South-Eastern Asia: Accordion Market 2024

Accordion Market Size in South-Eastern Asia

The Southeast Asian accordion market declined to $X in 2021, reducing by -10.5% against the previous year. Over the period under review, consumption continues to indicate a perceptible shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Accordion Production in South-Eastern Asia

In value terms, accordion production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 11% against the previous year. The level of production peaked in 2021 and is expected to retain growth in years to come.

Accordion Exports

Exports in South-Eastern Asia

In 2021, the amount of accordions and mouth organs exported in South-Eastern Asia declined slightly to X units, falling by -4.8% on 2020. Over the period under review, exports recorded a pronounced decrease. The pace of growth was the most pronounced in 2016 with an increase of 13% against the previous year. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, accordion exports reached $X in 2021. In general, exports recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 9.9%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia prevails in exports structure, reaching X units, which was approx. 96% of total exports in 2021. Vietnam (X units) held a little share of total exports.

Indonesia was also the fastest-growing in terms of the accordions and mouth organs exports, with a CAGR of -4.0% from 2012 to 2021. Vietnam (-10.5%) illustrated a downward trend over the same period. While the share of Indonesia (+3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Vietnam (-1.5 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest accordion supplier in South-Eastern Asia, comprising 90% of total exports. The second position in the ranking was held by Vietnam ($X), with a 3.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia stood at -3.0%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, rising by 5.8% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 11% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Indonesia amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.0%).

Accordion Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of accordions and mouth organs decreased by -54.7% to X units, falling for the third consecutive year after three years of growth. Over the period under review, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 35%. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, accordion imports dropped to $X in 2021. In general, imports showed a abrupt slump. The pace of growth was the most pronounced in 2018 when imports increased by 30%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia was the major importing country with an import of around X units, which resulted at 56% of total imports. It was distantly followed by Singapore (X units), Indonesia (X units) and Thailand (X units), together constituting a 42% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to accordion imports into Malaysia stood at -5.2%. Singapore experienced a relatively flat trend pattern. Thailand (-13.5%) and Indonesia (-30.1%) illustrated a downward trend over the same period. Malaysia (+43 p.p.), Singapore (+14 p.p.) and Thailand (+4.8 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia saw its share reduced by -43.2% from 2012 to 2021, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported accordions and mouth organs in South-Eastern Asia, comprising 49% of total imports. The second position in the ranking was held by Malaysia ($X), with a 23% share of total imports. It was followed by Thailand, with a 20% share.

In Singapore, accordion imports expanded at an average annual rate of +6.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (-14.4% per year) and Thailand (-8.7% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, growing by 109% against the previous year. In general, the import price recorded prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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