Eastern Asia: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Eastern Asia

In 2021, after three years of growth, there was significant decline in the East Asian lathe for removing metal market, when its value decreased by -14.4% to $X. Over the period under review, consumption showed a noticeable decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Lathes For Removing Metal in Eastern Asia

In value terms, lathe for removing metal production expanded to $X in 2021 estimated in export price. In general, production, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2017 with an increase of 12%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Lathes For Removing Metal

Exports in Eastern Asia

In 2021, the amount of lathes for removing metal exported in Eastern Asia surged to X units, rising by 28% against the previous year's figure. Overall, exports, however, saw a relatively flat trend pattern. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, lathe for removing metal exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a pronounced setback. Over the period under review, the lafor removing metal exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China represented the key exporting country with an export of around X units, which finished at 57% of total exports. Taiwan (Chinese) (X units) took the second position in the ranking, followed by South Korea (X units) and Japan (X units). All these countries together took near 43% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to lathe for removing metal exports from China stood at +2.7%. At the same time, South Korea (+11.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +11.3% from 2012-2021. By contrast, Japan (-3.5%) and Taiwan (Chinese) (-8.5%) illustrated a downward trend over the same period. China (+15 p.p.) and South Korea (+9.8 p.p.) significantly strengthened its position in terms of the total exports, while Japan and Taiwan (Chinese) saw its share reduced by -2.4% and -21.7% from 2012 to 2021, respectively.

In value terms, Japan ($X), Taiwan (Chinese) ($X) and South Korea ($X) were the countries with the highest levels of exports in 2021, together accounting for 85% of total exports. China lagged somewhat behind, accounting for a further 15%.

In terms of the main exporting countries, China, with a CAGR of +0.4%, recorded 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

In 2021, the export price in Eastern Asia amounted to $X per unit, with an increase of 2% against the previous year. Overall, the export price, however, showed a perceptible setback. The pace of growth was the most pronounced in 2016 an increase of 34% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.2%), while the other leaders experienced a decline in the export price figures.

Imports of Lathes For Removing Metal

Imports in Eastern Asia

In 2021, supplies from abroad of lathes for removing metal increased by 69% to X units for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, lathe for removing metal imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a slight shrinkage. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China was the main importer of lathes for removing metal in Eastern Asia, with the volume of imports accounting for X units, which was near 50% of total imports in 2021. It was distantly followed by South Korea (X units), Japan (X units) and Taiwan (Chinese) (X units), together making up a 50% share of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of lathes for removing metal. At the same time, South Korea (+11.5%) and Taiwan (Chinese) (+11.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +11.5% from 2012-2021. By contrast, Japan (-2.9%) illustrated a downward trend over the same period. While the share of South Korea (+11 p.p.) and Taiwan (Chinese) (+7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-5.7 p.p.) and Japan (-9.1 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported lathes for removing metal in Eastern Asia, comprising 57% of total imports. The second position in the ranking was held by Japan ($X), with an 18% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

In China, lathe for removing metal imports contracted by an average annual rate of -3.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+4.2% per year) and Taiwan (Chinese) (+3.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, which is down by -15.3% against the previous year. In general, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2017 when the import price increased by 12%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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