Eastern Asia: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in Eastern Asia

The East Asian agricultural product dryer market declined modestly to $X in 2021, approximately equating the previous year. Over the period under review, consumption recorded a pronounced setback. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Agricultural Product Dryer Production in Eastern Asia

In value terms, agricultural product dryer production totaled $X in 2021 estimated in export price. Over the period under review, production continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 19%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Agricultural Product Dryer Exports

Exports in Eastern Asia

For the fifth year in a row, Eastern Asia recorded growth in shipments abroad of dryers for the treatment of agricultural products, which increased by 35% to X units in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% 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 +109.1% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, agricultural product dryer exports skyrocketed to $X in 2021. Total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X units) was the largest exporter of dryers for the treatment of agricultural products, generating 78% of total exports. It was distantly followed by Taiwan (Chinese) (X units), constituting a 17% share of total exports. South Korea (X units) took a minor share of total exports.

Exports from China increased at an average annual rate of +6.9% from 2012 to 2021. At the same time, Taiwan (Chinese) (+13.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +13.8% from 2012-2021. By contrast, South Korea (-1.2%) illustrated a downward trend over the same period. Taiwan (Chinese) (+7.9 p.p.) and China (+4.8 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -3.9% from 2012 to 2021, respectively.

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) were the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

Taiwan (Chinese), with a CAGR of +6.8%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, leveling off at the previous year. Overall, the export price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2016 an increase of 42% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

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

Agricultural Product Dryer Imports

Imports in Eastern Asia

In 2021, agricultural product dryer imports in Eastern Asia soared to X units, picking up by 90% compared with 2020. Overall, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 163% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, agricultural product dryer imports soared to $X in 2021. In general, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X units) represented the main importer of dryers for the treatment of agricultural products, making up 59% of total imports. It was distantly followed by China (X units), Taiwan (Chinese) (X units) and Hong Kong SAR (X units), together creating a 38% share of total imports. South Korea (X units) followed a long way behind the leaders.

Japan was also the fastest-growing in terms of the dryers for the treatment of agricultural products imports, with a CAGR of +45.6% from 2012 to 2021. At the same time, China (+2.8%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-7.5%), Hong Kong SAR (-9.9%) and South Korea (-12.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan increased by +55 percentage points.

In value terms, China ($X) constitutes the largest market for imported dryers for the treatment of agricultural products in Eastern Asia, comprising 73% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 5.1% share.

In China, agricultural product dryer imports increased at an average annual rate of +8.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+10.9% per year) and Taiwan (Chinese) (-2.5% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, picking up by 2.2% against the previous year. Over the period under review, the import price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2013 when the import price increased by 138% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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