Asia: Hairpin Market 2024

Hairpin Market Size in Asia

The Asian hairpin market contracted to $X in 2021, falling by -6.5% against the previous year. The total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Hairpin Production in Asia

In value terms, hairpin production declined slightly to $X in 2021 estimated in export price. The total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.2% 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 +5.6% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 61%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Hairpin Exports

Exports in Asia

In 2021, approx. X tons of hairpins, curling pins, curling grips and hair-curlers were exported in Asia; with an increase of 19% against 2020 figures. Over the period under review, exports, however, saw a perceptible contraction. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hairpin exports surged to $X in 2021. The total export value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X tons, which was approx. 88% of total exports in 2021. The following exporters - South Korea (X tons), India (X tons), Hong Kong SAR (X tons) and Thailand (X tons) - together made up 9.2% of total exports.

China was also the fastest-growing in terms of the hairpins, curling pins, curling grips and hair-curlers exports, with a CAGR of -3.3% from 2012 to 2021. South Korea (-3.3%), India (-7.3%), Thailand (-13.2%) and Hong Kong SAR (-16.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +8 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hairpin supplier in Asia, comprising 80% of total exports. The second position in the ranking was held by South Korea ($X), with a 9% share of total exports. It was followed by Hong Kong SAR, with a 2.1% share.

In China, hairpin exports increased at an average annual rate of +5.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+0.3% per year) and Hong Kong SAR (-11.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 26% against the previous year. Export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hairpin export price increased by +104.3% against 2012 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+14.6%), while the other leaders experienced more modest paces of growth.

Hairpin Imports

Imports in Asia

In 2021, the amount of hairpins, curling pins, curling grips and hair-curlers imported in Asia soared to X tons, with an increase of 34% against the previous year. In general, imports, however, continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2018 when imports increased by 71%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, hairpin imports surged to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Philippines was the largest importer of hairpins, curling pins, curling grips and hair-curlers in Asia, with the volume of imports amounting to X tons, which was near 48% of total imports in 2021. Thailand (X tons) ranks second in terms of the total imports with a 9.6% share, followed by South Korea (7.4%) and Indonesia (4.8%). The following importers - India (X tons), Japan (X tons), Uzbekistan (X tons), Saudi Arabia (X tons), Vietnam (X tons), Pakistan (X tons) and the United Arab Emirates (X tons) - together made up 17% of total imports.

Imports into the Philippines increased at an average annual rate of +26.2% from 2012 to 2021. At the same time, Vietnam (+34.1%), Uzbekistan (+33.5%), South Korea (+20.7%), Indonesia (+8.0%), Pakistan (+4.8%) and Japan (+1.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of +34.1% from 2012-2021. By contrast, Thailand (-2.4%), the United Arab Emirates (-3.8%), India (-20.9%) and Saudi Arabia (-26.1%) illustrated a downward trend over the same period. The Philippines (+43 p.p.), South Korea (+6.3 p.p.), Uzbekistan (+2.9 p.p.), Indonesia (+2.8 p.p.) and Vietnam (+2 p.p.) significantly strengthened its position in terms of the total imports, while India and Saudi Arabia saw its share reduced by -18.7% and -26% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Japan ($X) and the Philippines ($X) were the countries with the highest levels of imports in 2021, together comprising 51% of total imports.

Among the main importing countries, the Philippines, with a CAGR of +37.7%, recorded the highest rates of growth with regard to 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 Asia amounted to $X per ton, declining by -7.3% against the previous year. Import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hairpin import price increased by +21.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by 60% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the Philippines ($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 (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform