ASEAN: Pyrotechnic Articles Market 2024

Pyrotechnic Articles Market Size in ASEAN

The ASEAN pyrotechnic articles market totaled $X in 2021, increasing by 6.1% against the previous year. Over the period under review, consumption continues to indicate a deep slump. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Pyrotechnic Articles Production in ASEAN

In value terms, pyrotechnic articles production expanded to $X in 2021 estimated in export price. In general, production, however, saw a perceptible descent. The pace of growth appeared the most rapid in 2019 when the production volume increased by 100%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Pyrotechnic Articles Exports

Exports in ASEAN

In 2021, the amount of signalling flares, rain rockets, fog signals and other pyrotechnic articles exported in ASEAN contracted remarkably to X tons, shrinking by -30.6% against the previous year. Overall, exports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2020 with an increase of 62%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, pyrotechnic articles exports declined dramatically to $X in 2021. Over the period under review, exports, however, enjoyed resilient growth. The growth pace was the most rapid in 2015 when exports increased by 113%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X tons) was the key exporter of signalling flares, rain rockets, fog signals and other pyrotechnic articles, creating 76% of total exports. It was distantly followed by Singapore (X tons), constituting a 20% share of total exports. Indonesia (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to pyrotechnic articles exports from Thailand stood at -2.0%. At the same time, Singapore (+6.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +6.6% from 2012-2021. By contrast, Indonesia (-7.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore increased by +11 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest pyrotechnic articles supplier in ASEAN, comprising 78% of total exports. The second position in the ranking was held by Thailand ($X), with a 19% share of total exports.

In Singapore, pyrotechnic articles exports increased at an average annual rate of +12.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+4.6% per year) and Indonesia (-6.8% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, waning by -51.2% against the previous year. In general, the export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2016 an increase of 122% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Thailand (+6.7%), while the other leaders experienced more modest paces of growth.

Pyrotechnic Articles Imports

Imports in ASEAN

For the third year in a row, ASEAN recorded decline in purchases abroad of signalling flares, rain rockets, fog signals and other pyrotechnic articles, which decreased by -78.8% to X tons in 2021. Overall, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2018 when imports increased by 88% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, pyrotechnic articles imports declined modestly to $X in 2021. Over the period under review, imports saw a perceptible curtailment. The pace of growth was the most pronounced in 2013 when imports increased by 60% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Singapore represented the key importing country with an import of about X tons, which resulted at 54% of total imports. Malaysia (X tons) took the second position in the ranking, followed by Thailand (X tons). All these countries together took approx. 38% share of total imports. The following importers - Vietnam (X tons), Cambodia (X tons) and Indonesia (X tons) - each amounted to a 5.8% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to pyrotechnic articles imports into Singapore stood at -9.7%. At the same time, Cambodia (+21.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +21.2% from 2012-2021. By contrast, Malaysia (-3.2%), Vietnam (-4.8%), Indonesia (-6.2%) and Thailand (-32.0%) illustrated a downward trend over the same period. While the share of Singapore (+36 p.p.), Malaysia (+17 p.p.), Cambodia (+2 p.p.) and Vietnam (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-58.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported signalling flares, rain rockets, fog signals and other pyrotechnic articles in ASEAN, comprising 56% of total imports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total imports. It was followed by Malaysia, with a 12% share.

In Singapore, pyrotechnic articles imports declined by an average annual rate of -3.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (-2.2% per year) and Malaysia (-12.5% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, picking up by 370% against the previous year. Overall, the import price continues to indicate resilient growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+43.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform