South-Eastern Asia: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in South-Eastern Asia

The Southeast Asian conveyor or transmission belt market amounted to $X in 2021, increasing by 14% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Conveyor Or Transmission Belts Or Belting in South-Eastern Asia

In value terms, conveyor or transmission belt production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 55%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in South-Eastern Asia

In 2021, after three years of decline, there was significant growth in overseas shipments of conveyor or transmission belts or belting, when their volume increased by 25% to X tons. The total export volume increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, conveyor or transmission belt exports surged to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Thailand (X tons) was the major exporter of conveyor or transmission belts or belting, constituting 44% of total exports. Indonesia (X tons) took a 24% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (16%), Singapore (8.4%) and Malaysia (6.5%).

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +11.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt supplying countries in South-Eastern Asia were Thailand ($X), Singapore ($X) and Indonesia ($X), with a combined 85% share of total exports. These countries were followed by Vietnam and Malaysia, which together accounted for a further 15%.

In terms of the main exporting countries, Vietnam, with a CAGR of +8.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, remaining stable against the previous year. In general, the export price showed a mild downturn. The most prominent rate of growth was recorded in 2019 an increase of 13%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 Singapore ($X per ton), while Vietnam ($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 (+5.3%), while the other leaders experienced a decline in the export price figures.

Imports of Conveyor Or Transmission Belts Or Belting

Imports in South-Eastern Asia

In 2021, supplies from abroad of conveyor or transmission belts or belting was finally on the rise to reach 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 +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, conveyor or transmission belt imports surged to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons), distantly followed by Vietnam (X tons), Thailand (X tons), Malaysia (X tons), the Philippines (X tons) and Myanmar (X tons) represented the major importers of conveyor or transmission belts or belting, together generating 93% of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +12.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt importing markets in South-Eastern Asia were Indonesia ($X), Vietnam ($X) and Thailand ($X), with a combined 62% share of total imports. Singapore, Malaysia, the Philippines and Myanmar lagged somewhat behind, together accounting for a further 35%.

The Philippines, with a CAGR of +11.9%, saw the highest growth rate of 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, declining by -3.8% against the previous year. Over the period under review, the import price continues to indicate a mild slump. The pace of growth was the most pronounced in 2016 an increase of 17% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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