Asia: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in Asia

In 2021, after three years of decline, there was growth in the Asian agricultural product dryer market, when its value increased by 1.5% to $X. Over the period under review, consumption, however, saw a mild descent. The most prominent rate of growth was recorded in 2017 with an increase of 7.7% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Agricultural Product Dryer Production in Asia

In value terms, agricultural product dryer production reduced to $X in 2021 estimated in export price. Over the period under review, production showed a slight reduction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 17% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Agricultural Product Dryer Exports

Exports in Asia

In 2021, agricultural product dryer exports in Asia skyrocketed to X units, jumping by 24% against the previous year. Total exports indicated a prominent expansion from 2012 to 2021: its volume 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. Based on 2021 figures, exports increased by +19.6% against 2018 indices. The pace of growth was the most pronounced in 2018 when exports increased by 39% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, agricultural product dryer exports expanded markedly to $X in 2021. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 23%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X units) represented the largest exporter of dryers for the treatment of agricultural products, generating 60% of total exports. Taiwan (Chinese) (X units) took the second position in the ranking, followed by India (X units) and Turkey (X units). All these countries together held near 26% share of total exports. South Korea (X units), Malaysia (X units) and the Philippines (X units) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to agricultural product dryer exports from China stood at +6.9%. At the same time, the Philippines (+66.3%), India (+33.9%), Taiwan (Chinese) (+13.8%) and Turkey (+13.0%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +66.3% from 2012-2021. By contrast, South Korea (-1.2%) and Malaysia (-4.9%) illustrated a downward trend over the same period. While the share of India (+7.7 p.p.), Taiwan (Chinese) (+5.8 p.p.), the Philippines (+2 p.p.) and Turkey (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-3.3 p.p.) and Malaysia (-5.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest agricultural product dryer supplying countries in Asia were China ($X), Taiwan (Chinese) ($X) and India ($X), with a combined 72% share of total exports. These countries were followed by Turkey, South Korea, Malaysia and the Philippines, which together accounted for a further 22%.

Among the main exporting countries, the Philippines, with a CAGR of +41.2%, recorded 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

The export price in Asia stood at $X per unit in 2021, with a decrease of -10.4% against the previous year. Over the period under review, the export price saw a perceptible curtailment. The growth pace was the most rapid in 2016 when the export price increased by 28%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the export prices remained 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 South Korea ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.2%), while the other leaders experienced a decline in the export price figures.

Agricultural Product Dryer Imports

Imports in Asia

In 2021, the amount of dryers for the treatment of agricultural products imported in Asia stood at X units, picking up by 15% against the previous year. Over the period under review, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2016 when imports increased by 158% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, agricultural product dryer imports expanded sharply to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 37%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Philippines prevails in imports structure, accounting for X units, which was near 55% of total imports in 2021. Vietnam (X units) held a 7.7% share (based on physical terms) of total imports, which put it in second place, followed by Japan (4.6%). Bangladesh (X units), Indonesia (X units), Lebanon (X units), Malaysia (X units), Turkey (X units), India (X units) and China (X units) followed a long way behind the leaders.

Imports into the Philippines increased at an average annual rate of +26.9% from 2012 to 2021. At the same time, Lebanon (+89.7%), Japan (+45.6%), Vietnam (+42.3%), Turkey (+19.3%), Bangladesh (+17.2%), Malaysia (+13.2%) and China (+2.8%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing importer imported in Asia, with a CAGR of +89.7% from 2012-2021. India experienced a relatively flat trend pattern. By contrast, Indonesia (-10.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Philippines, Vietnam, Japan, Lebanon and Bangladesh increased by +39, +6.9, +4.2, +3.5 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Turkey ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 38% of total imports. The Philippines, Vietnam, Bangladesh, India, Japan, Malaysia and Lebanon lagged somewhat behind, together comprising a further 27%.

Lebanon, with a CAGR of +88.1%, recorded the highest rates of growth with regard to 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

The import price in Asia stood at $X per unit in 2021, approximately mirroring the previous year. Overall, the import price faced a drastic downturn. The pace of growth appeared the most rapid in 2017 when the import price increased by 79%. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 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 China ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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