Asia: Thermoforming Machine Market 2024

Thermoforming Machine Market Size in Asia

After two years of decline, the Asian thermoforming machine market increased by 34% to $X in 2021. The total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Thermoforming Machine Production in Asia

In value terms, thermoforming machine production reduced notably to $X in 2021 estimated in export price. Over the period under review, production, however, posted a strong expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 41% against the previous year. As a result, production attained the peak level of $X, and then declined notably in the following year.

Thermoforming Machine Exports

Exports in Asia

In 2021, approx. X units of thermoforming machines for working rubber or plastics were exported in Asia; dropping by -51.9% on 2020 figures. In general, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 245%. As a result, the exports attained the peak of X units, and then shrank notably in the following year.

In value terms, thermoforming machine exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. 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, finishing at X units, which was approx. 85% of total exports in 2021. Taiwan (Chinese) (X units), South Korea (X units), Singapore (X units) and Japan (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the thermoforming machines for working rubber or plastics exports, with a CAGR of +13.8% from 2012 to 2021. Japan experienced a relatively flat trend pattern. Taiwan (Chinese) (-5.9%), Singapore (-6.7%) and South Korea (-8.5%) illustrated a downward trend over the same period. While the share of China (+33 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-2.1 p.p.), Singapore (-5.2 p.p.), Taiwan (Chinese) (-9.8 p.p.) and South Korea (-13.3 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest thermoforming machine supplier in Asia, comprising 53% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 23% share of total exports. It was followed by South Korea, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +8.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+4.0% per year) and South Korea (-7.5% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, rising by 171% against the previous year. In general, the export price, however, continues to indicate a abrupt setback. Over the period under review, the export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+19.1%), while the other leaders experienced more modest paces of growth.

Thermoforming Machine Imports

Imports in Asia

In 2021, overseas purchases of thermoforming machines for working rubber or plastics increased by 19% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 67% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, thermoforming machine imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 26%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

Malaysia (X units), Thailand (X units), Vietnam (X units), Indonesia (X units), Japan (X units), the Philippines (X units), Taiwan (Chinese) (X units), China (X units), the United Arab Emirates (X units) and South Korea (X units) represented roughly 84% of total imports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +21.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported thermoforming machines for working rubber or plastics in Asia, comprising 63% of total imports. The second position in the ranking was held by Vietnam ($X), with a 5.7% share of total imports. It was followed by Thailand, with a 5.2% share.

In China, thermoforming machine imports expanded at an average annual rate of +9.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+9.5% per year) and Thailand (-5.5% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, remaining relatively unchanged against the previous year. Import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, thermoforming machine import price increased by +40.9% against 2018 indices. The most prominent rate of growth was recorded in 2017 an increase of 38% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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