Asia: Grinding Machine Market 2024

Grinding Machine Market Size in Asia

The Asian grinding machine market amounted to $X in 2021, increasing by 2.9% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.7% against 2015 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Grinding Machine Production in Asia

In value terms, grinding machine production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2020, and then reduced in the following year.

Grinding Machine Exports

Exports in Asia

In 2021, exports of machines having individual functions, for mixing, kneading, crushing or grinding in Asia rose significantly to X units, picking up by 11% on 2020 figures. Total exports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 17%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, grinding machine exports surged to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 30%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

China was the main exporter of machines having individual functions, for mixing, kneading, crushing or grinding in Asia, with the volume of exports accounting for X units, which was near 58% of total exports in 2021. Taiwan (Chinese) (X units) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (10%), Japan (4.9%) and South Korea (4.9%). Singapore (X units) and India (X units) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to grinding machine exports from China stood at +15.1%. At the same time, Turkey (+17.5%), India (+16.5%) and Singapore (+14.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +17.5% from 2012-2021. By contrast, Japan (-6.1%), Taiwan (Chinese) (-7.4%) and South Korea (-8.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Turkey, Singapore and India increased by +33, +6.7, +2 and +1.7 percentage points, respectively.

In value terms, China ($X) remains the largest grinding machine supplier in Asia, comprising 49% of total exports. The second position in the ranking was taken by South Korea ($X), with a 19% share of total exports. It was followed by Japan, with a 9% share.

In China, grinding machine exports expanded at an average annual rate of +10.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+13.8% per year) and Japan (-5.1% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, picking up by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2018 an increase of 12% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+24.9%), while the other leaders experienced more modest paces of growth.

Grinding Machine Imports

Imports in Asia

In 2021, approx. X units of machines having individual functions, for mixing, kneading, crushing or grinding were imported in Asia; picking up by 48% on the previous year's figure. Overall, imports saw a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, grinding machine imports soared to $X in 2021. The total import value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X units) represented the largest importer of machines having individual functions, for mixing, kneading, crushing or grinding, creating 48% of total imports. Japan (X units) ranks second in terms of the total imports with a 10% share, followed by Thailand (7.7%) and South Korea (5.3%). Turkey (X units), Taiwan (Chinese) (X units), Singapore (X units), Vietnam (X units), India (X units), Malaysia (X units), the United Arab Emirates (X units) and China (X units) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to grinding machine imports into Indonesia stood at +23.0%. At the same time, Singapore (+33.7%), India (+14.8%), Taiwan (Chinese) (+12.3%), Turkey (+6.8%), China (+6.7%), Japan (+6.6%), Vietnam (+6.6%), Thailand (+3.7%) and South Korea (+3.2%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in Asia, with a CAGR of +33.7% from 2012-2021. The United Arab Emirates and Malaysia experienced a relatively flat trend pattern. While the share of Indonesia (+28 p.p.) and Singapore (+3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Turkey (-2 p.p.), the United Arab Emirates (-2.3 p.p.), Malaysia (-2.6 p.p.), Japan (-4.9 p.p.), South Korea (-5.2 p.p.) and Thailand (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported machines having individual functions, for mixing, kneading, crushing or grinding in Asia, comprising 28% of total imports. The second position in the ranking was held by Indonesia ($X), with a 14% share of total imports. It was followed by South Korea, with a 7.8% share.

In China, grinding machine imports increased at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (+10.6% per year) and South Korea (+4.4% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, which is down by -17.3% against the previous year. In general, the import price continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 7%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+6.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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