Eastern Asia: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in Eastern Asia

The East Asian market for plastic hoses and hose fittings was estimated at $X in 2021, increasing by 4.5% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.2% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Plastic Hoses and Hose Fittings in Eastern Asia

In value terms, plastic hose and hose fitting production rose markedly to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.3% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 23% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Plastic Hoses and Hose Fittings

Exports in Eastern Asia

In 2021, overseas shipments of plastic hoses and hose fittings increased by 15% to X tons, rising for the fifth year in a row after two years of decline. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% 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 +72.6% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, plastic hose and hose fitting exports soared to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +67.7% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. 83% of total exports in 2021. South Korea (X tons) ranks second in terms of the total exports with a 6.5% share, followed by Taiwan (Chinese) (6.4%). Japan (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the plastic hoses and hose fittings exports, with a CAGR of +8.6% from 2012 to 2021. At the same time, Taiwan (Chinese) (+7.0%) and South Korea (+1.6%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. China (+9.2 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -2.4% and -4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic hose and hose fitting supplier in Eastern Asia, comprising 69% of total exports. The second position in the ranking was held by Japan ($X), with a 16% share of total exports. It was followed by South Korea, with a 6.9% share.

In China, plastic hose and hose fitting exports expanded at an average annual rate of +9.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+1.6% per year) and South Korea (+3.6% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 8.7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 10%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.0%), while the other leaders experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports in Eastern Asia

In 2021, after two years of decline, there was significant growth in purchases abroad of plastic hoses and hose fittings, when their volume increased by 6% to X tons. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 9.7%. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, plastic hose and hose fitting imports skyrocketed to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 +67.4% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the largest importing country with an import of around X tons, which reached 44% of total imports. Japan (X tons) ranks second in terms of the total imports with a 22% share, followed by South Korea (16%), Taiwan (Chinese) (9.3%) and Hong Kong SAR (7.9%).

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +5.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported plastic hoses and hose fittings in Eastern Asia, comprising 61% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by South Korea, with a 13% share.

In China, plastic hose and hose fitting imports expanded at an average annual rate of +7.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+3.1% per year) and South Korea (+8.8% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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