ASEAN: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in ASEAN

In 2021, the ASEAN lathe for removing metal market decreased by -17.6% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption recorded a deep contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Lathes For Removing Metal in ASEAN

In value terms, lathe for removing metal production contracted notably to $X in 2021 estimated in export price. In general, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 266%. The level of production peaked at $X in 2020, and then fell markedly in the following year.

Exports of Lathes For Removing Metal

Exports in ASEAN

In 2021, the amount of lathes for removing metal exported in ASEAN soared to X units, jumping by 36% against the year before. Total exports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lathe for removing metal exports skyrocketed to $X in 2021. Total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X units) and Thailand (X units) prevails in exports structure, together committing 91% of total exports. The following exporters - the Philippines (X units) and Malaysia (X units) - each recorded a 7.6% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +25.8%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X) remains the largest lathe for removing metal supplier in ASEAN, comprising 77% of total exports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total exports. It was followed by the Philippines, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at +8.9%. In the other countries, the average annual rates were as follows: Singapore (-6.3% per year) and the Philippines (+14.7% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, rising by 47% against the previous year. Export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, 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 Thailand ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+24.8%), while the other leaders experienced a decline in the export price figures.

Imports of Lathes For Removing Metal

Imports in ASEAN

In 2021, approx. X units of lathes for removing metal were imported in ASEAN; jumping by 17% compared with the previous year's figure. Overall, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 20%. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, lathe for removing metal imports stood at $X in 2021. Over the period under review, imports, however, faced a abrupt downturn. The pace of growth was the most pronounced in 2018 with an increase of 19%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X units) and Malaysia (X units) represented the key importers of lathes for removing metal in ASEAN, together amounting to approx. 55% of total imports. Singapore (X units) took the next position in the ranking, followed by the Philippines (X units), Vietnam (X units) and Indonesia (X units). All these countries together took approx. 42% share of total imports. Lao People's Democratic Republic (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Lao People's Democratic Republic (with a CAGR of +18.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lathe for removing metal importing markets in ASEAN were Thailand ($X), Vietnam ($X) and Malaysia ($X), together accounting for 75% of total imports. These countries were followed by Indonesia, Singapore, the Philippines and Lao People's Democratic Republic, which together accounted for a further 24%.

Among the main importing countries, Lao People's Democratic Republic, with a CAGR of +15.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, reducing by -2.6% against the previous year. Overall, the import price showed a perceptible decline. The growth pace was the most rapid in 2013 when the import price increased by 17%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform