South-Eastern Asia: Market for Glass Rear-View Mirrors For Vehicles 2023

Exports of Glass Rear-View Mirrors For Vehicles

Exports by Country

Thailand prevails in exports structure, resulting at X units, which was approx. 81% of total exports in 2022. Vietnam (X units) took a 9.5% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (4.5%). The following exporters - Malaysia (X units) and Singapore (X units) - each amounted to a 4.5% share of total exports.

Exports from Thailand increased at an average annual rate of +6.8% from 2020 to 2022. At the same time, Singapore (+52.5%), Malaysia (+29.0%), Indonesia (+10.7%) and Vietnam (+9.5%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +52.5% from 2020-2022. While the share of Thailand (-2.2 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest glass rear-view vehicle mirror supplier in South-Eastern Asia, comprising 80% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 9.1% share of total exports. It was followed by Indonesia, with a 6.8% share.

From 2020 to 2022, the average annual rate of growth in terms of value in Thailand stood at +10.5%. In the other countries, the average annual rates were as follows: Vietnam (+10.4% per year) and Indonesia (+41.9% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, picking up by 6.2% against the previous year. Over the last two years, it increased at an average annual rate of +4.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Indonesia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+28.2%), while the other leaders experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports in South-Eastern Asia

In 2022, the amount of glass rear-view mirrors for vehicles imported in South-Eastern Asia shrank to X units, waning by -8.9% against 2021 figures. Overall, imports, however, posted a prominent increase. The growth pace was the most rapid in 2016 with an increase of 137%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, glass rear-view vehicle mirror imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Thailand (X units) represented the key importer of glass rear-view mirrors for vehicles, comprising 40% of total imports. Vietnam (X units) ranks second in terms of the total imports with a 24% share, followed by Indonesia (22%) and Malaysia (10%). The following importers - Singapore (X units) and the Philippines (X units) - each accounted for a 3.2% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +33.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, with a combined 87% share of total imports.

Vietnam, with a CAGR of +16.0%, recorded the highest rates of growth with regard to 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

The import price in South-Eastern Asia stood at $X per unit in 2022, increasing by 19% against the previous year. Overall, the import price, however, recorded a deep slump. The most prominent rate of growth was recorded in 2017 when the import price increased by 104%. The level of import peaked at $X per unit in 2012; however, from 2013 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 Indonesia ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-6.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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