ASEAN: Hairpin Market 2024

Hairpin Market Size in ASEAN

The ASEAN hairpin market soared to $X in 2022, with an increase of X% against the previous year. Overall, consumption recorded a perceptible expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Hairpin Production in ASEAN

In value terms, hairpin production contracted to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Hairpin Exports

Exports in ASEAN

Hairpin exports totaled X tons in 2022, flattening at the previous year. Over the period under review, exports, however, saw a drastic downturn. The growth pace was the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, hairpin exports shrank sharply to $X in 2022. In general, exports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand represented the major exporting country with an export of around X tons, which accounted for X% of total exports. It was distantly followed by Vietnam (X tons), comprising a X% share of total exports. The following exporters - Singapore (X tons), Malaysia (X tons) and Lao People's Democratic Republic (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to hairpin exports from Thailand stood at X%. At the same time, Lao People's Democratic Republic (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) and Malaysia (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Lao People's Democratic Republic (X p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Thailand saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hairpin supplying countries in ASEAN were Thailand ($X), Vietnam ($X) and Singapore ($X), with a combined X% share of total exports. Malaysia and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

Lao People's Democratic Republic, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price, however, continues to indicate a moderate expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, 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 Vietnam ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the export price figures.

Hairpin Imports

Imports in ASEAN

In 2022, imports of hairpins, curling pins, curling grips and hair-curlers in ASEAN skyrocketed to X tons, growing by X% compared with the previous year's figure. In general, imports recorded resilient growth. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, hairpin imports soared to $X in 2022. Over the period under review, imports showed resilient growth. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

The Philippines was the main importing country with an import of about X tons, which finished at X% of total imports. Thailand (X tons) ranks second in terms of the total imports with a X% share, followed by Indonesia (X%) and Myanmar (X%). Malaysia (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hairpin imports into the Philippines stood at X%. At the same time, Myanmar (X%), Indonesia (X%), Thailand (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the Philippines and Myanmar increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hairpin importing markets in ASEAN were the Philippines ($X), Thailand ($X) and Malaysia ($X), with a combined X% share of total imports. Indonesia and Myanmar lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Myanmar, with a CAGR of X%, recorded the highest growth rate of 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 2022, the import price in ASEAN amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price saw a pronounced decline. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform