Asia: Clutch Market 2024

Clutch Market Size in Asia

In 2022, the Asian clutch market decreased by -2.3% to $X, falling for the second consecutive year after nine years of growth. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.4% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Clutch Production in Asia

In value terms, clutch production reduced modestly to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +2.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 21% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Clutch Exports

Exports in Asia

In 2022, shipments abroad of clutches increased by 3.3% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, clutch exports expanded to $X in 2022. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 28% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China was the largest exporter of clutches in Asia, with the volume of exports reaching X tons, which was near 45% of total exports in 2022. Japan (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (15%) and Turkey (8.1%). India (X tons), Indonesia (X tons) and Thailand (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +5.5% from 2012 to 2022. At the same time, India (+10.2%), Indonesia (+4.9%), Turkey (+4.8%), South Korea (+4.0%), Thailand (+2.2%) and Japan (+2.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +10.2% from 2012-2022. While the share of China (+5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest clutch supplying countries in Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 77% share of total exports. Turkey, Thailand, India and Indonesia lagged somewhat behind, together comprising a further 17%.

In terms of the main exporting countries, India, with a CAGR of +15.2%, saw the highest rates of growth with regard to 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 Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 7.1% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.5%), while the other leaders experienced more modest paces of growth.

Clutch Imports

Imports in Asia

In 2022, the amount of clutches imported in Asia shrank modestly to X tons, which is down by -5% compared with the previous year. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 23%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, clutch imports fell to $X in 2022. The total import value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 23%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), Turkey (X tons), the United Arab Emirates (X tons), Japan (X tons), Thailand (X tons), India (X tons) and Indonesia (X tons) was the key importer of clutches in Asia, constituting 74% of total import. Iran (X tons), South Korea (X tons), Iraq (X tons), Malaysia (X tons) and Vietnam (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +10.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported clutches in Asia, comprising 29% of total imports. The second position in the ranking was held by Turkey ($X), with a 12% share of total imports. It was followed by Japan, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +6.6%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+4.3% per year) and Japan (+0.3% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, declining by -1.8% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 7.3% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 China ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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