ASEAN: Fuse And Detonator Market 2024

Fuse And Detonator Market Size in ASEAN

The ASEAN fuse and detonator market fell slightly to $X in 2021, shrinking by -3.8% against the previous year. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.0% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Fuse And Detonator Production in ASEAN

In value terms, fuse and detonator production dropped slightly to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -16.2% against 2016 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 52% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Fuse And Detonator Exports

Exports in ASEAN

In 2021, overseas shipments of safety fuses, detonating fuses and electric detonators increased by 180% to X tons, rising for the third consecutive year after two years of decline. Overall, exports showed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fuse and detonator exports soared to $X in 2021. Over the period under review, exports enjoyed a modest expansion. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons) and Thailand (X tons) were the key exporters of safety fuses, detonating fuses and electric detonators in 2021, amounting to approx. 37% and 33% of total exports, respectively. Malaysia (X tons) ranks next in terms of the total exports with a 14% share, followed by Vietnam (11%). Lao People's Democratic Republic (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +199.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) emerged as the largest fuse and detonator supplier in ASEAN, comprising 65% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 15% share of total exports. It was followed by Malaysia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Thailand was relatively modest. In the other countries, the average annual rates were as follows: the Philippines (+199.5% per year) and Malaysia (+11.6% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, rising by 45% against the previous year. In general, the export price, however, continues to indicate a perceptible downturn. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 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, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($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 (+16.3%), while the other leaders experienced mixed trends in the export price figures.

Fuse And Detonator Imports

Imports in ASEAN

In 2021, supplies from abroad of safety fuses, detonating fuses and electric detonators decreased by -2.2% to X tons, falling for the third year in a row after three years of growth. Overall, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 20% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, fuse and detonator imports stood at $X in 2021. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 12% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X tons), distantly followed by the Philippines (X tons), Malaysia (X tons), Lao People's Democratic Republic (X tons) and Thailand (X tons) were the main importers of safety fuses, detonating fuses and electric detonators, together constituting 93% of total imports. Cambodia (X tons) and Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +42.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constitutes the largest market for imported safety fuses, detonating fuses and electric detonators in ASEAN, comprising 46% of total imports. The second position in the ranking was taken by Thailand ($X), with a 22% share of total imports. It was followed by Malaysia, with a 13% share.

In Indonesia, fuse and detonator imports declined by an average annual rate of -3.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+11.4% per year) and Malaysia (+6.7% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, surging by 6.9% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +10.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fuse and detonator import price increased by +57.4% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by 55%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while Lao People's Democratic Republic ($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 (+17.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform