South-Eastern Asia: Ball Bearing Market 2024

Ball Bearing Market Size in South-Eastern Asia

After two years of decline, the Southeast Asian ball bearing market increased by 11% to $X in 2021. The market value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Ball Bearing Production in South-Eastern Asia

In value terms, ball bearing production dropped modestly to $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +18.4% against 2014 indices. The pace of growth was the most pronounced in 2014 with an increase of 55%. The level of production peaked at $X in 2020, and then declined modestly in the following year.

Ball Bearing Exports

Exports in South-Eastern Asia

Ball bearing exports declined to X tons in 2021, stabilizing at 2020 figures. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 37% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, ball bearing exports expanded slightly to $X in 2021. Total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +12.5% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of 48%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand was the major exporter of ball bearings in South-Eastern Asia, with the volume of exports accounting for X tons, which was near 42% of total exports in 2021. Singapore (X tons) held a 23% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (20%) and Malaysia (12%). The Philippines (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +8.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X), Singapore ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 82% share of total exports.

Thailand, with a CAGR of +9.0%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, rising by 5.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2014 an increase of 12% 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 immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the Philippines ($X per ton) and Malaysia ($X per ton), while Indonesia ($X per ton) and Thailand ($X per ton) were 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.

Ball Bearing Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of ball bearings increased by 26% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing imports soared to $X in 2021. Overall, imports, however, recorded a mild reduction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons), distantly followed by Singapore (X tons), Thailand (X tons), Vietnam (X tons) and Malaysia (X tons) represented the major importers of ball bearings, together comprising 95% of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +6.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing importing markets in South-Eastern Asia were Singapore ($X), Thailand ($X) and Vietnam ($X), with a combined 64% share of total imports. Indonesia, Malaysia and the Philippines lagged somewhat behind, together accounting for a further 35%.

The Philippines, with a CAGR of +17.5%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, shrinking by -2.9% against the previous year. Over the period under review, the import price recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2019 when the import price increased by 8.5% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+10.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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