Eastern Asia: Tobacco Making Machinery Market 2024

Tobacco Making Machinery Market Size in Eastern Asia

The East Asian tobacco making machinery market shrank to $X in 2022, approximately equating the previous year. Over the period under review, consumption, however, recorded a deep contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Tobacco Making Machinery Production in Eastern Asia

In value terms, tobacco making machinery production fell slightly to $X in 2022 estimated in export price. In general, production saw a slight curtailment. The growth pace was the most rapid in 2013 when the production volume increased by 6.5%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Tobacco Making Machinery Exports

Exports in Eastern Asia

Tobacco making machinery exports rose significantly to X units in 2022, increasing by 14% compared with the previous year. In general, exports enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 140%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, tobacco making machinery exports reached $X in 2022. Overall, exports, however, recorded a slight descent. The growth pace was the most rapid in 2018 with an increase of 42%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, amounting to X units, which was near 85% of total exports in 2022. It was distantly followed by South Korea (X units) and Taiwan (Chinese) (X units), together mixing up a 15% share of total exports.

China was also the fastest-growing in terms of the machinery for the preparation or making up of tobacco exports, with a CAGR of +8.5% from 2012 to 2022. Taiwan (Chinese) (-5.8%) and South Korea (-6.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +30 percentage points.

In value terms, China ($X) remains the largest tobacco making machinery supplier in Eastern Asia, comprising 63% of total exports. The second position in the ranking was taken by South Korea ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to -3.3%. In the other countries, the average annual rates were as follows: South Korea (+8.2% per year) and Taiwan (Chinese) (-9.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, which is down by -6.5% against the previous year. Overall, the export price showed a deep slump. The most prominent rate of growth was recorded in 2017 an increase of 45%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+15.7%), while the other leaders experienced a decline in the export price figures.

Tobacco Making Machinery Imports

Imports in Eastern Asia

In 2022, approx. X units of machinery for the preparation or making up of tobacco were imported in Eastern Asia; rising by 79% compared with 2021 figures. Over the period under review, imports, however, showed a deep setback. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, tobacco making machinery imports surged to $X in 2022. Overall, imports, however, continue to indicate a abrupt shrinkage. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China represented the main importing country with an import of about X units, which resulted at 57% of total imports. It was distantly followed by South Korea (X units) and Taiwan (Chinese) (X units), together achieving a 38% share of total imports. The following importers - Hong Kong SAR (X units) and Democratic People's Republic of Korea (X units) - each finished at a 3.8% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to tobacco making machinery imports into China stood at -20.0%. At the same time, Democratic People's Republic of Korea (+9.7%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +9.7% from 2012-2022. By contrast, Taiwan (Chinese) (-5.3%), South Korea (-11.0%) and Hong Kong SAR (-15.3%) illustrated a downward trend over the same period. While the share of South Korea (+12 p.p.), Taiwan (Chinese) (+11 p.p.) and Democratic People's Republic of Korea (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-22.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported machinery for the preparation or making up of tobacco in Eastern Asia, comprising 68% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled -8.3%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-5.5% per year) and Taiwan (Chinese) (-3.7% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, reducing by -8.7% against the previous year. Overall, the import price, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2016 an increase of 53% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 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 ($X per unit), while Hong Kong SAR ($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 (+14.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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