ASEAN: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in ASEAN

The ASEAN market for plastic hoses and hose fittings surged to $X in 2021, picking up by 15% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2021.

Production of Plastic Hoses and Hose Fittings in ASEAN

In value terms, plastic hose and hose fitting production expanded remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 34% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Plastic Hoses and Hose Fittings

Exports in ASEAN

In 2021, shipments abroad of plastic hoses and hose fittings was finally on the rise to reach X tons after two years of decline. Total exports indicated a resilient expansion from 2012 to 2021: its volume 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 growth pace was the most rapid in 2018 with an increase of 24% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, plastic hose and hose fitting exports expanded remarkably to $X in 2021. Overall, exports recorded a resilient increase. The pace of growth was the most pronounced in 2018 when exports increased by 27%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

In 2021, Malaysia (X tons) and Vietnam (X tons) represented the major exporters of plastic hoses and hose fittings in ASEAN, together accounting for approx. 72% of total exports. Thailand (X tons) ranks next in terms of the total exports with a 16% share, followed by Singapore (7.7%). The following exporters - Indonesia (X tons) and the Philippines (X tons) - each accounted for a 3.9% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +23.2%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Vietnam ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2021, with a combined 81% share of total exports.

Vietnam, with a CAGR of +17.7%, 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 ton in 2021, picking up by 1.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2019 an increase of 23%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+15.6%), while the other leaders experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports in ASEAN

In 2021, approx. X tons of plastic hoses and hose fittings were imported in ASEAN; surging by 11% on 2020 figures. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +39.1% against 2015 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 24%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, plastic hose and hose fitting imports surged to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +98.9% against 2012 indices. The growth pace was the most rapid in 2013 when imports increased by 22%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Thailand (X tons), Vietnam (X tons), Singapore (X tons), Indonesia (X tons), the Philippines (X tons), Myanmar (X tons) and Malaysia (X tons) was the major importer of plastic hoses and hose fittings in ASEAN, committing 95% of total import.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +14.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Singapore ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, together accounting for 66% of total imports.

Among the main importing countries, Vietnam, with a CAGR of +12.6%, 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

In 2021, the import price in ASEAN amounted to $X per ton, surging by 8% against the previous year. Overall, the import price, however, continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2016 an increase of 13%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform