Eastern Asia: Abrasives Market 2024

Abrasives Market Size in Eastern Asia

The East Asian abrasives market was estimated at $X in 2021, approximately equating the previous year. The market value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Abrasives Production in Eastern Asia

In value terms, abrasives production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 32%. Over the period under review, production attained the peak level at $X in 2020, and then shrank in the following year.

Abrasives Exports

Exports in Eastern Asia

In 2021, approx. X tons of abrasives (natural) were exported in Eastern Asia; picking up by 6.1% on the previous year. Over the period under review, exports posted resilient growth. The growth pace was the most rapid in 2017 with an increase of 112%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, abrasives exports expanded rapidly to $X in 2021. Overall, exports posted resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 67%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

China was the largest exporting country with an export of around X tons, which recorded 71% of total exports. It was distantly followed by Japan (X tons), comprising a 28% share of total exports.

China was also the fastest-growing in terms of the abrasives (natural) exports, with a CAGR of +14.3% from 2012 to 2021. At the same time, Japan (+6.0%) displayed positive paces of growth. China (+16 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -14.3% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest abrasives supplier in Eastern Asia, comprising 69% of total exports. The second position in the ranking was held by Japan ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +20.1%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 2.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 28% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Japan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.0%).

Abrasives Imports

Imports in Eastern Asia

In 2021, approx. X tons of abrasives (natural) were imported in Eastern Asia; with an increase of 5.9% against the year before. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 65% 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 soared to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when imports increased by 20% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main importer of abrasives (natural), comprising 73% of total imports. South Korea (X tons) held the second position in the ranking, distantly followed by Japan (X tons). All these countries together took approx. 23% share of total imports. Taiwan (Chinese) (X tons) took a relatively small share of total imports.

China was also the fastest-growing in terms of the abrasives (natural) imports, with a CAGR of +10.8% from 2012 to 2021. At the same time, Japan (+1.9%), Taiwan (Chinese) (+1.5%) and South Korea (+1.1%) displayed positive paces of growth. China (+19 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), Japan and South Korea saw its share reduced by -2.4%, -3.4% and -11.6% from 2012 to 2021, respectively.

In value terms, China ($X) constitutes the largest market for imported abrasives (natural) in Eastern Asia, comprising 53% of total imports. The second position in the ranking was taken by South Korea ($X), with a 24% share of total imports. It was followed by Japan, with a 12% share.

In China, abrasives imports increased at an average annual rate of +7.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-0.3% per year) and Japan (+3.6% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 13% against the previous year. Overall, the import price, however, continues to indicate a pronounced downturn. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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