Eastern Asia: Hairpin Market 2024

Hairpin Market Size in Eastern Asia

The East Asian hairpin market reduced to $X in 2021, waning by -10.3% against the previous year. In general, consumption, however, showed a prominent expansion. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Hairpin Production in Eastern Asia

In value terms, hairpin production declined to $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.1% 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 increased by +4.5% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 61% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Hairpin Exports

Exports in Eastern Asia

Hairpin exports skyrocketed to X tons in 2021, picking up by 25% against the previous year. Over the period under review, exports, however, continue to indicate a perceptible contraction. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hairpin exports soared to $X in 2021. Total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +61.5% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, recording X tons, which was near 93% of total exports in 2021. The following exporters - South Korea (X tons) and Hong Kong SAR (X tons) - together made up 5.6% of total exports.

China was also the fastest-growing in terms of the hairpins, curling pins, curling grips and hair-curlers exports, with a CAGR of -3.3% from 2012 to 2021. South Korea (-3.3%) and Hong Kong SAR (-16.8%) illustrated a downward trend over the same period. While the share of China (+5.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hairpin supplier in Eastern Asia, comprising 85% of total exports. The second position in the ranking was taken by South Korea ($X), with a 9.6% share of total exports.

In China, hairpin exports increased at an average annual rate of +5.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+0.3% per year) and Hong Kong SAR (-11.3% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, jumping by 22% against the previous year. Export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hairpin export price increased by +40.4% against 2018 indices. The growth pace was the most rapid in 2013 an increase of 22% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the other leaders experienced more modest paces of growth.

Hairpin Imports

Imports in Eastern Asia

In 2021, hairpin imports in Eastern Asia surged to X tons, increasing by 22% compared with the previous year. In general, imports, however, recorded a perceptible curtailment. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hairpin imports skyrocketed to $X in 2021. The total import value 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 throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea represented the main importer of hairpins, curling pins, curling grips and hair-curlers in Eastern Asia, with the volume of imports accounting for X tons, which was near 56% of total imports in 2021. Japan (X tons) ranks second in terms of the total imports with a 23% share, followed by Hong Kong SAR (9.6%). China (X tons), Taiwan (Chinese) (X tons) and Democratic People's Republic of Korea (X tons) followed a long way behind the leaders.

Imports into South Korea increased at an average annual rate of +20.7% from 2012 to 2021. At the same time, Democratic People's Republic of Korea (+58.4%) and Japan (+1.8%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +58.4% from 2012-2021. China experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-11.9%) and Hong Kong SAR (-22.4%) illustrated a downward trend over the same period. South Korea (+49 p.p.), Japan (+9 p.p.) and Democratic People's Republic of Korea (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and Hong Kong SAR saw its share reduced by -4.7% and -57.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Japan ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, with a combined 92% share of total imports. Hong Kong SAR, Taiwan (Chinese) and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further 6.6%.

Among the main importing countries, Democratic People's Republic of Korea, with a CAGR of +40.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 9.5% against the previous year. Import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hairpin import price increased by +12.3% against 2019 indices. The pace of growth was the most pronounced in 2014 when the import price increased by 58% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+16.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform