Eastern Asia: Braces And Garters Market 2024

Braces And Garters Market Size in Eastern Asia

The East Asian braces and garters market reduced to $X in 2022, with a decrease of -13.5% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Braces And Garters Production in Eastern Asia

In value terms, braces and garters production rose modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 19% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Braces And Garters Exports

Exports in Eastern Asia

Braces and garters exports soared to X units in 2022, increasing by 25% compared with 2021 figures. The total export volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 31%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, braces and garters exports declined remarkably to $X in 2022. Overall, exports, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2021 with an increase of 23%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporting country with an export of about X units, which recorded 76% of total exports. It was distantly followed by Hong Kong SAR (X units), comprising a 20% share of total exports. Taiwan (Chinese) (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the braces, suspenders and garters exports, with a CAGR of +19.2% from 2012 to 2022. Hong Kong SAR (-8.1%) and Taiwan (Chinese) (-9.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +57 percentage points.

In value terms, Hong Kong SAR ($X), China ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2022, with a combined 98% share of total exports.

China, with a CAGR of +13.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, which is down by -38% against the previous year. Overall, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 13% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.4%), while the other leaders experienced mixed trends in the export price figures.

Braces And Garters Imports

Imports in Eastern Asia

In 2022, imports of braces, suspenders and garters in Eastern Asia contracted to X units, dropping by -12.1% compared with the previous year. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +13.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 91%. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, braces and garters imports fell to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +9.2% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 91% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) represented the key importer of braces, suspenders and garters, constituting 75% of total imports. Hong Kong SAR (X units) took the second position in the ranking, distantly followed by China (X units) and South Korea (X units). All these countries together took approx. 25% share of total imports.

Imports into Japan increased at an average annual rate of +16.0% from 2012 to 2022. At the same time, China (+42.1%) and South Korea (+6.4%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +42.1% from 2012-2022. By contrast, Hong Kong SAR (-5.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Japan and China increased by +35 and +5.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported braces, suspenders and garters in Eastern Asia, comprising 77% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 17% share of total imports. It was followed by South Korea, with a 4% share.

In Japan, braces and garters imports increased at an average annual rate of +16.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (-4.7% per year) and South Korea (+6.6% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, declining by -2.6% against the previous year. In general, the import price showed a slight contraction. The pace of growth was the most pronounced in 2017 when the import price increased by 3.2% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while China ($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 (+0.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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