Asia: Market for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal 2024

Market Size for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Asia

The Asian market for articles of goldsmiths’ wares of base metal clad with precious metal totaled $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption recorded a resilient expansion. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the near future.

Production of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Asia

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal reached $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 24%. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Exports in Asia

After two years of growth, overseas shipments of articles of goldsmiths’ wares of base metal clad with precious metal decreased by -72% to X tons in 2022. Overall, exports showed a pronounced decrease. The growth pace was the most rapid in 2021 with an increase of 84% against the previous year. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, exports of articles of goldsmiths’ wares of base metal clad with precious metal fell dramatically to $X in 2022. In general, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 136% against the previous year. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Malaysia (X tons) and Lebanon (X tons) represented the main exporters of articles of goldsmiths’ wares of base metal clad with precious metal in 2022, accounting for approx. 31% and 24% of total exports, respectively. The United Arab Emirates (X tons) ranks next in terms of the total exports with a 14% share, followed by Turkey (7.6%) and India (5.7%). Singapore (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +42.8%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the largest precious metal-clad goldsmiths ware articles of base metals supplier in Asia, comprising 85% of total exports. The second position in the ranking was held by Lebanon ($X), with a 1.9% share of total exports. It was followed by the United Arab Emirates, with a 1.5% share.

In Malaysia, exports of articles of goldsmiths’ wares of base metal clad with precious metal expanded at an average annual rate of +34.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Lebanon (-3.9% per year) and the United Arab Emirates (+10.7% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, jumping by 86% against the previous year. In general, the export price recorded a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+23.7%), while the other leaders experienced more modest paces of growth.

Imports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Imports in Asia

In 2022, the amount of articles of goldsmiths’ wares of base metal clad with precious metal imported in Asia expanded markedly to X tons, with an increase of 14% compared with 2021 figures. In general, imports posted modest growth. The most prominent rate of growth was recorded in 2019 with an increase of 166%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal contracted markedly to $X in 2022. Over the period under review, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 94% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Tajikistan (X tons) and Brunei Darussalam (X tons) represented the major importers of articles of goldsmiths’ wares of base metal clad with precious metal in Asia, together mixing up 49% of total imports. The United Arab Emirates (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (7.4%), India (6.9%) and Turkey (5.2%). Qatar (X tons), Malaysia (X tons), Myanmar (X tons), Kazakhstan (X tons), Taiwan (Chinese) (X tons) and Cyprus (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +127.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the United Arab Emirates ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of imports in 2022, with a combined 53% share of total imports. India, Qatar, Turkey, Singapore, Kazakhstan, Brunei Darussalam, Cyprus, Tajikistan and Myanmar lagged somewhat behind, together accounting for a further 23%.

Myanmar, with a CAGR of +65.1%, 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

In 2022, the import price in Asia amounted to $X per ton, reducing by -36% against the previous year. Overall, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when the import price increased by 217%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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