ASEAN: Prisms And Mirrors Market 2024

Prisms And Mirrors Market Size in ASEAN

In 2022, the ASEAN prisms and mirrors market increased by 5.7% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, enjoyed a strong increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Prisms And Mirrors Production in ASEAN

In value terms, prisms and mirrors production contracted notably to $X in 2022 estimated in export price. Overall, production, however, recorded a buoyant increase. The growth pace was the most rapid in 2014 when the production volume increased by 204% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Prisms And Mirrors Exports

Exports in ASEAN

In 2022, shipments abroad of prisms and mirrors decreased by -20.4% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 52%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then dropped dramatically in the following year.

In value terms, prisms and mirrors exports expanded to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 73% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam represented the major exporting country with an export of about X tons, which recorded 75% of total exports. It was distantly followed by Singapore (X tons), achieving a 13% share of total exports. Malaysia (X tons), Myanmar (X tons), Thailand (X tons) and the Philippines (X tons) followed a long way behind the leaders.

Exports from Vietnam increased at an average annual rate of +39.4% from 2012 to 2022. At the same time, Myanmar (+121.5%) and Thailand (+3.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +121.5% from 2012-2022. By contrast, Malaysia (-1.9%), Singapore (-6.7%) and the Philippines (-13.1%) illustrated a downward trend over the same period. While the share of Vietnam (+69 p.p.) and Myanmar (+4.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-1.8 p.p.), Malaysia (-8.1 p.p.), the Philippines (-14.4 p.p.) and Singapore (-48.1 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest prisms and mirrors supplier in ASEAN, comprising 57% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 16% share of total exports. It was followed by Malaysia, with a 13% share.

In Singapore, prisms and mirrors exports declined by an average annual rate of -2.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+16.9% per year) and Malaysia (-0.4% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, growing by 31% against the previous year. In general, the export price, however, recorded a abrupt contraction. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

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

Prisms And Mirrors Imports

Imports in ASEAN

In 2022, supplies from abroad of prisms and mirrors decreased by -3.2% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2017 when imports increased by 343% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, prisms and mirrors imports expanded significantly to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +17.7% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 48%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Vietnam dominates imports structure, amounting to X tons, which was approx. 79% of total imports in 2022. Singapore (X tons) took the second position in the ranking, followed by the Philippines (X tons). All these countries together held near 14% share of total imports. The following importers - Malaysia (X tons) and Indonesia (X tons) - each resulted at a 4.2% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to prisms and mirrors imports into Vietnam stood at +47.8%. At the same time, the Philippines (+52.5%), Indonesia (+4.9%) and Singapore (+3.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +52.5% from 2012-2022. By contrast, Malaysia (-14.4%) illustrated a downward trend over the same period. Vietnam (+73 p.p.) and the Philippines (+5.1 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Singapore and Malaysia saw its share reduced by -2.9%, -17.9% and -43.4% from 2012 to 2022, respectively.

In value terms, the largest prisms and mirrors importing markets in ASEAN were Vietnam ($X), Singapore ($X) and the Philippines ($X), together accounting for 70% of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +45.3%, saw 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 ton in 2022, growing by 13% against the previous year. In general, the import price, however, showed a abrupt decline. The growth pace was the most rapid in 2021 when the import price increased by 25%. The level of import peaked at $X per ton in 2013; however, from 2014 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 ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform