Asia: Metal Honing Machine Market 2024

Metal Honing Machine Market Size in Asia

In 2021, the Asian metal honing machine market increased by 15% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Metal Honing Machine Production in Asia

In value terms, metal honing machine production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable setback. The pace of growth appeared the most rapid in 2018 when the production volume increased by 3.6% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Metal Honing Machine Exports

Exports in Asia

In 2021, exports of honing or lapping machines for working metal in Asia soared to X units, with an increase of 34% on the year before. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by 66%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, metal honing machine exports contracted to $X in 2021. In general, exports, however, saw a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 38% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Taiwan (Chinese) (X units) represented the main exporter of honing or lapping machines for working metal, committing 43% of total exports. It was distantly followed by Malaysia (X units) and China (X units), together constituting a 43% share of total exports. Indonesia (X units), Japan (X units) and India (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Indonesia (with a CAGR of +91.7%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the largest metal honing machine supplier in Asia, comprising 48% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 20% share of total exports. It was followed by China, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan totaled -9.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (-4.3% per year) and China (+11.8% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, with a decrease of -29.5% against the previous year. In general, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by 50% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+5.9%), while the other leaders experienced a decline in the export price figures.

Metal Honing Machine Imports

Imports in Asia

In 2021, purchases abroad of honing or lapping machines for working metal was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, imports showed a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 254% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal honing machine imports contracted to $X in 2021. Over the period under review, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 46%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Qatar (X units) and Thailand (X units) prevails in imports structure, together mixing up 85% of total imports. It was distantly followed by Singapore (X units), making up a 6.8% share of total imports. The Philippines (X units) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +58.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal honing machine importing markets in Asia were the Philippines ($X), Thailand ($X) and Singapore ($X), with a combined 23% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +37.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, falling by -63.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2017 when the import price increased by 101%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (-8.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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