Asia-Pacific: 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-Pacific

The Asia-Pacific market for articles of goldsmiths’ wares of base metal clad with precious metal stood at $X in 2022, almost unchanged from the previous year. Overall, consumption enjoyed a prominent increase. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

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

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal stood at $X in 2022 estimated in export price. Over the period under review, production enjoyed resilient growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 24%. The level of production peaked 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-Pacific

In 2022, approx. X tons of articles of goldsmiths’ wares of base metal clad with precious metal were exported in Asia-Pacific; dropping by -18.2% compared with the previous year. In general, exports saw a slight slump. The pace of growth was the most pronounced in 2021 with an increase of 130% against the previous year. 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, exports of articles of goldsmiths’ wares of base metal clad with precious metal contracted significantly to $X in 2022. Over the period under review, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 139%. As a result, the exports reached the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Malaysia represented the largest exporter of articles of goldsmiths’ wares of base metal clad with precious metal in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. 55% of total exports in 2022. Australia (X tons) took the second position in the ranking, followed by India (X tons) and Singapore (X tons). All these countries together took approx. 28% share of total exports. Hong Kong SAR (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) followed a long way behind the leaders.

Exports from Malaysia increased at an average annual rate of +11.1% from 2012 to 2022. At the same time, India (+42.8%), Singapore (+12.0%) and Australia (+1.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +42.8% from 2012-2022. By contrast, South Korea (-3.6%), Taiwan (Chinese) (-12.2%) and Hong Kong SAR (-21.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia, India, Singapore and Australia increased by +38, +9.7, +4.6 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest precious metal-clad goldsmiths ware articles of base metals supplier in Asia-Pacific, comprising 88% of total exports. The second position in the ranking was taken by Australia ($X), with a 2% share of total exports. It was followed by Taiwan (Chinese), with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia totaled +34.7%. In the other countries, the average annual rates were as follows: Australia (+17.4% per year) and Taiwan (Chinese) (-5.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, waning by -8.9% against the previous year. In general, the export price, however, showed a significant expansion. The pace of growth appeared the most rapid in 2019 an increase of 112%. The level of export peaked at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+21.2%), 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-Pacific

In 2022, supplies from abroad of articles of goldsmiths’ wares of base metal clad with precious metal increased by 59% to X tons, rising for the second consecutive year after six years of decline. Over the period under review, imports, however, showed a pronounced reduction. Over the period under review, imports of reached the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal dropped significantly to $X in 2022. In general, imports, however, saw a deep slump. The growth pace was the most rapid in 2021 when imports increased by 96%. Over the period under review, imports of reached the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Brunei Darussalam represented the main importing country with an import of around X tons, which finished at 44% of total imports. It was distantly followed by Singapore (X tons), India (X tons), Australia (X tons) and Malaysia (X tons), together generating a 42% share of total imports. The following importers - Myanmar (X tons) and Taiwan (Chinese) (X tons) - together made up 7.4% of total imports.

From 2012 to 2022, average annual rates of growth with regard to precious metal-clad goldsmiths ware articles of base metals imports into Brunei Darussalam stood at +55.1%. At the same time, Myanmar (+127.1%), India (+46.2%), Taiwan (Chinese) (+25.5%) and Malaysia (+13.7%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +127.1% from 2012-2022. By contrast, Australia (-13.6%) and Singapore (-15.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brunei Darussalam, India, Myanmar, Malaysia and Taiwan (Chinese) increased by +44, +13, +4.5, +3.8 and +2.7 percentage points, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported articles of goldsmiths’ wares of base metal clad with precious metal in Asia-Pacific, comprising 41% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 12% share of total imports. It was followed by Australia, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia amounted to +25.6%. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+37.0% per year) and Australia (+0.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, which is down by -57.9% against the previous year. In general, the import price recorded a perceptible decline. The most prominent rate of growth was recorded in 2020 when the import price increased by 28%. Over the period under review, import prices attained the maximum at $X per ton in 2021, and then dropped sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+16.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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