China: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in China

In 2021, the Chinese market for grinding, sanding and polishing machines decreased by -56.1% to $X, falling for the fourth year in a row after two years of growth. In general, consumption continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when the market value increased by 3.5%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Grinding, Sanding and Polishing Machines in China

In value terms, grinding, sanding and polishing machine production rose markedly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 14%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports from China

In 2021, overseas shipments of grinding, sanding and polishing machines increased by 44% to X units, rising for the fourth year in a row after two years of decline. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 90%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, grinding, sanding and polishing machine exports surged to $X in 2021. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 75% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for grinding, sanding and polishing machine exports from China, with a 43% share of total exports. Moreover, grinding, sanding and polishing machine exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was taken by the UK (X units), with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+49.5% per year) and the UK (+34.2% per year).

In value terms, the United States ($X) remains the key foreign market for grinding, sanding and polishing machines exports from China, comprising 20% of total exports. The second position in the ranking was taken by Germany ($X), with a 7% share of total exports. It was followed by Russia, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+20.5% per year) and Russia (+8.3% per year).

Export Prices by Country

The average export price for grinding, sanding and polishing machines stood at $X per unit in 2021, which is down by -13.4% against the previous year. In general, the export price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 51%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+2.4%), while the prices for the other major destinations experienced a decline.

Imports of Grinding, Sanding and Polishing Machines

Imports into China

In 2021, purchases abroad of grinding, sanding and polishing machines increased by 35% to X units, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +46.1% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 57% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine imports soared to $X in 2021. Overall, imports, however, showed a mild decline. The most prominent rate of growth was recorded in 2017 with an increase of 75%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X units) constituted the largest supplier of grinding, sanding and polishing machine to China, accounting for a 60% share of total imports. Moreover, grinding, sanding and polishing machine imports from South Korea exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.9% per year) and Taiwan (Chinese) (-1.8% per year).

In value terms, the largest grinding, sanding and polishing machine suppliers to China were Germany ($X), Japan ($X) and South Korea ($X), together accounting for 55% of total imports.

South Korea, with a CAGR of +8.3%, 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

The average import price for grinding, sanding and polishing machines stood at $X per unit in 2021, rising by 12% against the previous year. Over the period under review, the import price, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the average import price increased by 29% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Sweden (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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