China: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in China

In 2022, the Chinese stone polishing machine market decreased by -38.4% to $X, falling for the fourth year in a row after three years of growth. Over the period under review, consumption continues to indicate a deep contraction. Stone polishing machine consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Stone Polishing Machine Production in China

In value terms, stone polishing machine production reduced to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 36%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Stone Polishing Machine Exports

Exports from China

In 2022, overseas shipments of grinding or polishing machines for working stone, ceramics and concrete increased by 37% to X units, rising for the fourth year in a row after two years of decline. Overall, exports enjoyed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, stone polishing machine exports amounted to $X in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +10.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.1% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 72%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for stone polishing machine exports from China, accounting for a 31% share of total exports. Moreover, stone polishing machine exports to the United States exceeded the volume sent to the second major destination, Pakistan (X units), sevenfold. Vietnam (X units) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+41.5% per year) and Vietnam (+14.9% per year).

In value terms, India ($X), Vietnam ($X) and the United States ($X) were the largest markets for stone polishing machine exported from China worldwide, with a combined 34% share of total exports. Brazil, Pakistan, Egypt, Thailand, the Philippines, Japan, Kazakhstan, Germany, Colombia and Belgium lagged somewhat behind, together accounting for a further 17%.

Pakistan, with a CAGR of +40.4%, saw the highest rates of growth with regard to 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 2022, the average stone polishing machine export price amounted to $X per unit, falling by -16.6% against the previous year. Overall, the export price showed a slight decline. The most prominent rate of growth was recorded in 2021 an increase of 31%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Stone Polishing Machine Imports

Imports into China

In 2022, approx. X units of grinding or polishing machines for working stone, ceramics and concrete were imported into China; falling by -9.5% on 2021 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 79% against the previous year. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, stone polishing machine imports shrank dramatically to $X in 2022. Overall, imports saw a deep setback. The pace of growth appeared the most rapid in 2017 when imports increased by 88% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Korea (X units) constituted the largest stone polishing machine supplier to China, with a 56% share of total imports. Moreover, stone polishing machine imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. The third position in this ranking was taken by Germany (X units), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.3% per year) and Germany (+7.9% per year).

In value terms, the largest stone polishing machine suppliers to China were Japan ($X), South Korea ($X) and Germany ($X), with a combined 78% share of total imports.

Among the main suppliers, Germany, with a CAGR of +7.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average stone polishing machine import price amounted to $X per unit, shrinking by -30.3% against the previous year. Overall, the import price showed a abrupt contraction. The pace of growth appeared the most rapid in 2020 when the average import price increased by 43%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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