Asia-Pacific: Abrasives Market 2024

Abrasives Market Size in Asia-Pacific

The Asia-Pacific abrasives market amounted to $X in 2021, surging by 3.6% against the previous year. The market value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in years to come.

Abrasives Production in Asia-Pacific

In value terms, abrasives production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 30% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Abrasives Exports

Exports in Asia-Pacific

In 2021, approx. X tons of abrasives (natural) were exported in Asia-Pacific; growing by 13% on 2020. Overall, exports, however, continue to indicate a noticeable contraction. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, abrasives exports expanded significantly to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Australia (X tons) and China (X tons) represented the largest exporters of abrasives (natural) in Asia-Pacific, together generating 59% of total exports. Indonesia (X tons) ranks next in terms of the total exports with a 16% share, followed by India (12%) and Japan (9.6%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +14.3%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), China ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 78% of total exports.

In terms of the main exporting countries, China, with a CAGR of +20.1%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, surging by 1.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2020 when the export price increased by 9.7% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the other leaders experienced more modest paces of growth.

Abrasives Imports

Imports in Asia-Pacific

In 2021, abrasives imports in Asia-Pacific expanded significantly to X tons, with an increase of 14% compared with 2020. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 47% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, abrasives imports surged to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main importer of abrasives (natural), creating 36% of total imports. It was distantly followed by Bangladesh (X tons), South Korea (X tons), Indonesia (X tons) and Malaysia (X tons), together creating a 35% share of total imports. The following importers - Thailand (X tons), Pakistan (X tons), Australia (X tons), New Zealand (X tons), Japan (X tons), Singapore (X tons), Sri Lanka (X tons) and Taiwan (Chinese) (X tons) - together made up 24% of total imports.

From 2012 to 2021, average annual rates of growth with regard to abrasives imports into China stood at +10.8%. At the same time, Pakistan (+26.5%), Bangladesh (+20.3%), Sri Lanka (+19.4%), New Zealand (+4.8%), Japan (+1.9%), Taiwan (Chinese) (+1.5%), South Korea (+1.1%) and Thailand (+1.0%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +26.5% from 2012-2021. Australia experienced a relatively flat trend pattern. By contrast, Indonesia (-3.0%), Singapore (-3.3%) and Malaysia (-5.2%) illustrated a downward trend over the same period. While the share of China (+13 p.p.), Bangladesh (+12 p.p.) and Pakistan (+3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-1.9 p.p.), Australia (-2.6 p.p.), Singapore (-2.9 p.p.), South Korea (-3.9 p.p.), Indonesia (-5.3 p.p.) and Malaysia (-7.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported abrasives (natural) in Asia-Pacific, comprising 24% of total imports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total imports. It was followed by Indonesia, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +7.0%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-0.3% per year) and Indonesia (-3.1% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, rising by 11% against the previous year. Overall, the import price, however, saw a pronounced reduction. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was New Zealand ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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