China: Abrasives Market 2024

Abrasives Market Size in China

In 2021, after four years of growth, there was significant decline in the Chinese abrasives market, when its value decreased by -5.7% to $X. Overall, consumption continues to indicate a buoyant increase. Over the period under review, the market attained the peak level at $X in 2020, and then reduced in the following year.

Abrasives Production in China

In value terms, abrasives production declined to $X in 2021 estimated in export price. Overall, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 36% against the previous year. Abrasives production peaked at $X in 2020, and then shrank in the following year.

Abrasives Exports

Exports from China

In 2021, shipments abroad of abrasives (natural) decreased by -0.2% to X tons, falling for the second year in a row after three years of growth. In general, exports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 232% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, abrasives exports expanded to $X in 2021. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 208%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), South Korea (X tons) and Russia (X tons) were the main destinations of abrasives exports from China, with a combined 35% share of total exports. These countries were followed by Australia, Italy, Malaysia, the United Arab Emirates, Japan, Poland, New Zealand, Germany, the Netherlands and Turkey, which together accounted for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +78.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for abrasives exported from China were South Korea ($X), the United States ($X) and Australia ($X), with a combined 36% share of total exports. Japan, Russia, Italy, the United Arab Emirates, Malaysia, Poland, New Zealand, Germany, the Netherlands and Turkey lagged somewhat behind, together accounting for a further 35%.

Poland, with a CAGR of +71.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average abrasives export price amounted to $X per ton, rising by 3.1% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, abrasives export price increased by +79.4% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 36%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Abrasives Imports

Imports into China

In 2021, abrasives imports into China rose sharply to X tons, picking up by 7.8% compared with the year before. Over the period under review, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 118% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, abrasives imports surged to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.4% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 47%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Turkey (X tons) and Japan (X tons) were the main suppliers of abrasives imports to China, with a combined 98% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +14.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X), Turkey ($X) and Japan ($X) constituted the largest abrasives suppliers to China, together accounting for 89% of total imports.

Turkey, with a CAGR of +14.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average abrasives import price amounted to $X per ton, increasing by 22% against the previous year. Overall, the import price, however, continues to indicate a perceptible slump. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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