China: Braces And Garters Market 2024

Braces And Garters Market Size in China

In 2022, the Chinese braces and garters market decreased by -40.7% to $X, falling for the second consecutive year after five years of growth. Over the period under review, consumption recorded a perceptible shrinkage. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Braces And Garters Production in China

In value terms, braces and garters production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 23%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Braces And Garters Exports

Exports from China

In 2022, exports of braces, suspenders and garters from China surged to X units, jumping by 81% on 2021 figures. In general, exports posted a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, braces and garters exports soared to $X in 2022. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 61%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for braces and garters exports from China, accounting for a 17% share of total exports. Moreover, braces and garters exports to the United States exceeded the volume sent to the second major destination, Japan (X units), twofold. Malaysia (X units) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+19.3% per year) and Malaysia (+33.5% per year).

In value terms, the United States ($X), Japan ($X) and South Korea ($X) were the largest markets for braces and garters exported from China worldwide, with a combined 48% share of total exports. These countries were followed by Malaysia, the UK, the Netherlands, France, Vietnam, the Philippines, Germany, Thailand, Bangladesh and Greece, which together accounted for a further 21%.

Among the main countries of destination, Greece, with a CAGR of +83.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average braces and garters export price stood at $X per unit in 2022, which is down by -24.1% against the previous year. Overall, the export price saw a abrupt curtailment. The growth pace was the most rapid in 2021 an increase of 7.5% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Braces And Garters Imports

Imports into China

In 2022, imports of braces, suspenders and garters into China surged to X units, with an increase of 31% compared with 2021. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 547% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, braces and garters imports soared to $X in 2022. Overall, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2018 when imports increased by 313%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Thailand (X units) constituted the largest supplier of braces and garters to China, with a 74% share of total imports. Moreover, braces and garters imports from Thailand exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. The third position in this ranking was held by Japan (X units), with a 1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand stood at +117.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+39.5% per year) and Japan (-2.0% per year).

In value terms, Thailand ($X) constituted the largest supplier of braces, suspenders and garters to China, comprising 59% of total imports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total imports. It was followed by South Korea, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +78.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+23.6% per year) and South Korea (+33.4% per year).

Import Prices by Country

In 2022, the average braces and garters import price amounted to $X per unit, reducing by -5.7% against the previous year. Overall, the import price showed a abrupt contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by 51% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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