South-Eastern Asia: Radiator Market 2023

Radiator Market Size in South-Eastern Asia

The Southeast Asian radiator market was estimated at $X in 2022, remaining constant against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Radiator Production in South-Eastern Asia

In value terms, radiator production reached $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 23% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Radiator Exports

Exports in South-Eastern Asia

Radiator exports expanded significantly to X tons in 2022, rising by 5.6% against 2021. Overall, exports, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 82%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, radiator exports surged to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 63%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Vietnam (X tons) and Malaysia (X tons) represented the main exporters of radiators for central heating (not electrically heated) in South-Eastern Asia, together resulting at approx. 78% of total exports. It was distantly followed by Singapore (X tons), mixing up an 18% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +101.3%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest radiator supplying countries in South-Eastern Asia were Vietnam ($X), Malaysia ($X) and Singapore ($X), with a combined 97% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +60.4%, 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 a decline in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, increasing by 9.4% against the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radiator export price increased by +40.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 80% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.9%), while the other leaders experienced more modest paces of growth.

Radiator Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of radiators for central heating (not electrically heated) were imported in South-Eastern Asia; waning by -10.6% against the previous year. Overall, imports saw a slight curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 108% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, radiator imports fell to $X in 2022. In general, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 92%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X tons) was the major importer of radiators for central heating (not electrically heated), achieving 74% of total imports. It was distantly followed by Thailand (X tons) and Indonesia (X tons), together achieving a 17% share of total imports. Vietnam (X tons), Malaysia (X tons) and the Philippines (X tons) held a relatively small share of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of radiators for central heating (not electrically heated). At the same time, Vietnam (+4.4%) and the Philippines (+1.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +4.4% from 2012-2022. By contrast, Thailand (-1.0%), Malaysia (-9.9%) and Indonesia (-12.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and Vietnam increased by +15 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported radiators for central heating (not electrically heated) in South-Eastern Asia, comprising 54% of total imports. The second position in the ranking was held by Thailand ($X), with a 23% share of total imports. It was followed by Indonesia, with a 17% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to +2.0%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (-8.0% per year) and Indonesia (-13.9% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, growing by 6.4% against the previous year. Over the period under review, the import price, however, recorded a noticeable shrinkage. The growth pace was the most rapid in 2017 when the import price increased by 51% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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