South-Eastern Asia: Safety Headgear Market 2024

Safety Headgear Market Size in South-Eastern Asia

The Southeast Asian safety headgear market rose modestly to $X in 2021, increasing by 2% against the previous year. The market value increased at an average annual rate of +2.4% 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 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Safety Headgear Production in South-Eastern Asia

In value terms, safety headgear production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the production volume increased by 35% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Safety Headgear Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of safety headgear decreased by -23.9% to X units for the first time since 2017, thus ending a three-year rising trend. In general, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 49% against the previous year. The volume of export peaked at X units in 2020, and then reduced remarkably in the following year.

In value terms, safety headgear exports contracted modestly to $X in 2021. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 39%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Vietnam (X units) and Thailand (X units) represented the main exporters of safety headgear in South-Eastern Asia, together resulting at approx. 71% of total exports. Malaysia (X units) held the next position in the ranking, distantly followed by Indonesia (X units). All these countries together held approx. 26% share of total exports. Singapore (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +18.3%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest safety headgear supplier in South-Eastern Asia, comprising 57% of total exports. The second position in the ranking was taken by Thailand ($X), with a 21% share of total exports. It was followed by Indonesia, with a 14% share.

In Vietnam, safety headgear exports expanded at an average annual rate of +17.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+1.1% per year) and Indonesia (+13.0% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, growing by 28% against the previous year. Overall, the export price saw a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+4.9%), while the other leaders experienced mixed trends in the export price figures.

Safety Headgear Imports

Imports in South-Eastern Asia

In 2021, approx. X units of safety headgear were imported in South-Eastern Asia; growing by 17% on 2020 figures. Over the period under review, imports showed a strong increase. The pace of growth appeared the most rapid in 2016 when imports increased by 41% against the previous year. The volume of import peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, safety headgear imports soared to $X in 2021. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 65%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

In 2021, the Philippines (X units) represented the major importer of safety headgear, committing 60% of total imports. Singapore (X units) ranks second in terms of the total imports with a 10% share, followed by Thailand (9.2%), Indonesia (6.6%), Vietnam (6%) and Malaysia (5%). Cambodia (X units) followed a long way behind the leaders.

Imports into the Philippines increased at an average annual rate of +21.0% from 2012 to 2021. At the same time, Malaysia (+29.5%), Thailand (+27.2%), Vietnam (+25.3%), Cambodia (+6.8%), Indonesia (+4.9%) and Singapore (+4.7%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +29.5% from 2012-2021. While the share of the Philippines (+18 p.p.), Thailand (+5.1 p.p.), Malaysia (+3.1 p.p.) and Vietnam (+3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cambodia (-1.8 p.p.), Indonesia (-10 p.p.) and Singapore (-16 p.p.) displayed negative dynamics.

In value terms, the Philippines ($X), Singapore ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 65% of total imports.

Among the main importing countries, the Philippines, with a CAGR of +21.5%, recorded the highest rates of growth with regard to the value of imports, 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 unit, increasing by 7.3% against the previous year. In general, the import price, however, continues to indicate a slight setback. The pace of growth appeared the most rapid in 2014 an increase of 37% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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