Asia: Radiator Market 2023

Radiator Market Size in Asia

The Asian radiator market shrank to $X in 2022, which is down by -11.4% against the previous year. In general, consumption, however, posted a resilient expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Radiator Production in Asia

In value terms, radiator production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed a measured increase. The most prominent rate of growth was recorded in 2018 with an increase of 31%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Radiator Exports

Exports in Asia

In 2022, the amount of radiators for central heating (not electrically heated) exported in Asia declined markedly to X tons, shrinking by -23.5% compared with the year before. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 16%. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, radiator exports contracted rapidly to $X in 2022. Total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +22.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. As a result, the exports attained the peak of $X, and then declined sharply in the following year.

Exports by Country

Turkey was the main exporter of radiators for central heating (not electrically heated) in Asia, with the volume of exports recording X tons, which was near 79% of total exports in 2022. It was distantly followed by China (X tons), achieving a 17% share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of radiators for central heating (not electrically heated). China experienced a relatively flat trend pattern. While the share of Turkey (-2 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest radiator supplier in Asia, comprising 77% of total exports. The second position in the ranking was taken by China ($X), with a 19% share of total exports.

In Turkey, radiator exports expanded at an average annual rate of +1.5% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, surging by 9.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2021 when the export price increased by 26% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%).

Radiator Imports

Imports in Asia

In 2022, imports of radiators for central heating (not electrically heated) in Asia fell remarkably to X tons, waning by -33.5% compared with the year before. In general, imports showed a perceptible slump. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, radiator imports fell sharply to $X in 2022. Overall, imports showed a perceptible slump. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the five major importers of radiators for central heating (not electrically heated), namely China, Uzbekistan, Kazakhstan, Georgia and Mongolia, represented more than two-thirds of total import. Singapore (X tons), Azerbaijan (X tons), Armenia (X tons), Turkey (X tons), Japan (X tons), Afghanistan (X tons) and Iran (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +21.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest radiator importing markets in Asia were China ($X), Uzbekistan ($X) and Kazakhstan ($X), together accounting for 37% of total imports.

Uzbekistan, with a CAGR of +33.6%, recorded 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

In 2022, the import price in Asia amounted to $X per ton, picking up by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Turkey ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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