ASEAN: Grinding Machine Market 2024

Grinding Machine Market Size in ASEAN

In 2021, the ASEAN grinding machine market increased by 50% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption enjoyed a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Grinding Machine Production in ASEAN

In value terms, grinding machine production shrank remarkably to $X in 2021 estimated in export price. In general, production showed a noticeable decline. The most prominent rate of growth was recorded in 2015 with an increase of 425%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Grinding Machine Exports

Exports in ASEAN

In 2021, the amount of machines having individual functions, for mixing, kneading, crushing or grinding exported in ASEAN surged to X units, with an increase of 100% compared with the previous year's figure. In general, exports posted resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 133% against the previous year. The volume of export peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, grinding machine exports surged to $X in 2021. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern 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 represented the main exporting country with an export of about X units, which amounted to 66% of total exports. Malaysia (X units) ranks second in terms of the total exports with a 17% share, followed by Thailand (9.5%). Vietnam (X units) and Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to grinding machine exports from Singapore stood at +14.2%. At the same time, Malaysia (+19.0%) and Vietnam (+18.0%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +19.0% from 2012-2021. By contrast, Thailand (-1.2%) and Indonesia (-14.5%) illustrated a downward trend over the same period. While the share of Singapore (+21 p.p.), Malaysia (+9.1 p.p.) and Vietnam (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-14.2 p.p.) and Indonesia (-19 p.p.) displayed negative dynamics.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2021, with a combined 96% share of total exports. Vietnam and Indonesia lagged somewhat behind, together comprising a further 3.8%.

Vietnam, with a CAGR of +17.8%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, with a decrease of -32% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 an increase of 101%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.5%), while the other leaders experienced a decline in the export price figures.

Grinding Machine Imports

Imports in ASEAN

In 2021, the amount of machines having individual functions, for mixing, kneading, crushing or grinding imported in ASEAN soared to X units, picking up by 68% compared with 2020 figures. In general, imports showed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, grinding machine imports skyrocketed to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia represented the key importing country with an import of around X units, which recorded 74% of total imports. Thailand (X units) ranks second in terms of the total imports with a 12% share, followed by Singapore (5.8%) and Vietnam (4.7%). Malaysia (X units) held a minor share of total imports.

Imports into Indonesia increased at an average annual rate of +23.0% from 2012 to 2021. At the same time, Singapore (+33.7%), Vietnam (+6.6%) and Thailand (+3.7%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +33.7% from 2012-2021. Malaysia experienced a relatively flat trend pattern. While the share of Indonesia (+30 p.p.) and Singapore (+4.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Vietnam (-5.5 p.p.), Malaysia (-7.1 p.p.) and Thailand (-21.2 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) constitutes the largest market for imported machines having individual functions, for mixing, kneading, crushing or grinding in ASEAN, comprising 42% of total imports. The second position in the ranking was held by Thailand ($X), with an 18% share of total imports. It was followed by Singapore, with a 16% share.

In Indonesia, grinding machine imports increased at an average annual rate of +10.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (-1.7% per year) and Singapore (+16.0% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, declining by -14.3% against the previous year. Overall, the import price showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 when the import price increased by 14% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+6.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform