South-Eastern Asia: Cutting Blade Market 2024

Cutting Blade Market Size in South-Eastern Asia

The Southeast Asian cutting blade market soared to $X in 2021, rising by 21% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Cutting Blade Production in South-Eastern Asia

In value terms, cutting blade production declined modestly to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2019 when the production volume increased by 73%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Cutting Blade Exports

Exports in South-Eastern Asia

In 2021, the amount of knives and cutting blades (for machines or for mechanical appliances) exported in South-Eastern Asia expanded to X tons, surging by 1.7% against the previous year's figure. Total exports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +7.4% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by 47% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, cutting blade exports dropped to $X in 2021. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 41%. Over the period under review, the exports hit record highs at $X in 2020, and then declined in the following year.

Exports by Country

Thailand (X tons) and Indonesia (X tons) represented roughly 64% of total exports in 2021. Malaysia (X tons) ranks next in terms of the total exports with a 14% share, followed by Vietnam (12%) and Singapore (8.6%). The Philippines (X tons) took a minor share of total exports.

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 +33.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest cutting blade supplying countries in South-Eastern Asia were Vietnam ($X), Singapore ($X) and Thailand ($X), with a combined 74% share of total exports. These countries were followed by Indonesia, Malaysia and the Philippines, which together accounted for a further 26%.

In terms of the main exporting countries, the Philippines, with a CAGR of +45.9%, saw 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 ton in 2021, which is down by -12.3% against the previous year. Over the period under review, the export price saw a pronounced slump. The most prominent rate of growth was recorded in 2019 when the export price increased by 15%. Over the period under review, the export prices hit record highs 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, the country with the highest price was the Philippines ($X per ton), while Indonesia ($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 (+9.7%), while the other leaders experienced mixed trends in the export price figures.

Cutting Blade Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of knives and cutting blades (for machines or for mechanical appliances) increased by 36% to X tons for the first time since 2017, thus ending a three-year declining trend. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 43% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, cutting blade imports surged to $X in 2021. Total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 31%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by Indonesia (X tons), Thailand (X tons) and Malaysia (X tons) were the main importers of knives and cutting blades (for machines or for mechanical appliances), together creating 91% of total imports. The Philippines (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +12.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported knives and cutting blades (for machines or for mechanical appliances) in South-Eastern Asia, comprising 48% of total imports. The second position in the ranking was held by Thailand ($X), with a 16% share of total imports. It was followed by Indonesia, with a 13% share.

In Vietnam, cutting blade imports expanded at an average annual rate of +11.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+2.7% per year) and Indonesia (+1.0% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, dropping by -11.9% against the previous year. Over the period under review, the import price recorded a pronounced decline. The most prominent rate of growth was recorded in 2018 an increase of 3.8%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: 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 (+18.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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