South-Eastern Asia: Twig Broom Market 2024

Twig Broom Market Size in South-Eastern Asia

After two years of growth, the Southeast Asian twig broom market decreased by -21.6% to $X in 2021. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020, and then shrank notably in the following year.

Twig Broom Production in South-Eastern Asia

In value terms, twig broom production declined markedly to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +63.2% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 49% against the previous year. As a result, production reached the peak level of $X, and then shrank notably in the following year.

Twig Broom Exports

Exports in South-Eastern Asia

In 2021, approx. X units of brooms and brushes of twigs were exported in South-Eastern Asia; approximately reflecting 2020 figures. Overall, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 when exports increased by 46%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, twig broom exports expanded sharply to $X in 2021. In general, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 69% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, Indonesia (X units), the Philippines (X units) and Myanmar (X units) was the main exporter of brooms and brushes of twigs in South-Eastern Asia, comprising 74% of total export. It was distantly followed by Malaysia (X units), Thailand (X units) and Vietnam (X units), together mixing up a 25% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +65.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), the Philippines ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 83% of total exports.

In terms of the main exporting countries, the Philippines, with a CAGR of +74.3%, recorded 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 export price in South-Eastern Asia stood at $X per unit in 2021, rising by 4.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2020 an increase of 16% against the previous year. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.0%), while the other leaders experienced more modest paces of growth.

Twig Broom Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of brooms and brushes of twigs decreased by -43.1% to X units, falling for the fifth consecutive year after two years of growth. Overall, imports, however, showed a modest expansion. The pace of growth appeared the most rapid in 2015 with an increase of 82%. Over the period under review, imports reached the maximum at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, twig broom imports declined remarkably to $X in 2021. In general, imports, however, saw a moderate increase. The pace of growth was the most pronounced in 2015 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The Philippines was the main importer of brooms and brushes of twigs in South-Eastern Asia, with the volume of imports recording X units, which was near 57% of total imports in 2021. Malaysia (X units) ranks second in terms of the total imports with a 25% share, followed by Vietnam (7.2%) and Thailand (5.3%). Singapore (X units) held a little share of total imports.

Imports into the Philippines increased at an average annual rate of +8.5% from 2012 to 2021. At the same time, Vietnam (+59.4%) and Malaysia (+4.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +59.4% from 2012-2021. By contrast, Thailand (-16.2%) and Singapore (-17.4%) illustrated a downward trend over the same period. While the share of the Philippines (+25 p.p.), Vietnam (+7.1 p.p.) and Malaysia (+5.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-10.3 p.p.) and Thailand (-25.2 p.p.) displayed negative dynamics.

In value terms, the Philippines ($X), Vietnam ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 86% share of total imports.

Vietnam, with a CAGR of +68.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, surging by 8.9% against the previous year. Import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, twig broom import price increased by +94.5% against 2016 indices. The growth pace was the most rapid in 2019 when the import price increased by 23%. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Thailand ($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 (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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