Asia-Pacific: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in Asia-Pacific

After five years of growth, the Asia-Pacific market for grinding, sanding and polishing machines decreased by -24.8% to $X in 2021. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then dropped remarkably in the following year.

Production of Grinding, Sanding and Polishing Machines in Asia-Pacific

In value terms, grinding, sanding and polishing machine production dropped rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 159%. As a result, production reached the peak level of $X, and then dropped sharply in the following year.

Exports of Grinding, Sanding and Polishing Machines

Exports in Asia-Pacific

In 2021, shipments abroad of grinding, sanding and polishing machines increased by 57% to X units, rising for the fourth year in a row after two years of decline. Overall, exports continue to indicate a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, grinding, sanding and polishing machine exports surged to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +69.0% against 2016 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China represented the largest exporter of grinding, sanding and polishing machines in Asia-Pacific, with the volume of exports resulting at X units, which was near 81% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X units), mixing up a 16% share of total exports.

China was also the fastest-growing in terms of the grinding, sanding and polishing machines exports, with a CAGR of +28.1% from 2012 to 2021. At the same time, Taiwan (Chinese) (+9.1%) displayed positive paces of growth. From 2012 to 2021, the share of China increased by +38 percentage points.

In value terms, China ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of exports in 2021.

In terms of the main exporting countries, China, with a CAGR of +22.9%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, falling by -19.6% against the previous year. Over the period under review, the export price faced a abrupt decrease. The pace of growth was the most pronounced in 2017 when the export price increased by 20%. The level of export peaked at $X per unit in 2013; however, from 2014 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 Taiwan (Chinese) ($X per unit), while China amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-4.0%).

Imports of Grinding, Sanding and Polishing Machines

Imports in Asia-Pacific

For the eighth consecutive year, Asia-Pacific recorded growth in overseas purchases of grinding, sanding and polishing machines, which increased by 16% to X units in 2021. In general, imports saw a remarkable increase. The pace of growth was the most pronounced in 2018 when imports increased by 47%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, grinding, sanding and polishing machine imports expanded significantly to $X in 2021. Over the period under review, imports, however, continue to indicate a mild setback. The pace of growth appeared the most rapid in 2017 with an increase of 35% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

India prevails in imports structure, amounting to X units, which was approx. 79% of total imports in 2021. It was distantly followed by Thailand (X units), achieving a 5.4% share of total imports. The following importers - Australia (X units) and Indonesia (X units) - together made up 5.3% of total imports.

India was also the fastest-growing in terms of the grinding, sanding and polishing machines imports, with a CAGR of +39.2% from 2012 to 2021. Australia and Indonesia experienced a relatively flat trend pattern. Thailand (-9.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India increased by +65 percentage points.

In value terms, India ($X), Thailand ($X) and Australia ($X) were the countries with the highest levels of imports in 2021, together comprising 20% of total imports.

Australia, with a CAGR of +4.5%, 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 a decline in the imports figures.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, with a decrease of -8.6% against the previous year. In general, the import price saw a abrupt setback. The most prominent rate of growth was recorded in 2013 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+3.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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