Asia: Sails Market 2024

Sails Market Size in Asia

The Asian sails market totaled $X in 2023, surging by X% against the previous year. The total consumption indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Sails Production in Asia

In value terms, sails production amounted to $X in 2023 estimated in export price. The total production indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

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Sails Exports

Exports in Asia

In 2023, after two years of growth, there was significant decline in overseas shipments of sails, when their volume decreased by X% to X tons. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2022, and then reduced dramatically in the following year.

In value terms, sails exports shrank to $X in 2023. Total exports indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then shrank in the following year.

Exports by Country

The Philippines (X tons) and Sri Lanka (X tons) represented roughly X% of total exports in 2023. It was distantly followed by China (X tons), constituting an X% share of total exports. Turkey (X tons), Thailand (X tons) and Hong Kong SAR (X tons) took a relatively small share of total exports.

From 2012 to 2023, the biggest increases were recorded for Turkey (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($X) remains the largest sails supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with an X% share of total exports. It was followed by Turkey, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Sri Lanka totaled X%. In the other countries, the average annual rates were as follows: China (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, with an increase of X% against the previous year. Export price indicated noticeable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Sails Imports

Imports in Asia

In 2023, the amount of sails imported in Asia fell to X tons, waning by X% on 2022 figures. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, sails imports reduced modestly to $X in 2023. Overall, imports saw a noticeable curtailment. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Hong Kong SAR represented the largest importer of sails in Asia, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2023. The United Arab Emirates (X tons) ranks second in terms of the total imports with an X% share, followed by China (X%), Oman (X%) and Thailand (X%). Japan (X tons), Israel (X tons), Vietnam (X tons), Bahrain (X tons), Malaysia (X tons), South Korea (X tons), Lao People's Democratic Republic (X tons) and Turkey (X tons) took a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to sails imports into Hong Kong SAR stood at X%. At the same time, Bahrain (X%), Thailand (X%), Lao People's Democratic Republic (X%), Vietnam (X%), China (X%), South Korea (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Oman and Malaysia experienced a relatively flat trend pattern. By contrast, Israel (X%), Japan (X%) and Turkey (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Hong Kong SAR, China, the United Arab Emirates, Oman, Thailand, Vietnam, Israel, Japan, Bahrain, Malaysia, Lao People's Democratic Republic and South Korea increased by X, X, X, X, X, X, X, X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported sails in Asia, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

In China, sails imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, surging by X% against the previous year. Overall, the import price posted a resilient expansion. The pace of growth was the most pronounced in 2020 when the import price increased by X%. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform