Asia: Market for Iron Or Steel Liquid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Liquid Fuel Domestic Appliances in Asia

In 2022, the Asian metal liquid fuel appliances market decreased by -2% to $X, falling for the fifth year in a row after two years of growth. Over the period under review, consumption saw a perceptible downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Iron Or Steel Liquid Fuel Domestic Appliances in Asia

In value terms, metal liquid fuel appliances production fell modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by 6.5%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Iron Or Steel Liquid Fuel Domestic Appliances

Exports in Asia

In 2022, overseas shipments of iron or steel liquid fuel domestic appliances increased by 42% to X units, rising for the second year in a row after seven years of decline. In general, exports posted a mild increase. The pace of growth was the most pronounced in 2021 with an increase of 70%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, metal liquid fuel appliances exports soared to $X in 2022. Total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 60%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

China (X units), Japan (X units) and South Korea (X units) represented roughly 93% of total exports in 2022. Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +14.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest metal liquid fuel appliances supplying countries in Asia were Japan ($X), South Korea ($X) and China ($X), together comprising 95% of total exports.

In terms of the main exporting countries, South Korea, with a CAGR of +8.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, waning by -10.4% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 31%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.4%), while the other leaders experienced a decline in the export price figures.

Imports of Iron Or Steel Liquid Fuel Domestic Appliances

Imports in Asia

In 2022, imports of iron or steel liquid fuel domestic appliances in Asia dropped dramatically to X units, which is down by -15.8% on the previous year's figure. In general, imports continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2021 with an increase of 164%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal liquid fuel appliances imports dropped sharply to $X in 2022. Over the period under review, imports saw a pronounced slump. The pace of growth appeared the most rapid in 2021 with an increase of 67%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

South Korea (X units) and Taiwan (Chinese) (X units) were the major importers of iron or steel liquid fuel domestic appliances in 2022, recording near 29% and 24% of total imports, respectively. Iraq (X units) held the next position in the ranking, followed by Japan (X units), China (X units) and Pakistan (X units). All these countries together held near 36% share of total imports. Thailand (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +47.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Iraq ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, with a combined 79% share of total imports. China, Taiwan (Chinese), Thailand and Pakistan lagged somewhat behind, together comprising a further 9.2%.

In terms of the main importing countries, China, with a CAGR of +31.0%, 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 2022, the import price in Asia amounted to $X per unit, therefore, remained relatively stable against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by 66%. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat 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 Iraq ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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