ASEAN: Thermoforming Machine Market 2025

Thermoforming Machine Market Size in ASEAN

In 2021, the ASEAN thermoforming machine market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Thermoforming Machine Production in ASEAN

In value terms, thermoforming machine production dropped remarkably to $X in 2021 estimated in export price. In general, production, however, recorded significant growth. The growth pace was the most rapid in 2020 when the production volume increased by 41,644% against the previous year. As a result, production attained the peak level of $X, and then reduced rapidly in the following year.

Thermoforming Machine Exports

Exports in ASEAN

In 2021, approx. X units of thermoforming machines for working rubber or plastics were exported in ASEAN; waning by -97.8% on the year before. Overall, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2020 when exports increased by 10,665% against the previous year. As a result, the exports reached the peak of X units, and then contracted markedly in the following year.

In value terms, thermoforming machine exports surged to $X in 2021. In general, exports continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2018 when exports increased by 70%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore was the major exporting country with an export of about X units, which recorded 62% of total exports. Thailand (X units) took the second position in the ranking, distantly followed by the Philippines (X units) and Indonesia (X units). All these countries together took approx. 30% share of total exports. Vietnam (X units) and Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to thermoforming machine exports from Singapore stood at -6.7%. At the same time, the Philippines (+29.2%), Vietnam (+27.7%) and Indonesia (+9.7%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +29.2% from 2012-2021. Thailand experienced a relatively flat trend pattern. By contrast, Malaysia (-20.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand, the Philippines, Indonesia and Vietnam increased by +7.2, +6.8, +3.5 and +3.5 percentage points, respectively.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2021, together accounting for 90% of total exports. Indonesia, the Philippines and Vietnam lagged somewhat behind, together comprising a further 8.7%.

Vietnam, with a CAGR of +45.4%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, surging by 5,890% against the previous year. Over the period under review, the export price posted perceptible growth. The level of export peaked at $X per unit 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 Malaysia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+20.8%), while the other leaders experienced more modest paces of growth.

Thermoforming Machine Imports

Imports in ASEAN

In 2021, purchases abroad of thermoforming machines for working rubber or plastics was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, recorded a perceptible downturn. The growth pace was the most rapid in 2018 when imports increased by 123%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, thermoforming machine imports fell to $X in 2021. Over the period under review, imports, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2018 with an increase of 70% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of thermoforming machine imports in 2021 were Malaysia (X units), Thailand (X units), Vietnam (X units) and Indonesia (X units), together recording 84% of total import. It was distantly followed by the Philippines (X units), mixing up a 10% share of total imports. Singapore (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +21.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 79% of total imports. These countries were followed by Malaysia, the Philippines and Singapore, which together accounted for a further 20%.

In terms of the main importing countries, Malaysia, with a CAGR of +11.3%, 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

The import price in ASEAN stood at $X per unit in 2021, with a decrease of -19.4% against the previous year. Overall, the import price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2013 when the import price increased by 13% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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 Vietnam ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform