Asia: Abrasives Market 2024

Abrasives Market Size in Asia

After two years of decline, the Asian abrasives market increased by 4.6% to $X in 2021. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Abrasives Production in Asia

In value terms, abrasives production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by 33%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Abrasives Exports

Exports in Asia

Abrasives exports totaled X tons in 2021, growing by 9.8% compared with the previous year. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when exports increased by 27% against the previous year. The volume of export peaked at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, abrasives exports soared to $X in 2021. The total export value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when exports increased by 27% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Turkey was the main exporting country with an export of about X tons, which resulted at 48% of total exports. China (X tons) took the second position in the ranking, followed by Indonesia (X tons), India (X tons) and Japan (X tons). All these countries together took approx. 47% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to abrasives exports from Turkey stood at +13.9%. At the same time, China (+14.3%), Indonesia (+10.1%) and Japan (+6.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of +14.3% from 2012-2021. By contrast, India (-17.6%) illustrated a downward trend over the same period. Turkey (+30 p.p.), China (+12 p.p.), Indonesia (+6.2 p.p.) and Japan (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -52.7% from 2012 to 2021, respectively.

In value terms, the largest abrasives supplying countries in Asia were China ($X), Turkey ($X) and Japan ($X), with a combined 73% share of total exports.

Among the main exporting countries, China, with a CAGR of +20.1%, saw the highest growth rate of the value of exports, 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 Asia amounted to $X per ton, picking up by 9.5% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the other leaders experienced more modest paces of growth.

Abrasives Imports

Imports in Asia

In 2021, the amount of abrasives (natural) imported in Asia surged to X tons, with an increase of 18% against 2020. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 23%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, abrasives imports skyrocketed to $X in 2021. In general, imports showed a relatively flat trend pattern. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons), distantly followed by the United Arab Emirates (X tons), Bangladesh (X tons), Saudi Arabia (X tons) and South Korea (X tons) represented the main importers of abrasives (natural), together achieving 66% of total imports. The following importers - Indonesia (X tons), Malaysia (X tons), Thailand (X tons), Pakistan (X tons), Qatar (X tons), Israel (X tons), Japan (X tons) and Singapore (X tons) - together made up 21% of total imports.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +26.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 41% share of total imports. South Korea, Indonesia, Israel, Bangladesh, Thailand, Japan, Malaysia, Singapore, Qatar and Pakistan lagged somewhat behind, together accounting for a further 42%.

Pakistan, with a CAGR of +14.1%, recorded the highest growth rate of the value of imports, in terms of 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 2021, the import price in Asia amounted to $X per ton, with an increase of 3.8% against the previous year. Overall, the import price, however, recorded a mild descent. The most prominent rate of growth was recorded in 2014 when the import price increased by 4.7%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Israel ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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