Eastern Asia: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Eastern Asia

The East Asian grinding and sharpening machine market totaled $X in 2022, surging by 4% against the previous year. In general, consumption enjoyed a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in Eastern Asia

In value terms, grinding and sharpening machine production totaled $X in 2022 estimated in export price. The total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in Eastern Asia

In 2022, shipments abroad of grinding and sharpening metal finishing machines decreased by -21.6% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 44%. As a result, the exports attained the peak of X units, and then dropped notably in the following year.

In value terms, grinding and sharpening machine exports reduced to $X in 2022. Over the period under review, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 35% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. 91% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), committing a 6.3% share of total exports. Japan (X units) took a little share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of grinding and sharpening metal finishing machines. Japan experienced a relatively flat trend pattern. Taiwan (Chinese) (-4.7%) illustrated a downward trend over the same period. While the share of China (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Taiwan (Chinese) ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2022, with a combined 89% share of total exports.

Among the main exporting countries, China, with a CAGR of +0.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, with an increase of 18% against the previous year. In general, the export price, however, showed a abrupt decline. The growth pace was the most rapid in 2015 an increase of 34% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, 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.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in Eastern Asia

Grinding and sharpening machine imports soared to X units in 2022, jumping by 70% compared with the year before. Over the period under review, imports, however, continue to indicate a pronounced curtailment. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, grinding and sharpening machine imports declined modestly to $X in 2022. Overall, imports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2021 with an increase of 30%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units) and South Korea (X units) represented the key importers of grinding and sharpening metal finishing machines in 2022, reaching near 48% and 36% of total imports, respectively. It was distantly followed by China (X units), achieving a 10% share of total imports. Taiwan (Chinese) (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +3.4%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest grinding and sharpening machine importing markets in Eastern Asia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), together accounting for 89% of total imports.

Among the main importing countries, Taiwan (Chinese), with a CAGR of -1.9%, 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 a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, waning by -43.1% against the previous year. Over the period under review, the import price saw a deep slump. The growth pace was the most rapid in 2021 an increase of 81% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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