Eastern Asia: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Eastern Asia

The East Asian machine-tool for working wood market reduced rapidly to $X in 2021, waning by -30.9% against the previous year. Over the period under review, consumption showed a pronounced curtailment. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Production of Machine-Tools For Working Wood in Eastern Asia

In value terms, machine-tool for working wood production reduced to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +62.9% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 59%. Over the period under review, production attained the peak level at $X in 2020, and then reduced in the following year.

Exports of Machine-Tools For Working Wood

Exports in Eastern Asia

In 2021, machine-tool for working wood exports in Eastern Asia soared to X tons, rising by 37% on the previous year. Over the period under review, exports showed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 42%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, machine-tool for working wood exports skyrocketed to $X in 2021. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 38%. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

China was the largest exporting country with an export of around X tons, which finished at 81% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), generating an 18% share of total exports.

China was also the fastest-growing in terms of the machine-tools for working wood exports, with a CAGR of +25.6% from 2012 to 2021. At the same time, Taiwan (Chinese) (+7.2%) displayed positive paces of growth. China (+34 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by -25% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest machine-tool for working wood supplier in Eastern Asia, comprising 68% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China stood at +14.6%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, leveling off at the previous year. In general, the export price, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2015 an increase of 6.9%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.7%).

Imports of Machine-Tools For Working Wood

Imports in Eastern Asia

After three years of decline, supplies from abroad of machine-tools for working wood increased by 8.3% to X tons in 2021. Over the period under review, imports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of 35%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working wood imports rose notably to $X in 2021. In general, imports, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2017 when imports increased by 34% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of machine-tools for working wood, namely China, Japan and South Korea, represented more than two-thirds of total import. It was distantly followed by Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons), together making up a 15% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +7.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported machine-tools for working wood in Eastern Asia, comprising 52% of total imports. The second position in the ranking was taken by Japan ($X), with an 18% share of total imports. It was followed by South Korea, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at -5.4%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+6.4% per year) and South Korea (+0.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2019 when the import price increased by 23%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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