South-Eastern Asia: Plastic Headgear Market 2025

Plastic Headgear Market Size in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in the Southeast Asian plastic headgear market, when its value decreased by -15.5% to $X. Over the period under review, consumption continues to indicate a temperate increase. As a result, consumption attained the peak level of $X, and then declined remarkably in the following year.

Plastic Headgear Production in South-Eastern Asia

In value terms, plastic headgear production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 23% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plastic Headgear Exports

Exports in South-Eastern Asia

In 2022, after two years of decline, there was significant growth in shipments abroad of headgear of rubber or plastic, when their volume increased by 12% to X units. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 43%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic headgear exports soared to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when exports increased by 67%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia was the major exporting country with an export of about X units, which reached 56% of total exports. Vietnam (X units) held the second position in the ranking, followed by Myanmar (X units), Thailand (X units), Cambodia (X units) and Singapore (X units). All these countries together held near 44% share of total exports.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of headgear of rubber or plastic. At the same time, Myanmar (+79.7%), Cambodia (+16.2%) and Singapore (+11.9%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +79.7% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Thailand (-8.0%) illustrated a downward trend over the same period. Myanmar (+8.9 p.p.), Cambodia (+5.7 p.p.) and Singapore (+3.9 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Thailand saw its share reduced by -4.8% and -11.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest plastic headgear supplier in South-Eastern Asia, comprising 45% of total exports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total exports. It was followed by Singapore, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia totaled +4.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+1.6% per year) and Singapore (+24.9% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, with an increase of 10% against the previous year. Export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic headgear export price increased by +83.3% against 2013 indices. The growth pace was the most rapid in 2019 when the export price increased by 17% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+11.6%), while the other leaders experienced more modest paces of growth.

Plastic Headgear Imports

Imports in South-Eastern Asia

For the fourth consecutive year, South-Eastern Asia recorded growth in supplies from abroad of headgear of rubber or plastic, which increased by 5.7% to X units in 2022. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 57%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, plastic headgear imports dropped notably to $X in 2022. In general, imports saw a perceptible increase. The pace of growth appeared the most rapid in 2021 with an increase of 42% against the previous year. As a result, imports reached the peak of $X, and then shrank significantly in the following year.

Imports by Country

In 2022, Thailand (X units) represented the key importer of headgear of rubber or plastic, constituting 48% of total imports. Vietnam (X units) ranks second in terms of the total imports with a 24% share, followed by Malaysia (12%) and Singapore (7.4%). The following importers - Indonesia (X units) and Myanmar (X units) - together made up 6.4% of total imports.

From 2012 to 2022, average annual rates of growth with regard to plastic headgear imports into Thailand stood at +31.2%. At the same time, Myanmar (+32.6%), Malaysia (+8.0%) and Vietnam (+6.8%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +32.6% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (-11.9%) illustrated a downward trend over the same period. While the share of Thailand (+41 p.p.) and Myanmar (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (-3.1 p.p.), Singapore (-8.6 p.p.) and Indonesia (-29.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Malaysia ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, together accounting for 76% of total imports. These countries were followed by Thailand, Indonesia and Myanmar, which together accounted for a further 19%.

Myanmar, with a CAGR of +22.7%, 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 unit in 2022, shrinking by -20.1% against the previous year. Over the period under review, the import price recorded a perceptible downturn. The pace of growth was the most pronounced in 2020 an increase of 22% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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