Asia-Pacific: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in Asia-Pacific

The Asia-Pacific market for plastic hoses and hose fittings reached $X in 2021, increasing by 4.7% against the previous year. The total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.2% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Plastic Hoses and Hose Fittings in Asia-Pacific

In value terms, plastic hose and hose fitting production reached $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.9% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 19% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Plastic Hoses and Hose Fittings

Exports in Asia-Pacific

In 2021, the amount of plastic hoses and hose fittings exported in Asia-Pacific rose significantly to X tons, with an increase of 15% against the year before. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.0% 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 +65.6% against 2016 indices. The growth pace was the most rapid in 2017 when exports increased by 25% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, plastic hose and hose fitting exports skyrocketed to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 +58.0% against 2014 indices. 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, resulting at X tons, which was approx. 75% of total exports in 2021. South Korea (X tons) took a 5.8% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (5.8%). Malaysia (X tons), India (X tons), Japan (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to plastic hose and hose fitting exports from China stood at +8.6%. At the same time, Vietnam (+23.2%), Taiwan (Chinese) (+7.0%), Malaysia (+6.2%), India (+2.3%) and South Korea (+1.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +23.2% from 2012-2021. Japan experienced a relatively flat trend pattern. China (+9.5 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -2.1% and -3.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic hose and hose fitting supplier in Asia-Pacific, comprising 61% of total exports. The second position in the ranking was taken by Japan ($X), with a 14% share of total exports. It was followed by South Korea, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +9.8%. In the other countries, the average annual rates were as follows: Japan (+1.6% per year) and South Korea (+3.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, surging by 8.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 9%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while China ($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 (+8.9%), while the other leaders experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports in Asia-Pacific

In 2021, overseas purchases of plastic hoses and hose fittings increased by 11% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 12% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, plastic hose and hose fitting imports soared to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.5% 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 +60.1% against 2015 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 twelve major importers of plastic hoses and hose fittings, namely China, Thailand, Vietnam, Australia, Singapore, Indonesia, Japan, the Philippines, India, Myanmar, South Korea and New Zealand, represented more than two-thirds of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +14.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported plastic hoses and hose fittings in Asia-Pacific, comprising 32% of total imports. The second position in the ranking was taken by Australia ($X), with a 9% share of total imports. It was followed by Japan, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +7.3%. In the other countries, the average annual rates were as follows: Australia (+5.4% per year) and Japan (+3.1% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, surging by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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