Myanmar: Hairpin Market 2024

Hairpin Market Size in Myanmar

In 2021, the Myanmar's hairpin market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption showed a significant increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Hairpin Production in Myanmar

In value terms, hairpin production surged to $X in 2021 estimated in export price. Over the period under review, production, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 40% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Hairpin Exports

Exports from Myanmar

In 2021, overseas shipments of hairpins, curling pins, curling grips and hair-curlers decreased by -73.6% to X kg, falling for the fourth year in a row after two years of growth. Over the period under review, exports faced a precipitous curtailment. The pace of growth was the most pronounced in 2016 with an increase of 204% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, hairpin exports dropped rapidly to $X in 2021. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 447%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X kg) was the main destination for hairpin exports from Myanmar, accounting for a 45% share of total exports. Moreover, hairpin exports to Malaysia exceeded the volume sent to the second major destination, Israel (X kg), twofold. Kuwait (X kg) ranked third in terms of total exports with a 20% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (0.0% per year) and Kuwait (+33.5% per year).

In value terms, Kuwait ($X) emerged as the key foreign market for hairpin exports from Myanmar, comprising 54% of total exports. The second position in the ranking was held by Israel ($X), with a 17% share of total exports. It was followed by Malaysia, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Kuwait amounted to +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (0.0% per year) and Malaysia (0.0% per year).

Export Prices by Country

In 2021, the average hairpin export price amounted to $X per ton, surging by 6.9% against the previous year. Overall, the export price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2015 when the average export price increased by 150% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per ton), while the average price for exports to the United Arab Emirates ($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 Japan (-8.6%), while the prices for the other major destinations experienced a decline.

Hairpin Imports

Imports into Myanmar

In 2021, after two years of decline, there was significant growth in purchases abroad of hairpins, curling pins, curling grips and hair-curlers, when their volume increased by 735% to X tons. Overall, imports saw a remarkable increase. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, hairpin imports skyrocketed to $X in 2021. In general, imports saw a remarkable increase. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Thailand (X tons), Malaysia (X tons) and China (X kg) were the main suppliers of hairpin imports to Myanmar, together comprising 97% of total imports.

From 2012 to 2021, the biggest increases were in Malaysia (with a CAGR of +65.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of hairpin to Myanmar, comprising 56% of total imports. The second position in the ranking was taken by Thailand ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia totaled +80.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-7.4% per year) and China (+13.7% per year).

Import Prices by Country

In 2021, the average hairpin import price amounted to $X per ton, dropping by -15% against the previous year. Overall, the import price continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 26%. The import price peaked at $X per ton in 2020, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+8.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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