ASEAN: Iron Household Articles Market 2024

Iron Household Articles Market Size in ASEAN

The ASEAN iron household articles market skyrocketed to $X in 2021, growing by 21% against the previous year. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.7% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Iron Household Articles Production in ASEAN

In value terms, iron household articles production rose markedly to $X in 2021 estimated in export price. In general, production saw a temperate increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 58% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Iron Household Articles Exports

Exports in ASEAN

In 2021, iron household articles exports in ASEAN shrank remarkably to X tons, dropping by -26.9% compared with the previous year's figure. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 28% against the previous year. As a result, the exports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, iron household articles exports fell dramatically to $X in 2021. In general, exports, however, recorded a modest expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 45% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the five major exporters of table, kitchen or household articles and parts of iron, namely Thailand, Malaysia, Cambodia, Indonesia and Vietnam, represented more than two-thirds of total export. It was distantly followed by Singapore (X tons), constituting a 5.5% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +25.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest iron household articles supplying countries in ASEAN were Malaysia ($X), Cambodia ($X) and Vietnam ($X), together accounting for 62% of total exports.

Among the main exporting countries, Cambodia, with a CAGR of +34.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, declining by -4.2% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 74% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 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, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+16.5%), while the other leaders experienced more modest paces of growth.

Iron Household Articles Imports

Imports in ASEAN

In 2021, imports of table, kitchen or household articles and parts of iron in ASEAN soared to X tons, with an increase of 26% on the previous year's figure. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +29.5% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 75%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, iron household articles imports surged to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 170% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X tons), Malaysia (X tons) and Indonesia (X tons) represented roughly 71% of total imports in 2021. Singapore (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (8.7%) and Vietnam (4.6%). Myanmar (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +28.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, together accounting for 61% of total imports. These countries were followed by the Philippines, Indonesia, Vietnam and Myanmar, which together accounted for a further 37%.

Vietnam, with a CAGR of +23.0%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 2021, shrinking by -2.9% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 55% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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 the Philippines ($X per ton), while Myanmar ($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 (+14.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform