Asia-Pacific: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in Asia-Pacific

The Asia-Pacific agricultural product dryer market declined to $X in 2021, approximately equating the previous year. Overall, consumption, however, continues to indicate a mild curtailment. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Agricultural Product Dryer Production in Asia-Pacific

In value terms, agricultural product dryer production rose slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible decline. The most prominent rate of growth was recorded in 2017 with an increase of 14%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Agricultural Product Dryer Exports

Exports in Asia-Pacific

In 2021, the amount of dryers for the treatment of agricultural products exported in Asia-Pacific skyrocketed to X units, picking up by 31% on the previous year. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +20.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 39%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, agricultural product dryer exports expanded remarkably to $X in 2021. Total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +10.7% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 22%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China represented the major exporter of dryers for the treatment of agricultural products in Asia-Pacific, with the volume of exports resulting at X units, which was near 64% of total exports in 2021. Taiwan (Chinese) (X units) held the second position in the ranking, followed by India (X units). All these countries together held near 23% share of total exports. South Korea (X units), Malaysia (X units) and the Philippines (X units) took a minor share of total exports.

Exports from China increased at an average annual rate of +6.9% from 2012 to 2021. At the same time, the Philippines (+66.3%), India (+33.9%) and Taiwan (Chinese) (+13.8%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +66.3% from 2012-2021. By contrast, South Korea (-1.2%) and Malaysia (-4.9%) illustrated a downward trend over the same period. While the share of India (+8.2 p.p.), Taiwan (Chinese) (+6.3 p.p.), China (+2.7 p.p.) and the Philippines (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-3.4 p.p.) and Malaysia (-5.9 p.p.) displayed negative dynamics.

In value terms, China ($X), Taiwan (Chinese) ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 80% share of total exports. South Korea, Malaysia and the Philippines lagged somewhat behind, together accounting for a further 15%.

Among the main exporting countries, the Philippines, with a CAGR of +41.2%, 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 unit, with a decrease of -16.9% against the previous year. Over the period under review, the export price showed a pronounced setback. The most prominent rate of growth was recorded in 2016 an increase of 30% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 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 South Korea ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.2%), while the other leaders experienced a decline in the export price figures.

Agricultural Product Dryer Imports

Imports in Asia-Pacific

Agricultural product dryer imports expanded rapidly to X units in 2021, increasing by 14% on the year before. Over the period under review, imports posted buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 119%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, agricultural product dryer imports rose markedly to $X in 2021. Overall, imports, however, continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2018 with an increase of 19% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Philippines dominates imports structure, accounting for X units, which was approx. 60% of total imports in 2021. Vietnam (X units) held the second position in the ranking, followed by Japan (X units) and Bangladesh (X units). All these countries together held near 18% share of total imports. Indonesia (X units), Malaysia (X units), India (X units) and China (X units) held a little share of total imports.

Imports into the Philippines increased at an average annual rate of +26.9% from 2012 to 2021. At the same time, Japan (+45.6%), Vietnam (+42.3%), Bangladesh (+17.2%), Malaysia (+13.2%) and China (+2.8%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +45.6% from 2012-2021. India experienced a relatively flat trend pattern. By contrast, Indonesia (-10.4%) illustrated a downward trend over the same period. The Philippines (+38 p.p.), Vietnam (+7.3 p.p.) and Japan (+4.4 p.p.) significantly strengthened its position in terms of the total imports, while China, India and Indonesia saw its share reduced by -3.2%, -6.5% and -28.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest agricultural product dryer importing markets in Asia-Pacific were Indonesia ($X), China ($X) and the Philippines ($X), together comprising 41% of total imports. These countries were followed by Vietnam, Bangladesh, India, Japan and Malaysia, which together accounted for a further 25%.

Among the main importing countries, Japan, with a CAGR of +10.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, dropping by -5.3% against the previous year. Overall, the import price faced a deep setback. The pace of growth was the most pronounced in 2017 when the import price increased by 26%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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