Eastern Asia: Sails Market 2024

Sails Market Size in Eastern Asia

The East Asian sails market shrank slightly to $X in 2022, with a decrease of -1.9% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Sails Production in Eastern Asia

In value terms, sails production declined modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 33% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Sails Exports

Exports in Eastern Asia

Sails exports shrank significantly to X tons in 2022, reducing by -34.9% against the previous year. In general, exports saw a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 92% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sails exports fell to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 81%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

China represented the major exporter of sails in Eastern Asia, with the volume of exports amounting to X tons, which was near 76% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons), constituting a 22% share of total exports.

Exports from China decreased at an average annual rate of -6.2% from 2012 to 2022. Hong Kong SAR (-5.8%) illustrated a downward trend over the same period. While the share of China (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sails supplying countries in Eastern Asia were China ($X) and Hong Kong SAR ($X).

Among the main exporting countries, Hong Kong SAR, with a CAGR of -0.6%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, increasing by 33% against the previous year. Overall, the export price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 when the export price increased by 72%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.5%).

Sails Imports

Imports in Eastern Asia

Sails imports declined to X tons in 2022, which is down by -7% on the year before. Overall, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 when imports increased by 34% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sails imports expanded sharply to $X in 2022. In general, imports faced a abrupt decline. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Hong Kong SAR dominates imports structure, amounting to X tons, which was approx. 81% of total imports in 2022. It was distantly followed by Japan (X tons) and China (X tons), together making up a 14% share of total imports. The following importers - South Korea (X tons) and Taiwan (Chinese) (X tons) - together made up 5.5% of total imports.

From 2012 to 2022, average annual rates of growth with regard to sails imports into Hong Kong SAR stood at -9.1%. At the same time, Taiwan (Chinese) (+8.2%) and China (+2.4%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +8.2% from 2012-2022. By contrast, Japan (-2.7%) and South Korea (-7.3%) illustrated a downward trend over the same period. China (+3.6 p.p.), Japan (+3.5 p.p.) and Taiwan (Chinese) (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X), China ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, together accounting for 88% of total imports.

China, with a CAGR of +6.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by 23% against the previous year. Over the period under review, the import price, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 39%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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