Eastern Asia: Parachute Market 2024

Parachute Market Size in Eastern Asia

The East Asian parachute market reduced to $X in 2021, dropping by -3.3% against the previous year. The total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -36.6% against 2015 indices. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Parachute Production in Eastern Asia

In value terms, parachute production declined to $X in 2021 estimated in export price. The total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +1.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 66%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Parachute Exports

Exports in Eastern Asia

In 2021, overseas shipments of parachutes and rotochutes increased by 40% to X tons, rising for the second year in a row after four years of decline. Overall, exports, however, saw a perceptible downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, parachute exports soared to $X in 2021. Total exports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 +89.4% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) and South Korea (X tons) were the main exporters of parachutes and rotochutes in Eastern Asia, together achieving 83% of total exports. It was distantly followed by Hong Kong SAR (X tons), constituting a 13% share of total exports. Taiwan (Chinese) (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +45.5%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, South Korea ($X) remains the largest parachute supplier in Eastern Asia, comprising 57% of total exports. The second position in the ranking was held by China ($X), with a 24% share of total exports. It was followed by Hong Kong SAR, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Korea totaled +10.4%. In the other countries, the average annual rates were as follows: China (-1.9% per year) and Hong Kong SAR (+1.1% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, almost unchanged from the previous year. Export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, parachute export price increased by +101.4% against 2012 indices. The most prominent rate of growth was recorded in 2013 an increase of 40%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($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 (+6.4%), while the other leaders experienced more modest paces of growth.

Parachute Imports

Imports in Eastern Asia

In 2021, overseas purchases of parachutes and rotochutes increased by 26% to X tons, rising for the second consecutive year after four years of decline. The total import volume increased at an average annual rate of +4.8% from 2012 to 2021; however, 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.

In value terms, parachute imports contracted slightly to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 63%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

South Korea represented the key importer of parachutes and rotochutes in Eastern Asia, with the volume of imports resulting at X tons, which was approx. 58% of total imports in 2021. Hong Kong SAR (X tons) ranks second in terms of the total imports with a 16% share, followed by Japan (12%) and China (12%). Taiwan (Chinese) (X tons) held a minor share of total imports.

South Korea was also the fastest-growing in terms of the parachutes and rotochutes imports, with a CAGR of +16.3% from 2012 to 2021. At the same time, China (+14.1%) displayed positive paces of growth. By contrast, Hong Kong SAR (-3.5%), Japan (-5.0%) and Taiwan (Chinese) (-11.8%) illustrated a downward trend over the same period. While the share of South Korea (+35 p.p.) and China (+6.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-6.6 p.p.), Japan (-16.9 p.p.) and Hong Kong SAR (-18.1 p.p.) displayed negative dynamics.

In value terms, the largest parachute importing markets in Eastern Asia were South Korea ($X), Japan ($X) and China ($X), together comprising 81% of total imports.

China, with a CAGR of +27.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, reducing by -23.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 38%. As a result, import price attained the peak level of $X per ton, and then dropped dramatically in the following year.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+22.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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