ASEAN: Silencer Market 2024

Silencer Market Size in ASEAN

In 2021, the ASEAN silencer market decreased by -15.4% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +66.9% against 2016 indices. As a result, consumption attained the peak level of $X, and then fell dramatically in the following year.

Silencer Production in ASEAN

In value terms, silencer production fell dramatically to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.3% 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 +77.2% against 2016 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 51% against the previous year. As a result, production attained the peak level of $X, and then declined significantly in the following year.

Silencer Exports

Exports in ASEAN

Silencer exports soared to X tons in 2021, picking up by 18% compared with 2020 figures. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +41.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 19% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, silencer exports rose sharply to $X in 2021. Total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.0% against 2016 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 22%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, Thailand (X tons) represented the largest exporter of silencers and exhaust pipes, mixing up 63% of total exports. Vietnam (X tons) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (4.9%). Malaysia (X tons) and the Philippines (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +6.6% from 2012 to 2021. At the same time, Vietnam (+28.3%) and Indonesia (+10.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +28.3% from 2012-2021. By contrast, Malaysia (-2.4%) and the Philippines (-6.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam increased by +19 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest silencer supplier in ASEAN, comprising 64% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 19% share of total exports. It was followed by Indonesia, with an 8.3% share.

In Thailand, silencer exports increased at an average annual rate of +1.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+25.0% per year) and Indonesia (+19.9% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, declining by -9.3% against the previous year. Over the period under review, the export price continues to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2019 when the export price increased by 13%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+15.7%), while the other leaders experienced more modest paces of growth.

Silencer Imports

Imports in ASEAN

In 2021, purchases abroad of silencers and exhaust pipes was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, silencer imports surged to $X in 2021. Total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 34%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

Thailand (X tons), Vietnam (X tons), Indonesia (X tons) and Malaysia (X tons) represented roughly 94% of total imports in 2021. The following importers - Singapore (X tons) and the Philippines (X tons) - together made up 4.5% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +22.2%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest silencer importing markets in ASEAN were Thailand ($X), Malaysia ($X) and Vietnam ($X), with a combined 81% share of total imports. Indonesia, Singapore and the Philippines lagged somewhat behind, together comprising a further 19%.

In terms of the main importing countries, the Philippines, with a CAGR of +28.0%, 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, shrinking by -2.8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2018 when the import price increased by 19% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020, and then reduced in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+35.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform