Asia: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Asia

The Asian grinding and sharpening machine market rose slightly to $X in 2022, increasing by 4.9% against the previous year. Overall, consumption continues to indicate resilient growth. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Production of Grinding And Sharpening Metal Finishing Machines in Asia

In value terms, grinding and sharpening machine production amounted to $X in 2022 estimated in export price. In general, production saw a strong increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 45% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in Asia

After two years of growth, shipments abroad of grinding and sharpening metal finishing machines decreased by -19.4% to X units in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 44% against the previous year. As a result, the exports reached the peak of X units, and then dropped rapidly in the following year.

In value terms, grinding and sharpening machine exports shrank to $X in 2022. Over the period under review, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by 47%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, accounting for X units, which was approx. 85% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), mixing up a 5.8% share of total exports. India (X units), Japan (X units) and Singapore (X units) held a minor share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of grinding and sharpening metal finishing machines. At the same time, India (+13.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +13.4% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-4.7%) and Singapore (-5.1%) illustrated a downward trend over the same period. While the share of India (+3.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Taiwan (Chinese) ($X) and Japan ($X) were the countries with the highest levels of exports in 2022, with a combined 60% share of total exports. India and Singapore lagged somewhat behind, together accounting for a further 6.5%.

In terms of the main exporting countries, India, with a CAGR of +12.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, rising by 17% against the previous year. Over the period under review, the export price, however, showed a deep setback. The pace of growth appeared the most rapid in 2015 when the export price increased by 37%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, 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.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in Asia

In 2022, imports of grinding and sharpening metal finishing machines in Asia soared to X units, growing by 18% against the previous year. Total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.1% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 52%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, grinding and sharpening machine imports amounted to $X in 2022. In general, imports, however, showed a deep setback. The most prominent rate of growth was recorded in 2021 when imports increased by 20% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X units) and India (X units) were the largest importers of grinding and sharpening metal finishing machines in Asia, together generating 65% of total imports. Japan (X units), Indonesia (X units), South Korea (X units), Singapore (X units), Thailand (X units), Cyprus (X units), Kazakhstan (X units), the Philippines (X units) and Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +19.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), India ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, together comprising 38% of total imports. Japan, Thailand, Turkey, Singapore, Malaysia, the Philippines, Kazakhstan and Cyprus lagged somewhat behind, together accounting for a further 17%.

Cyprus, with a CAGR of +6.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, which is down by -12.9% against the previous year. In general, the import price faced a deep setback. The most prominent rate of growth was recorded in 2018 when the import price increased by 34%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Cyprus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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