia ($X), together accounting for 72% of total imports. Singapore, Malaysia, the Philippines and Cambodia lagged somewhat behind, together comprising a further 27%.

Among the main importing countries, Cambodia, with a CAGR of +35.2%, saw the highest rates of growth with regard to 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 -3.9% against the previous year. Overall, the import price showed a slight contraction. The pace of growth was the most pronounced in 2018 when the import price increased by 17%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the import prices remained at a somewhat 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 ($X per unit), while Cambodia ($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 (+13.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform