Malaysia: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in Malaysia

In 2021, after four years of growth, there was significant decline in the Malaysian market for plastic hoses and hose fittings, when its value decreased by -15.8% to $X. In general, consumption, however, saw resilient growth. Over the period under review, the market hit record highs at $X in 2020, and then dropped significantly in the following year.

Production of Plastic Hoses and Hose Fittings in Malaysia

In value terms, plastic hose and hose fitting production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, posted resilient growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 45% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Exports of Plastic Hoses and Hose Fittings

Exports from Malaysia

In 2021, overseas shipments of plastic hoses and hose fittings were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports showed a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 46% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, plastic hose and hose fitting exports soared to $X in 2021. Overall, exports saw a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X tons) was the main destination for plastic hose and hose fitting exports from Malaysia, with a 58% share of total exports. Moreover, plastic hose and hose fitting exports to Australia exceeded the volume sent to the second major destination, Singapore (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled +20.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-5.1% per year) and Vietnam (+21.6% per year).

In value terms, Australia ($X), Singapore ($X) and Vietnam ($X) appeared to be the largest markets for plastic hose and hose fitting exported from Malaysia worldwide, together accounting for 78% of total exports. Thailand, Indonesia, New Zealand and India lagged somewhat behind, together accounting for a further 8.9%.

Among the main countries of destination, New Zealand, with a CAGR of +51.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for plastic hoses and hose fittings stood at $X per ton in 2021, growing by 24% against the previous year. Over the period under review, the export price posted a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 36% against the previous year. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Thailand ($X per ton), while the average price for exports to India ($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 Singapore (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports into Malaysia

In 2021, approx. X tons of plastic hoses and hose fittings were imported into Malaysia; surging by 7.5% compared with the previous year's figure. The total import volume increased at an average annual rate of +4.6% 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 29%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, plastic hose and hose fitting imports soared to $X in 2021. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.7% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 55% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest plastic hose and hose fitting supplier to Malaysia, accounting for a 61% share of total imports. Moreover, plastic hose and hose fitting imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. South Korea (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.2% per year) and South Korea (+17.2% per year).

In value terms, China ($X), the United States ($X) and Japan ($X) appeared to be the largest plastic hose and hose fitting suppliers to Malaysia, together accounting for 64% of total imports. South Korea, Singapore, Germany and Thailand lagged somewhat behind, together comprising a further 25%.

South Korea, with a CAGR of +27.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for plastic hoses and hose fittings amounted to $X per ton, growing by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2017 an increase of 22% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for China ($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 Korea (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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