Malaysia: Smoothing Iron Market 2024

Smoothing Iron Market Size in Malaysia

In 2022, the Malaysian smoothing iron market increased by X% to $X, rising for the second year in a row after four years of decline. In general, the total consumption indicated a noticeable 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, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Smoothing Iron Production in Malaysia

In value terms, smoothing iron production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

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Smoothing Iron Exports

Exports from Malaysia

In 2022, shipments abroad of electric smoothing irons increased by X% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, showed a deep reduction. The pace of growth was the most pronounced in 2014 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, smoothing iron exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for smoothing iron exports from Malaysia, with a X% share of total exports. Moreover, smoothing iron exports to the United Arab Emirates exceeded the volume sent to the second major destination, Vietnam (X units), sevenfold. Indonesia (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for electric smoothing irons exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with an X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the average smoothing iron export price amounted to $X per unit, reducing by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Smoothing Iron Imports

Imports into Malaysia

In 2022, purchases abroad of electric smoothing irons was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. In general, total imports indicated a slight increase from 2012 to 2022: its volume 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. Over the period under review, imports reached the maximum at X units in 2015; afterwards, it flattened through to 2022.

In value terms, smoothing iron imports soared to $X in 2022. Overall, imports recorded buoyant growth. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of smoothing iron to Malaysia, accounting for a X% share of total imports. Moreover, smoothing iron imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest.

In value terms, Indonesia ($X) and China ($X) were the largest smoothing iron suppliers to Malaysia.

In terms of the main suppliers, Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average smoothing iron import price stood at $X per unit in 2022, picking up by X% against the previous year. In general, import price indicated buoyant growth from 2012 to 2022: its price 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, smoothing iron import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 when the average import price increased by X%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per unit), while the price for China amounted to $X per unit.

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

Source: IndexBox Platform

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