Eastern Asia: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Eastern Asia

The East Asian conveyor or transmission belt market contracted slightly to $X in 2021, waning by -4.5% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Eastern Asia

In value terms, conveyor or transmission belt production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by 16% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in Eastern Asia

In 2021, approx. X tons of conveyor or transmission belts or belting were exported in Eastern Asia; jumping by 15% on 2020. Total exports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +4.1% 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 +79.1% against 2016 indices. The pace of growth was the most pronounced in 2017 when exports increased by 31% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, conveyor or transmission belt exports surged to $X in 2021. The total export value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X tons, which was near 90% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), making up a 4.5% share of total exports. Japan (X tons) and South Korea (X tons) took a little share of total exports.

China was also the fastest-growing in terms of the conveyor or transmission belts or belting exports, with a CAGR of +5.7% from 2012 to 2021. At the same time, South Korea (+1.8%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-3.3%) and Japan (-7.0%) illustrated a downward trend over the same period. While the share of China (+12 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-4.3 p.p.) and Japan (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest conveyor or transmission belt supplier in Eastern Asia, comprising 68% of total exports. The second position in the ranking was held by Japan ($X), with a 21% share of total exports. It was followed by Taiwan (Chinese), with a 5.7% share.

In China, conveyor or transmission belt exports increased at an average annual rate of +4.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-4.4% per year) and Taiwan (Chinese) (-2.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 11% against the previous year. Over the period under review, the export price, however, recorded a perceptible downturn. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 (+2.8%), while the other leaders experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports in Eastern Asia

After two years of decline, overseas purchases of conveyor or transmission belts or belting increased by 28% to X tons in 2021. The total import volume increased at an average annual rate of +3.0% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of conveyor or transmission belt imports in 2021 were South Korea (X tons), China (X tons) and Japan (X tons), together accounting for 93% of total import. It was distantly followed by Taiwan (Chinese) (X tons), comprising a 5.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +8.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported conveyor or transmission belts or belting in Eastern Asia, comprising 49% of total imports. The second position in the ranking was taken by South Korea ($X), with a 22% share of total imports. It was followed by Japan, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in China totaled -1.6%. In the other countries, the average annual rates were as follows: South Korea (+4.3% per year) and Japan (-0.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, falling by -2.2% against the previous year. Over the period under review, the import price showed a pronounced reduction. The growth pace was the most rapid in 2020 an increase of 4.5% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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