Eastern Asia: Metal-Reinforced Rubber Hose Market 2024

Metal-Reinforced Rubber Hose Market Size in Eastern Asia

In 2022, the East Asian metal-reinforced rubber hose market decreased by -5% to $X, falling for the third year in a row after four years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Metal-Reinforced Rubber Hose Production in Eastern Asia

In value terms, metal-reinforced rubber hose production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% 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 2018 with an increase of 17% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Metal-Reinforced Rubber Hose Exports

Exports in Eastern Asia

In 2022, overseas shipments of rubber hose reinforced with metal increased by 1.8% to X tons, rising for the second consecutive year after two years of decline. In general, exports enjoyed resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 59% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, metal-reinforced rubber hose exports expanded modestly to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +64.5% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 58%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. 92% of total exports in 2022. The following exporters - Japan (X tons) and South Korea (X tons) - together made up 7.6% of total exports.

Exports from China increased at an average annual rate of +7.8% from 2012 to 2022. At the same time, South Korea (+10.2%) and Japan (+1.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +10.2% from 2012-2022. From 2012 to 2022, the share of China increased by +4.8 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal-reinforced rubber hose supplier in Eastern Asia, comprising 86% of total exports. The second position in the ranking was taken by Japan ($X), with a 7.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to +7.1%. In the other countries, the average annual rates were as follows: Japan (-0.1% per year) and South Korea (+7.9% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by 2.3% against the previous year. Over the period under review, the export price, however, saw a slight curtailment. The pace of growth was the most pronounced in 2016 when the export price increased by 15%. As a result, the export price attained the peak level of $X per ton. From 2017 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 Japan ($X per ton), while China ($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 (-0.7%), while the other leaders experienced a decline in the export price figures.

Metal-Reinforced Rubber Hose Imports

Imports in Eastern Asia

In 2022, approx. X tons of rubber hose reinforced with metal were imported in Eastern Asia; waning by -22.7% compared with 2021. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. As a result, imports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, metal-reinforced rubber hose imports reduced to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

China was the key importer of rubber hose reinforced with metal in Eastern Asia, with the volume of imports accounting for X tons, which was near 48% of total imports in 2022. South Korea (X tons) held the second position in the ranking, distantly followed by Japan (X tons) and Taiwan (Chinese) (X tons). All these countries together held near 49% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Taiwan (Chinese) (with a CAGR of +3.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported rubber hose reinforced with metal in Eastern Asia, comprising 49% of total imports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total imports. It was followed by Japan, with a 19% share.

In China, metal-reinforced rubber hose imports shrank by an average annual rate of -1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+1.8% per year) and Japan (+0.4% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, picking up by 11% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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