Eastern Asia: Radiator Market 2024

Radiator Market Size in Eastern Asia

The East Asian radiator market stood at $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.8% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Radiator Production in Eastern Asia

In value terms, radiator production expanded to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.2% against 2018 indices. The growth pace was the most rapid in 2015 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Radiator Exports

Exports in Eastern Asia

In 2022, exports of radiators for central heating (not electrically heated) in Eastern Asia rose markedly to X tons, surging by 7% against 2021 figures. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, radiator exports shrank to $X in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.6% against 2016 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 36%. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

The shipments of the one major exporters of radiators for central heating (not electrically heated), namely China, represented more than two-thirds of total export.

China experienced a relatively flat trend pattern with regard to volume of exports of radiators for central heating (not electrically heated). The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest radiator supplier in Eastern Asia.

In China, radiator exports expanded at an average annual rate of +4.6% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, which is down by -12.6% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 an increase of 17% against the previous year. The level of export peaked at $X per ton in 2021, and then dropped in the following year.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +4.6% per year.

Radiator Imports

Imports in Eastern Asia

In 2022, approx. X tons of radiators for central heating (not electrically heated) were imported in Eastern Asia; which is down by -70.6% against the previous year's figure. Overall, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2013 when imports increased by 63% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, radiator imports reduced remarkably to $X in 2022. In general, imports showed a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 43%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China was the key importer of radiators for central heating (not electrically heated) in Eastern Asia, with the volume of imports finishing at X tons, which was approx. 80% of total imports in 2022. It was distantly followed by Japan (X tons) and Democratic People's Republic of Korea (X tons), together comprising an 18% share of total imports. South Korea (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to radiator imports into China stood at -5.5%. At the same time, Democratic People's Republic of Korea (+4.8%) 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 +4.8% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-4.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Japan and Democratic People's Republic of Korea increased by +4.5 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported radiators for central heating (not electrically heated) in Eastern Asia, comprising 63% of total imports. The second position in the ranking was taken by Japan ($X), with a 24% share of total imports. It was followed by Democratic People's Republic of Korea, with a 4.1% share.

In China, radiator imports plunged by an average annual rate of -4.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-1.2% per year) and Democratic People's Republic of Korea (+4.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by 57% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radiator import price increased by +88.8% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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