South-Eastern Asia: Hand Tools Market 2024

Hand Tools Market Size in South-Eastern Asia

In 2021, after two years of growth, there was decline in the Southeast Asian hand tools market, when its value decreased by -0.1% to $X. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Hand Tools Production in South-Eastern Asia

In value terms, hand tools production contracted slightly to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 +32.1% against 2013 indices. The growth pace was the most rapid in 2013 with an increase of 45% against the previous year. The level of production peaked at $X in 2020, and then contracted modestly in the following year.

Hand Tools Exports

Exports in South-Eastern Asia

Hand tools exports soared to X tons in 2021, picking up by 21% on 2020 figures. The total export volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hand tools exports stood at $X in 2021. The total export value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 20% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X tons), Thailand (X tons) and Singapore (X tons) represented roughly 86% of total exports in 2021. Malaysia (X tons) ranks next in terms of the total exports with a 7.8% share, followed by Indonesia (5%).

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +17.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest hand tools supplying countries in South-Eastern Asia were Singapore ($X), Vietnam ($X) and Thailand ($X), together accounting for 88% of total exports.

Vietnam, with a CAGR of +18.5%, recorded the highest rates of growth with regard to the value of exports, among 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, which is down by -7.5% against the previous year. In general, the export price continues to indicate a mild setback. The most prominent rate of growth was recorded in 2018 when the export price increased by 9.7%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.1%), while the other leaders experienced mixed trends in the export price figures.

Hand Tools Imports

Imports in South-Eastern Asia

After three years of decline, supplies from abroad of hand tools increased by 31% to X tons in 2021. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hand tools imports skyrocketed to $X in 2021. In general, imports, however, recorded a mild descent. The growth pace was the most rapid in 2017 when imports increased by 58%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of hand tools imports in 2021 were Indonesia (X tons), Malaysia (X tons) and Thailand (X tons), together reaching 73% of total import. Vietnam (X tons) ranks next in terms of the total imports with a 10% share, followed by Singapore (6.6%). The following importers - the Philippines (X tons) and Myanmar (X tons) - each amounted to a 6.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +14.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 54% share of total imports. These countries were followed by Vietnam, Malaysia, the Philippines and Myanmar, which together accounted for a further 41%.

The Philippines, with a CAGR of +17.3%, recorded the highest growth rate of the value of imports, in terms of 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, dropping by -9.2% against the previous year. Overall, the import price continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2017 when the import price increased by 41% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the import prices failed to regain momentum.

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 Singapore ($X per ton), while Indonesia ($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 (+25.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :