Asia: Fats Preparation Machinery Market 2024

Fats Preparation Machinery Market Size in Asia

The Asian fats preparation machinery market contracted to $X in 2022, waning by -8.3% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -17.9% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Fats Preparation Machinery Production in Asia

In value terms, fats preparation machinery production dropped to $X in 2022 estimated in export price. Overall, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 79% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Fats Preparation Machinery Exports

Exports in Asia

In 2022, overseas shipments of machinery for the extraction or preparation of animal or fixed vegetable fats or oils increased by 80% to X units, rising for the sixth consecutive year after two years of decline. Overall, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fats preparation machinery exports soared to $X in 2022. The total export value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X units) and China (X units) dominates exports structure, together mixing up 90% of total exports. It was distantly followed by Malaysia (X units), constituting a 5.4% share of total exports. Singapore (X units) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +32.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest fats preparation machinery supplying countries in Asia were China ($X), Malaysia ($X) and India ($X), together comprising 87% of total exports.

In terms of the main exporting countries, China, with a CAGR of +16.7%, saw the highest rates of growth with regard to 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, declining by -22.6% against the previous year. Over the period under review, the export price recorded a deep reduction. The pace of growth was the most pronounced in 2019 an increase of 11%. The level of export peaked at $X per unit in 2012; however, from 2013 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 Malaysia ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+12.1%), while the other leaders experienced a decline in the export price figures.

Fats Preparation Machinery Imports

Imports in Asia

After four years of growth, purchases abroad of machinery for the extraction or preparation of animal or fixed vegetable fats or oils decreased by -83.6% to X units in 2022. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 978% against the previous year. As a result, imports attained the peak of X units, and then shrank dramatically in the following year.

In value terms, fats preparation machinery imports skyrocketed to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +102.6% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand was the largest importing country with an import of about X units, which accounted for 61% of total imports. India (X units) held the second position in the ranking, followed by Indonesia (X units). All these countries together held approx. 23% share of total imports. The following importers - the Philippines (X units), the United Arab Emirates (X units) and Myanmar (X units) - together made up 8.3% of total imports.

Imports into Thailand increased at an average annual rate of +36.3% from 2012 to 2022. At the same time, Myanmar (+73.1%), the United Arab Emirates (+27.4%), the Philippines (+25.9%), India (+25.8%) and Indonesia (+3.4%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia, with a CAGR of +73.1% from 2012-2022. While the share of Thailand (+61 p.p.), India (+4.1 p.p.) and Myanmar (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-40.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported machinery for the extraction or preparation of animal or fixed vegetable fats or oils in Asia, comprising 50% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 4.7% share of total imports. It was followed by India, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia was relatively modest. In the other countries, the average annual rates were as follows: the United Arab Emirates (+27.2% per year) and India (+0.9% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, rising by 739% against the previous year. In general, the import price, however, continues to indicate a deep contraction. Over the period under review, import prices reached the peak figure at $X per unit in 2013; however, from 2014 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 Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+19.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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