Asia-Pacific: Accordion Market 2024

Accordion Market Size in Asia-Pacific

For the third consecutive year, the Asia-Pacific accordion market recorded decline in sales value, which decreased by -2.5% to $X in 2021. Overall, consumption continues to indicate a slight curtailment. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Accordion Production in Asia-Pacific

In value terms, accordion production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Accordion Exports

Exports in Asia-Pacific

In 2021, accordion exports in Asia-Pacific soared to X units, surging by 18% compared with 2020 figures. The total export volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, accordion exports rose notably to $X in 2021. In general, exports, however, showed a mild downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 7.9% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, China (X units) was the largest exporter of accordions and mouth organs, constituting 51% of total exports. Indonesia (X units) took the second position in the ranking, distantly followed by Japan (X units). All these countries together held approx. 41% share of total exports. The following exporters - Taiwan (Chinese) (X units) and South Korea (X units) - together made up 5.6% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +10.7%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, China ($X), Japan ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 91% share of total exports.

Among the main exporting countries, Japan, with a CAGR of +0.6%, saw the highest growth rate of 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-Pacific stood at $X per unit in 2021, waning by -10.4% against the previous year. Over the period under review, the export price saw a perceptible curtailment. The pace of growth appeared the most rapid in 2014 an increase of 15%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.7%), while the other leaders experienced more modest paces of growth.

Accordion Imports

Imports in Asia-Pacific

In 2021, purchases abroad of accordions and mouth organs decreased by -0.5% to X units, falling for the third year in a row after three years of growth. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 14%. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, accordion imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan was the main importing country with an import of around X units, which resulted at 52% of total imports. South Korea (X units) took the second position in the ranking, followed by China (X units), Hong Kong SAR (X units) and Malaysia (X units). All these countries together took near 35% share of total imports. The following importers - Australia (X units) and Taiwan (Chinese) (X units) - each reached an 8.4% share of total imports.

Imports into Japan decreased at an average annual rate of -1.1% from 2012 to 2021. At the same time, China (+12.4%) and Hong Kong SAR (+4.6%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +12.4% from 2012-2021. By contrast, Taiwan (Chinese) (-3.9%), Malaysia (-5.2%), South Korea (-7.6%) and Australia (-8.9%) illustrated a downward trend over the same period. While the share of Japan (+18 p.p.), China (+9.7 p.p.) and Hong Kong SAR (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Australia (-1.6 p.p.) and South Korea (-2.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), South Korea ($X) and China ($X) were the countries with the highest levels of imports in 2021, together accounting for 71% of total imports.

Among the main importing countries, China, with a CAGR of +17.9%, 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

The import price in Asia-Pacific stood at $X per unit in 2021, growing by 21% against the previous year. Import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, accordion import price increased by +62.5% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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