Malaysia: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Malaysia

In 2021, the Malaysian conveyor or transmission belt market increased by 22% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Conveyor Or Transmission Belts Or Belting in Malaysia

In value terms, conveyor or transmission belt production skyrocketed to $X in 2021 estimated in export price. Overall, production recorded a temperate expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 98% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Malaysia

In 2021, overseas shipments of conveyor or transmission belts or belting increased by 5.5% to X tons, rising for the fifth consecutive year after four years of decline. Over the period under review, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 48% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, conveyor or transmission belt exports soared to $X in 2021. Overall, exports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 100% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X tons), the United States (X tons) and Taiwan (Chinese) (X tons) were the main destinations of conveyor or transmission belt exports from Malaysia, with a combined 45% share of total exports. India, China, Mexico, Myanmar, Turkey, Saudi Arabia, Vietnam, Germany and Venezuela lagged somewhat behind, together comprising a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +85.8%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for conveyor or transmission belts or belting exports from Malaysia, comprising 26% of total exports. The second position in the ranking was held by Germany ($X), with a 9.5% share of total exports. It was followed by China, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore amounted to -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+79.7% per year) and China (+0.9% per year).

Export Prices by Country

The average conveyor or transmission belt export price stood at $X per ton in 2021, with an increase of 12% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2021: its price 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, conveyor or transmission belt export price decreased by -27.7% against 2017 indices. The most prominent rate of growth was recorded in 2017 an increase of 35%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Malaysia

In 2021, the amount of conveyor or transmission belts or belting imported into Malaysia soared to X tons, growing by 25% compared with 2020 figures. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 30%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of conveyor or transmission belt to Malaysia, with a 83% share of total imports. It was followed by Thailand (X tons), with a 2.7% share of total imports. Japan (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-11.2% per year) and Japan (-13.8% per year).

In value terms, China ($X) constituted the largest supplier of conveyor or transmission belts or belting to Malaysia, comprising 53% of total imports. The second position in the ranking was held by Japan ($X), with a 7.7% share of total imports. It was followed by Thailand, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-10.8% per year) and Thailand (-10.0% per year).

Import Prices by Country

In 2021, the average conveyor or transmission belt import price amounted to $X per ton, dropping by -6.8% against the previous year. Overall, the import price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of 11%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Vietnam ($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 (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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