Asia-Pacific: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Asia-Pacific

The Asia-Pacific conveyor or transmission belt market expanded to $X in 2021, increasing by 1.8% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Asia-Pacific

In value terms, conveyor or transmission belt production rose rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 15% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in Asia-Pacific

In 2021, conveyor or transmission belt exports in Asia-Pacific soared to X tons, rising by 17% against 2020 figures. The total export volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 31%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, conveyor or transmission belt exports soared to $X in 2021. The total export value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, reaching X tons, which was near 76% of total exports in 2021. It was distantly followed by India (X tons), creating a 6.4% share of total exports. Taiwan (Chinese) (X tons), Japan (X tons), Thailand (X tons), Australia (X tons) and Indonesia (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to conveyor or transmission belt exports from China stood at +5.7%. At the same time, Australia (+15.9%), India (+3.1%), Thailand (+2.3%) and Indonesia (+1.3%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +15.9% from 2012-2021. By contrast, Taiwan (Chinese) (-3.3%) and Japan (-7.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +10 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest conveyor or transmission belt supplier in Asia-Pacific, comprising 51% of total exports. The second position in the ranking was taken by Japan ($X), with a 16% share of total exports. It was followed by India, with a 7% share.

In China, conveyor or transmission belt exports expanded at an average annual rate of +4.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-4.4% per year) and India (+3.2% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, surging by 8.9% against the previous year. In general, the export price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2016 when the export price increased by 10%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.8%), while the other leaders experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports in Asia-Pacific

In 2021, purchases abroad of conveyor or transmission belts or belting was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of conveyor or transmission belt imports in 2021 were Australia (X tons), South Korea (X tons), Indonesia (X tons), India (X tons), China (X tons), Vietnam (X tons), Japan (X tons), Thailand (X tons) and Malaysia (X tons), together resulting at 83% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +8.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Australia ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, with a combined 40% share of total imports. Indonesia, India, Vietnam, Thailand, Japan and Malaysia lagged somewhat behind, together accounting for a further 39%.

Vietnam, with a CAGR of +5.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, stabilizing at the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 4.1%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 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 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 Australia (+5.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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