Asia-Pacific: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in Asia-Pacific

In 2022, the Asia-Pacific optical radiation instruments market decreased by -10.1% to $X, falling for the second consecutive year after four years of growth. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.6% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Optical Radiation Instruments Production in Asia-Pacific

In value terms, optical radiation instruments production rose to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 22%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Optical Radiation Instruments Exports

Exports in Asia-Pacific

Optical radiation instruments exports skyrocketed to X units in 2022, growing by 22% compared with the previous year. In general, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, optical radiation instruments exports surged to $X in 2022. Over the period under review, exports saw a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units) and Japan (X units) represented the main exporters of instruments using optical radiations in 2022, recording near 44% and 30% of total exports, respectively. Singapore (X units) held the next position in the ranking, distantly followed by Hong Kong SAR (X units). All these countries together took near 21% share of total exports. South Korea (X units) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +43.1%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest optical radiation instruments supplier in Asia-Pacific, comprising 50% of total exports. The second position in the ranking was taken by Japan ($X), with a 19% share of total exports. It was followed by China, with a 16% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to +19.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+5.6% per year) and China (+24.1% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, increasing by 5.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 10%. Over the period under review, the export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.5%), while the other leaders experienced a decline in the export price figures.

Optical Radiation Instruments Imports

Imports in Asia-Pacific

In 2022, optical radiation instruments imports in Asia-Pacific was estimated at X units, surging by 4.5% against the previous year. Over the period under review, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 19%. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, optical radiation instruments imports rose remarkably to $X in 2022. Overall, imports posted resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 17%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

China represented the main importer of instruments using optical radiations in Asia-Pacific, with the volume of imports finishing at X units, which was approx. 41% of total imports in 2022. South Korea (X units) held the second position in the ranking, followed by Singapore (X units), Taiwan (Chinese) (X units), India (X units) and Japan (X units). All these countries together took near 39% share of total imports. The following importers - Hong Kong SAR (X units), Thailand (X units), Indonesia (X units), Australia (X units) and Vietnam (X units) - together made up 17% of total imports.

Imports into China increased at an average annual rate of +5.4% from 2012 to 2022. At the same time, Vietnam (+21.6%), Thailand (+18.5%), Singapore (+16.8%), Taiwan (Chinese) (+15.6%), India (+12.9%), Indonesia (+12.1%), South Korea (+10.8%), Australia (+7.5%), Hong Kong SAR (+4.2%) and Japan (+1.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +21.6% from 2012-2022. While the share of Singapore (+5 p.p.), Taiwan (Chinese) (+3.1 p.p.), South Korea (+2.9 p.p.), Thailand (+2.2 p.p.), India (+2 p.p.) and Vietnam (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-1.8 p.p.), Japan (-5 p.p.) and China (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported instruments using optical radiations in Asia-Pacific, comprising 48% of total imports. The second position in the ranking was held by South Korea ($X), with a 10% share of total imports. It was followed by Singapore, with a 10% share.

In China, optical radiation instruments imports expanded at an average annual rate of +9.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+8.8% per year) and Singapore (+20.8% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, increasing by 2% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 an increase of 12%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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 China ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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