Malaysia: Parachute Market 2024

Parachute Market Size in Malaysia

In 2021, the Malaysian parachute market increased by 5% to $X, rising for the second year in a row after four years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Parachute Production in Malaysia

In value terms, parachute production reduced modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild curtailment. The growth pace was the most rapid in 2015 when the production volume increased by 58% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Parachute Exports

Exports from Malaysia

In 2021, overseas shipments of parachutes and rotochutes decreased by -85.3% to X kg, falling for the second year in a row after two years of growth. Overall, exports faced a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 981%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, parachute exports reduced rapidly to $X in 2021. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2018 with an increase of 578% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X kg), Papua New Guinea (X kg) and Singapore (X kg) were the main destinations of parachute exports from Malaysia, with a combined 60% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Papua New Guinea (with a CAGR of +52.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X) emerged as the key foreign market for parachutes and rotochutes exports from Malaysia, comprising 32% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 14% share of total exports. It was followed by Brunei Darussalam, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to France stood at +44.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+89.9% per year) and Brunei Darussalam (-23.0% per year).

Export Prices by Country

The average parachute export price stood at $X per ton in 2021, increasing by 7.7% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, parachute export price decreased by -10.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 96% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to Indonesia ($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 Spain (+54.9%), while the prices for the other major destinations experienced more modest paces of growth.

Parachute Imports

Imports into Malaysia

In 2021, purchases abroad of parachutes and rotochutes increased by 27% to X tons, rising for the third consecutive year after two years of decline. Overall, imports showed a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 275%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, parachute imports soared to $X in 2021. Over the period under review, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2016 when imports increased by 320% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest parachute supplier to Malaysia, with a 52% share of total imports. Moreover, parachute imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was held by Vietnam (X kg), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+12.7% per year) and Vietnam (+29.9% per year).

In value terms, the United States ($X) constituted the largest supplier of parachutes and rotochutes to Malaysia, comprising 39% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 19% share of total imports. It was followed by the UK, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+41.5% per year) and the UK (+1.8% per year).

Import Prices by Country

The average parachute import price stood at $X per ton in 2021, with an increase of 14% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the average import price increased by 36% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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