Asia: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Asia

In 2021, the Asian conveyor or transmission belt market decreased by -2.1% to $X, falling for the second year in a row after five years of growth. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Asia

In value terms, conveyor or transmission belt production expanded slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 15% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in Asia

In 2021, overseas shipments of conveyor or transmission belts or belting were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +4.3% 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 2017 with an increase of 29%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, conveyor or transmission belt exports surged to $X in 2021. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor 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

China dominates exports structure, reaching X tons, which was approx. 72% of total exports in 2021. Turkey (X tons) held the second position in the ranking, followed by India (X tons). All these countries together held near 13% share of total exports. Taiwan (Chinese) (X tons), Japan (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to conveyor or transmission belt exports from China stood at +5.7%. At the same time, Turkey (+14.3%), India (+3.1%) and Thailand (+2.3%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +14.3% from 2012-2021. By contrast, Taiwan (Chinese) (-3.3%) and Japan (-7.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Turkey increased by +8.5 and +4.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest conveyor or transmission belt supplier in Asia, comprising 49% of total exports. The second position in the ranking was taken by Japan ($X), with a 16% share of total exports. It was followed by India, with a 6.7% share.

In China, conveyor or transmission belt exports increased at an average annual rate of +4.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-4.4% per year) and India (+3.2% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 8.4% against the previous year. Over the period under review, the export price, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2016 when the export price increased by 9% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.8%), while the other leaders experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports in Asia

In 2021, approx. X tons of conveyor or transmission belts or belting were imported in Asia; with an increase of 14% on 2020. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, conveyor or transmission belt imports surged to $X in 2021. The total import value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons), Indonesia (X tons), India (X tons), China (X tons), Vietnam (X tons), Japan (X tons), Kazakhstan (X tons), Iran (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Thailand (X tons) and Turkey (X tons) was the largest importer of conveyor or transmission belts or belting in Asia, making up 76% of total import. Malaysia (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +8.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, with a combined 29% share of total imports. These countries were followed by Indonesia, India, the United Arab Emirates, Vietnam, Thailand, Japan, Iran, Kazakhstan, Saudi Arabia and Malaysia, which together accounted for a further 47%.

Among the main importing countries, Vietnam, with a CAGR of +5.8%, saw the highest growth rate of 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

The import price in Asia stood at $X per ton in 2021, rising by 4.4% against the previous year. Over the period under review, the import price, however, showed a mild setback. The growth pace was the most rapid in 2016 when the import price increased by 6%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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