Eastern Asia: Grinding Machine Market 2024

Grinding Machine Market Size in Eastern Asia

The East Asian grinding machine market contracted slightly to $X in 2021, reducing by -4.3% against the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020, and then fell modestly in the following year.

Grinding Machine Production in Eastern Asia

In value terms, grinding machine production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 24%. The level of production peaked at $X in 2020, and then declined in the following year.

Grinding Machine Exports

Exports in Eastern Asia

Grinding machine exports rose rapidly to X units in 2021, picking up by 5.8% on the previous year's figure. Total exports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -7.4% against 2019 indices. The growth pace was the most rapid in 2018 when exports increased by 23%. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, grinding machine exports surged to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 33% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the near future.

Exports by Country

China represented the largest exporting country with an export of around X units, which resulted at 73% of total exports. Taiwan (Chinese) (X units) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Japan (6.2%) and South Korea (6.2%).

China was also the fastest-growing in terms of the machines having individual functions, for mixing, kneading, crushing or grinding exports, with a CAGR of +15.1% from 2012 to 2021. Japan (-6.1%), Taiwan (Chinese) (-7.4%) and South Korea (-8.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +45 percentage points.

In value terms, China ($X) remains the largest grinding machine supplier in Eastern Asia, comprising 58% of total exports. The second position in the ranking was taken by South Korea ($X), with a 22% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +10.4%. In the other countries, the average annual rates were as follows: South Korea (+13.8% per year) and Japan (-5.1% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, increasing by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by South Korea (+24.9%), while the other leaders experienced more modest paces of growth.

Grinding Machine Imports

Imports in Eastern Asia

Grinding machine imports surged to X units in 2021, rising by 19% against the year before. Overall, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 45% against the previous year. Over the period under review, imports attained the peak figure at X units in 2019; afterwards, it flattened through to 2021.

In value terms, grinding machine imports expanded significantly to $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +59.8% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 25%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Japan (X units) was the main importer of machines having individual functions, for mixing, kneading, crushing or grinding, achieving 47% of total imports. South Korea (X units) ranks second in terms of the total imports with a 25% share, followed by Taiwan (Chinese) (18%) and China (7.4%). Hong Kong SAR (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +13.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported machines having individual functions, for mixing, kneading, crushing or grinding in Eastern Asia, comprising 61% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 14% share.

In China, grinding machine imports increased at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+4.4% per year) and Japan (+2.9% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, with a decrease of -6.7% against the previous year. Over the period under review, the import price saw a pronounced decline. The pace of growth appeared the most rapid in 2020 an increase of 17%. Over the period under review, import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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