Eastern Asia: Gloves Market 2024

Gloves Market Size in Eastern Asia

In 2022, after two years of growth, there was significant decline in the East Asian gloves market, when its value decreased by X% to $X. Overall, consumption, however, enjoyed a remarkable increase. The level of consumption peaked at $X in 2021, and then contracted significantly in the following year.

Gloves Production in Eastern Asia

In value terms, gloves production skyrocketed to $X in 2022 estimated in export price. In general, production, however, recorded strong growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Gloves Exports

Exports in Eastern Asia

In 2022, overseas shipments of gloves, mittens and mitts (excluding knitted or crocheted) increased by X% to X pairs, rising for the fifth year in a row after three years of decline. In general, exports showed a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, gloves exports surged to $X in 2022. The total export value increased at an average annual rate of X% 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 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of gloves, mittens and mitts (excluding knitted or crocheted), namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the gloves, mittens and mitts (excluding knitted or crocheted) exports, with a CAGR of X% from 2012 to 2022. China (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest gloves supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China totaled X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per pair in 2022, waning by X% against the previous year. In general, the export price faced a abrupt decrease. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per pair in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Gloves Imports

Imports in Eastern Asia

In 2022, purchases abroad of gloves, mittens and mitts (excluding knitted or crocheted) increased by X% to X pairs, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a mild slump. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X pairs in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, gloves imports soared to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X pairs), South Korea (X pairs) and China (X pairs) was the key importer of gloves, mittens and mitts (excluding knitted or crocheted) in Eastern Asia, constituting X% of total import. Taiwan (Chinese) (X pairs) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (X%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Japan ($X) constitutes the largest market for imported gloves, mittens and mitts (excluding knitted or crocheted) in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and China (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per pair in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per pair. From 2019 to 2022, the import prices remained 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 Japan ($X per pair), while China ($X per pair) was amongst the lowest.

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

Source: IndexBox Platform

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