Eastern Asia: Safety Headgear Market 2024

Safety Headgear Market Size in Eastern Asia

The East Asian safety headgear market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, continues to indicate a mild expansion. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Safety Headgear Production in Eastern Asia

In value terms, safety headgear production expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 21%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Safety Headgear Exports

Exports in Eastern Asia

For the sixth year in a row, Eastern Asia recorded growth in shipments abroad of safety headgear, which increased by 18% to X units in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.3% 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 +43.8% against 2014 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety headgear exports soared to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.0% 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 +86.8% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X units, which was approx. 92% of total exports in 2021. The following exporters - Taiwan (Chinese) (X units) and Japan (X units) - together made up 6.4% of total exports.

China was also the fastest-growing in terms of the safety headgear exports, with a CAGR of +5.9% from 2012 to 2021. At the same time, Taiwan (Chinese) (+2.2%) and Japan (+2.0%) displayed positive paces of growth. China (+4.4 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest safety headgear supplier in Eastern Asia, comprising 83% of total exports. The second position in the ranking was held by Japan ($X), with a 9.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China totaled +10.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+6.8% per year) and Taiwan (Chinese) (-0.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, jumping by 22% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.7%), while the other leaders experienced mixed trends in the export price figures.

Safety Headgear Imports

Imports in Eastern Asia

In 2021, supplies from abroad of safety headgear increased by 5% to X units, rising for the third consecutive year after four years of decline. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 14% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, safety headgear imports surged to $X in 2021. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 26%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

Japan (X units) and South Korea (X units) represented roughly 67% of total imports in 2021. Taiwan (Chinese) (X units) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (6%), China (5.5%) and Democratic People's Republic of Korea (4.7%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Taiwan (Chinese) (with a CAGR of +21.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest safety headgear importing markets in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), with a combined 79% share of total imports.

Among the main importing countries, China, with a CAGR of +34.2%, saw the highest growth rate of 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

The import price in Eastern Asia stood at $X per unit in 2021, increasing by 12% against the previous year. Import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, safety headgear import price increased by +85.7% against 2012 indices. The pace of growth was the most pronounced in 2020 an increase of 15%. The level of import peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per unit), while Democratic People's Republic of Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+21.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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