Asia: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in Asia

The Asian market for plastic hoses and hose fittings expanded slightly to $X in 2021, growing by 3.8% against the previous year. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. 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. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Plastic Hoses and Hose Fittings in Asia

In value terms, plastic hose and hose fitting production expanded markedly 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 +4.6% 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 -4.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Plastic Hoses and Hose Fittings

Exports in Asia

In 2021, overseas shipments of plastic hoses and hose fittings increased by 23% to X tons, rising for the fifth consecutive year after two years of decline. The total export volume increased at an average annual rate of +5.0% 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.

In value terms, plastic hose and hose fitting exports skyrocketed to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 +67.7% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the main exporter of plastic hoses and hose fittings in Asia, with the volume of exports resulting at X tons, which was near 59% of total exports in 2021. Turkey (X tons) ranks second in terms of the total exports with a 13% share, followed by South Korea (4.6%) and Taiwan (Chinese) (4.5%). The following exporters - Saudi Arabia (X tons), Malaysia (X tons), the United Arab Emirates (X tons) and India (X tons) - together made up 10% of total exports.

China was also the fastest-growing in terms of the plastic hoses and hose fittings exports, with a CAGR of +8.6% from 2012 to 2021. At the same time, Taiwan (Chinese) (+7.0%), Malaysia (+6.2%), the United Arab Emirates (+4.3%), Turkey (+3.2%), India (+2.3%) and South Korea (+1.6%) displayed positive paces of growth. By contrast, Saudi Arabia (-6.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +15 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic hose and hose fitting supplier in Asia, comprising 54% of total exports. The second position in the ranking was taken by Turkey ($X), with a 6.8% share of total exports. It was followed by South Korea, with a 5.3% share.

In China, plastic hose and hose fitting exports expanded at an average annual rate of +9.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+3.7% per year) and South Korea (+3.6% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 4.8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2016 an increase of 7.2%. Over the period under review, the export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while Saudi Arabia ($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

In 2021, supplies from abroad of plastic hoses and hose fittings increased by 7.9% to X tons, rising for the third year in a row after three years of decline. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic hose and hose fitting imports surged to $X in 2021. The total import value increased at an average annual rate of +5.2% over the period from 2012 to 2021; 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

China (X tons), Iraq (X tons), Thailand (X tons), Vietnam (X tons), Singapore (X tons), Yemen (X tons), Indonesia (X tons), Japan (X tons), Turkey (X tons), the United Arab Emirates (X tons), Kazakhstan (X tons) and the Philippines (X tons) represented roughly 66% of total imports in 2021. India (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +14.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported plastic hoses and hose fittings in Asia, comprising 28% of total imports. The second position in the ranking was held by Japan ($X), with a 7.7% share of total imports. It was followed by Vietnam, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +7.3%. In the other countries, the average annual rates were as follows: Japan (+3.1% per year) and Vietnam (+12.6% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, growing by 12% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. As a result, import price reached 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 ($X per ton), while Yemen ($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 United Arab Emirates (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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