ASEAN: Razor Market 2024

Razor Market Size in ASEAN

In 2021, after two years of growth, there was significant decline in the ASEAN razor market, when its value decreased by -15.4% to $X. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped markedly in the following year.

Razor Production in ASEAN

In value terms, razor production contracted to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +49.7% against 2014 indices. The growth pace was the most rapid in 2020 with an increase of 22%. As a result, production attained the peak level of $X, and then reduced in the following year.

Razor Exports

Exports in ASEAN

In 2021, razor exports in ASEAN soared to X tons, surging by 32% on the previous year's figure. Over the period under review, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 40%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, razor exports soared to $X in 2021. Overall, exports saw strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam dominates exports structure, accounting for X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Singapore (X tons), mixing up an 8% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to razor exports from Vietnam stood at +21.8%. At the same time, Thailand (+22.6%) and Singapore (+11.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +22.6% from 2012-2021. Vietnam (+42 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest razor supplier in ASEAN, comprising 89% of total exports. The second position in the ranking was held by Singapore ($X), with a 9.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam amounted to +23.1%. In the other countries, the average annual rates were as follows: Singapore (+11.5% per year) and Thailand (+8.9% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, with an increase of 1.8% against the previous year. Over the period under review, the export price, however, showed a slight slump. The pace of growth appeared the most rapid in 2020 an increase of 26%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 Vietnam (+1.1%), while the other leaders experienced a decline in the export price figures.

Razor Imports

Imports in ASEAN

In 2021, after four years of decline, there was significant growth in purchases abroad of razors, when their volume increased by 9.9% to X tons. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 52% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, razor imports stood at $X in 2021. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 45%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons), Singapore (X tons) and Vietnam (X tons) was the largest importer of razors in ASEAN, making up 65% of total import. Thailand (X tons) took the next position in the ranking, followed by the Philippines (X tons) and Malaysia (X tons). All these countries together held near 30% share of total imports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

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

In terms of the main importing countries, Vietnam, with a CAGR of +23.2%, 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, remaining constant against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 5% against the previous year. The level of import peaked at $X per ton in 2020, and then shrank slightly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Vietnam ($X per ton) and the Philippines ($X per ton), while Indonesia ($X per ton) and Cambodia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform