Asia: Bumper Market 2024

Bumper Market Size in Asia

The Asian bumper market reached $X in 2022, stabilizing at the previous year. Over the period under review, consumption showed a slight curtailment. The most prominent rate of growth was recorded in 2016 when the market value increased by 7.5%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Bumper Production in Asia

In value terms, bumper production reached $X in 2022 estimated in export price. Overall, production saw a slight curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 7.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Bumper Exports

Exports in Asia

In 2022, the amount of bumpers exported in Asia reduced modestly to X tons, flattening at the previous year. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 24%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, bumper exports rose slightly to $X in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 30%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, China (X tons) was the main exporter of bumpers, comprising 38% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), Thailand (X tons), India (X tons), Japan (X tons), Turkey (X tons) and South Korea (X tons), together generating a 53% share of total exports.

Exports from China increased at an average annual rate of +5.9% from 2012 to 2022. At the same time, Thailand (+8.0%) and Turkey (+7.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +8.0% from 2012-2022. By contrast, Taiwan (Chinese) (-1.6%), South Korea (-2.3%), Japan (-3.3%) and India (-6.7%) illustrated a downward trend over the same period. While the share of China (+16 p.p.), Thailand (+6.1 p.p.) and Turkey (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-2.7 p.p.), Japan (-3.3 p.p.) and India (-9.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2022, together comprising 64% of total exports.

Among the main exporting countries, China, with a CAGR of +9.6%, saw the highest rates of growth with regard to 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

In 2022, the export price in Asia amounted to $X per ton, increasing by 2.8% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 5.4% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the other leaders experienced more modest paces of growth.

Bumper Imports

Imports in Asia

In 2022, the amount of bumpers imported in Asia dropped to X tons, with a decrease of -8.4% on the previous year's figure. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 16%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, bumper imports declined to $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 29% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

The purchases of the twelve major importers of bumpers, namely China, the United Arab Emirates, Japan, Turkey, Thailand, Malaysia, South Korea, Myanmar, Indonesia, Singapore, Vietnam and India, represented more than two-thirds of total import. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +46.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported bumpers in Asia, comprising 28% of total imports. The second position in the ranking was held by South Korea ($X), with a 9% share of total imports. It was followed by Japan, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +4.9%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+11.5% per year) and Japan (+5.3% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, picking up by 1.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2021 an increase of 11% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 China ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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