Eastern Asia: Fats Preparation Machinery Market 2024

Fats Preparation Machinery Market Size in Eastern Asia

The East Asian fats preparation machinery market dropped markedly to $X in 2022, shrinking by -31% against the previous year. Overall, consumption, however, saw slight growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Fats Preparation Machinery Production in Eastern Asia

In value terms, fats preparation machinery production contracted slightly to $X in 2022 estimated in export price. In general, production enjoyed prominent growth. The growth pace was the most rapid in 2019 with an increase of 51% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Fats Preparation Machinery Exports

Exports in Eastern Asia

In 2022, exports of machinery for the extraction or preparation of animal or fixed vegetable fats or oils in Eastern Asia skyrocketed to X units, jumping by 97% on 2021. Overall, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fats preparation machinery exports soared to $X in 2022. In general, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, China (X units) was the key exporter of machinery for the extraction or preparation of animal or fixed vegetable fats or oils in Eastern Asia, constituting 98% of total export.

China was also the fastest-growing in terms of the machinery for the extraction or preparation of animal or fixed vegetable fats or oils exports, with a CAGR of +32.0% from 2012 to 2022. From 2012 to 2022, the share of China increased by +5.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest fats preparation machinery supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China totaled +16.7%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, declining by -21.5% against the previous year. In general, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 19% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -11.6% per year.

Fats Preparation Machinery Imports

Imports in Eastern Asia

Fats preparation machinery imports dropped rapidly to X units in 2022, declining by -44.5% against 2021 figures. Over the period under review, imports, however, continue to indicate a temperate expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 74%. Over the period under review, imports hit record highs at X units in 2021, and then shrank remarkably in the following year.

In value terms, fats preparation machinery imports fell sharply to $X in 2022. Overall, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 65% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Taiwan (Chinese) (X units) was the main importer of machinery for the extraction or preparation of animal or fixed vegetable fats or oils, achieving 74% of total imports. Japan (X units) held the second position in the ranking, followed by South Korea (X units) and China (X units). All these countries together held approx. 21% share of total imports. Democratic People's Republic of Korea (X units) and Hong Kong SAR (X units) followed a long way behind the leaders.

Taiwan (Chinese) was also the fastest-growing in terms of the machinery for the extraction or preparation of animal or fixed vegetable fats or oils imports, with a CAGR of +17.1% from 2012 to 2022. At the same time, Japan (+6.7%) and Hong Kong SAR (+5.2%) displayed positive paces of growth. By contrast, South Korea (-8.7%), China (-10.5%) and Democratic People's Republic of Korea (-18.5%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+53 p.p.) and Japan (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-15.2 p.p.), South Korea (-15.3 p.p.) and Democratic People's Republic of Korea (-25.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported machinery for the extraction or preparation of animal or fixed vegetable fats or oils in Eastern Asia, comprising 57% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 25% share of total imports. It was followed by Japan, with a 10% share.

In China, fats preparation machinery imports contracted by an average annual rate of -6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (-0.7% per year) and Japan (+2.2% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, jumping by 19% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. Over the period under review, import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (+21.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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