Asia-Pacific: Market for Plastic Fittings for Tubes, Pipes and Hoses 2024

Market Size for Plastic Fittings for Tubes, Pipes and Hoses in Asia-Pacific

In 2021, after three years of growth, there was decline in the Asia-Pacific market for plastic fittings for tubes, pipes and hoses, when its value decreased by -0.4% to $X. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then shrank modestly in the following year.

Production of Plastic Fittings for Tubes, Pipes and Hoses in Asia-Pacific

In value terms, production of plastic fittings for tubes, pipes and hoses dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 11%. Over the period under review, production of reached the maximum level at $X in 2020, and then fell slightly in the following year.

Exports of Plastic Fittings for Tubes, Pipes and Hoses

Exports in Asia-Pacific

In 2021, the amount of plastic fittings for tubes, pipes and hoses exported in Asia-Pacific skyrocketed to X tons, rising by 23% on 2020. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.7% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of plastic fittings for tubes, pipes and hoses surged to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +91.5% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates hoses structure, accounting for X tons, which was approx. 75% of total exports in 2021. It was distantly followed by Japan (X tons), committing a 5.2% share of total exports. India (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), South Korea (X tons) and the Philippines (X tons) took a little share of total exports.

Exports from China increased at an average annual rate of +7.8% from 2012 to 2021. At the same time, the Philippines (+54.7%), Malaysia (+3.7%), South Korea (+3.0%) and Japan (+1.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +54.7% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, India (-1.4%) illustrated a downward trend over the same period. While the share of China (+11 p.p.) and the Philippines (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-1.7 p.p.), Japan (-2.8 p.p.) and India (-3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic fittings for tubes, pipes and hoses supplier in Asia-Pacific, comprising 53% of total exports. The second position in the ranking was taken by Japan ($X), with an 11% share of total exports. It was followed by South Korea, with a 5.8% share.

In China, exports of plastic fittings for tubes, pipes and hoses expanded at an average annual rate of +8.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+4.8% per year) and South Korea (+9.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, growing by 7.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2020 an increase of 9.9% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the Philippines ($X per ton), while China ($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 (+7.7%), while the other leaders experienced more modest paces of growth.

Imports of Plastic Fittings for Tubes, Pipes and Hoses

Imports in Asia-Pacific

In 2021, the amount of plastic fittings for tubes, pipes and hoses imported in Asia-Pacific soared to X tons, with an increase of 21% on 2020. The total import volume increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of plastic fittings for tubes, pipes and hoses skyrocketed to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +26.9% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of plastic fittings for tubes, pipes and hoses, namely Japan, Australia and South Korea, represented more than third of total import. The Philippines (X tons) held the next position in the ranking, followed by China (X tons), Hong Kong SAR (X tons) and Singapore (X tons). All these countries together took approx. 25% share of total imports. Thailand (X tons), Indonesia (X tons), India (X tons), New Zealand (X tons), Vietnam (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +13.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported plastic fittings for tubes, pipes and hoses in Asia-Pacific, comprising 30% of total imports. The second position in the ranking was held by Australia ($X), with a 9.7% share of total imports. It was followed by Japan, with a 9.2% share.

In China, imports of plastic fittings for tubes, pipes and hoses expanded at an average annual rate of +11.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+3.1% per year) and Japan (+2.2% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, rising by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. As a result, import 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 importing countries. In 2021, the country with the highest price was China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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