South-Eastern Asia: Metal Washer Market 2024

Metal Washer Market Size in South-Eastern Asia

The Southeast Asian metal washer market expanded significantly to $X in 2021, picking up by 6.2% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Metal Washer Production in South-Eastern Asia

In value terms, metal washer production expanded markedly to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.5% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 48%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Metal Washer Exports

Exports in South-Eastern Asia

After two years of decline, overseas shipments of iron or steel washers increased by 122% to X tons in 2021. Total exports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal washer exports soared to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) and the Philippines (X tons) dominates exports structure, together constituting 82% of total exports. Malaysia (X tons) took the next position in the ranking, followed by Singapore (X tons). All these countries together took near 14% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Philippines (with a CAGR of +42.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest metal washer supplying countries in South-Eastern Asia were Vietnam ($X), Singapore ($X) and the Philippines ($X), together accounting for 84% of total exports.

The Philippines, with a CAGR of +22.1%, recorded the highest rates of growth with regard to 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

In 2021, the export price in South-Eastern Asia amounted to $X per ton, falling by -23.1% against the previous year. In general, the export price saw a perceptible reduction. The pace of growth was the most pronounced in 2013 an increase of 58%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+8.1%), while the other leaders experienced mixed trends in the export price figures.

Metal Washer Imports

Imports in South-Eastern Asia

In 2021, imports of iron or steel washers in South-Eastern Asia rose remarkably to X tons, surging by 13% against 2020 figures. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 19%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, metal washer imports skyrocketed to $X in 2021. Overall, imports, however, showed a abrupt shrinkage. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Thailand represented the major importer of iron or steel washers in South-Eastern Asia, with the volume of imports resulting at X tons, which was approx. 35% of total imports in 2021. It was distantly followed by Vietnam (X tons), Indonesia (X tons), Singapore (X tons), Malaysia (X tons) and Myanmar (X tons), together achieving a 60% share of total imports. The Philippines (X tons) held a relatively small share of total imports.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of iron or steel washers. At the same time, Myanmar (+24.9%), Vietnam (+9.7%), the Philippines (+7.9%) and Singapore (+4.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +24.9% from 2012-2021. Malaysia experienced a relatively flat trend pattern. By contrast, Indonesia (-1.8%) illustrated a downward trend over the same period. Vietnam (+7.3 p.p.) and Myanmar (+5.5 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Thailand and Indonesia saw its share reduced by -3.4%, -5.6% and -6.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal washer importing markets in South-Eastern Asia were Indonesia ($X), Vietnam ($X) and Malaysia ($X), together accounting for 76% of total imports. These countries were followed by Singapore, the Philippines and Myanmar, which together accounted for a further 23%.

Myanmar, with a CAGR of +20.1%, 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

The import price in South-Eastern Asia stood at $X per ton in 2021, growing by 6.2% against the previous year. In general, the import price, however, showed a deep contraction. The growth pace was the most rapid in 2018 when the import price increased by 15% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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 Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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