Malaysia: Market for Preparations For Permanent Waving Or Straightening Of Hair 2024

Market Size for Preparations For Permanent Waving Or Straightening Of Hair in Malaysia

The Malaysian market for preparations for permanent waving or straightening of hair was finally on the rise to reach $X in 2021, after three years of decline. In general, consumption showed a pronounced reduction. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Preparations For Permanent Waving Or Straightening Of Hair in Malaysia

In value terms, hair waving or straightening preparations production soared to $X in 2021 estimated in export price. Overall, production recorded a perceptible decline. The most prominent rate of growth was recorded in 2015 with an increase of 22%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Preparations For Permanent Waving Or Straightening Of Hair

Exports from Malaysia

In 2021, shipments abroad of preparations for permanent waving or straightening of hair increased by 1.4% to X tons, rising for the fourth year in a row after three years of decline. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 172% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, hair waving or straightening preparations exports surged to $X in 2021. Overall, exports, however, saw a perceptible reduction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for hair waving or straightening preparations exports from Malaysia, accounting for a 52% share of total exports. Moreover, hair waving or straightening preparations exports to the United States exceeded the volume sent to the second major destination, Brunei Darussalam (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +47.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (+15.4% per year) and Vietnam (+23.0% per year).

In value terms, Brunei Darussalam ($X), the United States ($X) and Singapore ($X) constituted the largest markets for hair waving or straightening preparations exported from Malaysia worldwide, with a combined 61% share of total exports.

The United States, with a CAGR of +36.8%, recorded the highest growth rate of the value of exports, among the main countries of destination 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 preparations for permanent waving or straightening of hair stood at $X per ton in 2021, increasing by 44% against the previous year. In general, the export price, however, continues to indicate a pronounced slump. The growth pace was the most rapid in 2017 when the average export price increased by 53%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Singapore ($X per ton), while the average price for exports to the United States ($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 (+3.1%), while the prices for the other major destinations experienced a decline.

Imports of Preparations For Permanent Waving Or Straightening Of Hair

Imports into Malaysia

In 2021, overseas purchases of preparations for permanent waving or straightening of hair decreased by -29% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports recorded a pronounced decrease. The pace of growth was the most pronounced in 2015 when imports increased by 17% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, hair waving or straightening preparations imports shrank dramatically to $X in 2021. In general, imports showed a abrupt downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 9.9% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of hair waving or straightening preparations imports to Malaysia, together comprising 89% of total imports. Thailand, Indonesia, Lebanon, the United States and Germany lagged somewhat behind, together comprising a further 8.6%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +32.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hair waving or straightening preparations suppliers to Malaysia were Japan ($X), China ($X) and South Korea ($X), with a combined 81% share of total imports. Thailand, the United States, Lebanon, Indonesia and Germany lagged somewhat behind, together comprising a further 9.3%.

Among the main suppliers, Indonesia, with a CAGR of +29.0%, 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

In 2021, the average import price for preparations for permanent waving or straightening of hair amounted to $X per ton, reducing by -16.7% against the previous year. Over the period under review, the import price showed a pronounced shrinkage. The growth pace was the most rapid in 2016 when the average import price increased by 14% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (+9.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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