Asia-Pacific: Hairpin Market 2024

Hairpin Market Size in Asia-Pacific

The Asia-Pacific hairpin market fell modestly to $X in 2021, which is down by -4% against the previous year. Overall, consumption posted a resilient expansion. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Hairpin Production in Asia-Pacific

In value terms, hairpin production fell modestly to $X in 2021 estimated in export price. The total production indicated a measured increase 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 most prominent rate of growth was recorded in 2016 when the production volume increased by 61%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Hairpin Exports

Exports in Asia-Pacific

Hairpin exports soared to X tons in 2021, growing by 19% compared with the previous year's figure. Over the period under review, exports, however, saw a noticeable downturn. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

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 throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, recording X tons, which was approx. 89% of total exports in 2021. South Korea (X tons), India (X tons), Hong Kong SAR (X tons) and Thailand (X tons) held a minor share 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. China (+7.9 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Hong Kong SAR saw its share reduced by -2.3% and -4.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hairpin supplier in Asia-Pacific, comprising 80% of total exports. The second position in the ranking was taken by South Korea ($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. The remaining exporting countries recorded the following average annual rates of exports growth: 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-Pacific amounted to $X per ton, picking up by 26% against the previous year. Export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +8.3% over the last nine years. 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-Pacific

In 2021, the amount of hairpins, curling pins, curling grips and hair-curlers imported in Asia-Pacific surged to X tons, jumping by 48% on 2020 figures. Total imports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.2% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 111% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, hairpin imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Philippines (X tons) represented the key importer of hairpins, curling pins, curling grips and hair-curlers, constituting 54% of total imports. Thailand (X tons) took the second position in the ranking, followed by South Korea (X tons) and Indonesia (X tons). All these countries together held approx. 24% share of total imports. The following importers - India (X tons), Japan (X tons), Vietnam (X tons), Pakistan (X tons), Australia (X tons), Malaysia (X tons) and Sri Lanka (X tons) - together made up 16% of total imports.

From 2012 to 2021, average annual rates of growth with regard to hairpin imports into the Philippines stood at +26.2%. At the same time, Vietnam (+34.1%), South Korea (+20.7%), Indonesia (+8.0%), Pakistan (+4.8%), Sri Lanka (+2.1%) and Japan (+1.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +34.1% from 2012-2021. By contrast, Australia (-1.4%), Malaysia (-1.8%), Thailand (-2.4%) and India (-20.9%) illustrated a downward trend over the same period. While the share of the Philippines (+46 p.p.), South Korea (+6.6 p.p.), Indonesia (+2.3 p.p.) and Vietnam (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-4.4 p.p.) and India (-30.6 p.p.) displayed negative dynamics. 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) appeared to be the countries with the highest levels of imports in 2021, with a combined 57% share of total imports.

Among the main importing countries, the Philippines, with a CAGR of +37.7%, saw the highest growth rate of 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-Pacific amounted to $X per ton, dropping by -9% against the previous year. Over the period under review, the import price, however, showed moderate growth. The growth pace was the most rapid in 2017 an increase of 92% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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

Frequently Asked Questions (FAQ) :