ASEAN: Stone Polishing Machine Market 2025

Stone Polishing Machine Market Size in ASEAN

In 2022, the ASEAN stone polishing machine market was finally on the rise to reach $X after two years of decline. Overall, consumption recorded a pronounced increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Stone Polishing Machine Production in ASEAN

In value terms, stone polishing machine production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by 15%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Stone Polishing Machine Exports

Exports in ASEAN

In 2022, exports of grinding or polishing machines for working stone, ceramics and concrete in ASEAN declined dramatically to X units, with a decrease of -29.9% against the year before. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 90%. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, stone polishing machine exports contracted to $X in 2022. Overall, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 53% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore dominates exports structure, accounting for X units, which was near 89% of total exports in 2022. It was distantly followed by Thailand (X units), achieving a 5.7% share of total exports. Vietnam (X units) held a relatively small share of total exports.

Exports from Singapore decreased at an average annual rate of -7.4% from 2012 to 2022. Vietnam (-4.3%) and Thailand (-8.6%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest stone polishing machine supplier in ASEAN, comprising 95% of total exports. The second position in the ranking was held by Vietnam ($X), with a 2.6% share of total exports.

In Singapore, stone polishing machine exports declined by an average annual rate of -8.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (-2.4% per year) and Thailand (-23.9% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, jumping by 22% against the previous year. Over the period under review, the export price, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2020 an increase of 114% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the export prices failed to regain momentum.

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 Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.0%), while the other leaders experienced a decline in the export price figures.

Stone Polishing Machine Imports

Imports in ASEAN

In 2022, the amount of grinding or polishing machines for working stone, ceramics and concrete imported in ASEAN was estimated at X units, increasing by 6.7% on 2021. In general, imports enjoyed tangible growth. The most prominent rate of growth was recorded in 2017 when imports increased by 98% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, stone polishing machine imports expanded sharply to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 110%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Thailand prevails in imports structure, accounting for X units, which was approx. 67% of total imports in 2022. Singapore (X units) held the second position in the ranking, followed by Vietnam (X units), Indonesia (X units) and the Philippines (X units). All these countries together took approx. 29% share of total imports. Malaysia (X units) held a minor share of total imports.

Imports into Thailand increased at an average annual rate of +3.8% from 2012 to 2022. At the same time, Indonesia (+15.6%), Vietnam (+15.5%), Singapore (+6.6%) and the Philippines (+2.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +15.6% from 2012-2022. By contrast, Malaysia (-4.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Indonesia and Singapore increased by +5.6, +3.6 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Indonesia ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, together accounting for 76% of total imports.

Indonesia, with a CAGR of +15.2%, saw the highest growth rate of 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

In 2022, the import price in ASEAN amounted to $X per unit, rising by 2.6% against the previous year. Overall, the import price, however, continues to indicate a deep setback. The pace of growth was the most pronounced in 2015 when the import price increased by 101% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Thailand ($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 (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform