Asia: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Asia

The Asian stone polishing machine market declined to $X in 2022, with a decrease of -6.4% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +49.6% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Stone Polishing Machine Production in Asia

In value terms, stone polishing machine production fell slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a slight reduction. The pace of growth was the most pronounced in 2013 when the production volume increased by 4% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Stone Polishing Machine Exports

Exports in Asia

Stone polishing machine exports surged to X units in 2022, with an increase of 16% against the previous year. Total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -5.4% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 42%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, stone polishing machine exports declined to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 36% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, China (X units) represented the main exporter of grinding or polishing machines for working stone, ceramics and concrete, achieving 48% of total exports. It was distantly followed by Japan (X units) and South Korea (X units), together constituting a 48% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +11.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X) remains the largest stone polishing machine supplier in Asia, comprising 65% of total exports. The second position in the ranking was held by South Korea ($X), with a 13% share of total exports.

In China, stone polishing machine exports increased at an average annual rate of +10.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+2.6% per year) and Japan (-12.5% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, which is down by -22.4% against the previous year. In general, the export price saw a noticeable setback. The most prominent rate of growth was recorded in 2021 when the export price increased by 49% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 China ($X per unit), while Japan ($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 (-1.0%), while the other leaders experienced a decline in the export price figures.

Stone Polishing Machine Imports

Imports in Asia

In 2022, the amount of grinding or polishing machines for working stone, ceramics and concrete imported in Asia shrank to X units, with a decrease of -7.2% compared with 2021. Over the period under review, imports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 134% against the previous year. As a result, imports reached the peak of X units, and then declined in the following year.

In value terms, stone polishing machine imports plummeted to $X in 2022. In general, imports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2017 when imports increased by 41% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X units) represented the key importer of grinding or polishing machines for working stone, ceramics and concrete, generating 71% of total imports. It was distantly followed by Thailand (X units), committing a 13% share of total imports. The following importers - Singapore (X units), Vietnam (X units) and China (X units) - each reached a 5% share of total imports.

India was also the fastest-growing in terms of the grinding or polishing machines for working stone, ceramics and concrete imports, with a CAGR of +39.1% from 2012 to 2022. At the same time, Vietnam (+15.5%), Singapore (+6.6%) and Thailand (+3.8%) displayed positive paces of growth. China experienced a relatively flat trend pattern. From 2012 to 2022, the share of India increased by +59 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported grinding or polishing machines for working stone, ceramics and concrete in Asia, comprising 41% of total imports. The second position in the ranking was held by India ($X), with a 10% share of total imports. It was followed by Vietnam, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at -5.8%. In the other countries, the average annual rates were as follows: India (+7.5% per year) and Vietnam (+13.8% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, shrinking by -15.8% against the previous year. In general, the import price faced a abrupt setback. The growth pace was the most rapid in 2014 an increase of 15%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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