Malaysia: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Malaysia

The Malaysian grinding and sharpening machine market was estimated at $X in 2022, flattening at the previous year. In general, consumption saw a prominent increase. Grinding and sharpening machine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in Malaysia

In value terms, grinding and sharpening machine production totaled $X in 2022 estimated in export price. In general, production showed a resilient increase. The growth pace was the most rapid in 2018 with an increase of 77%. Grinding and sharpening machine production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Malaysia

In 2022, approx. X units of grinding and sharpening metal finishing machines were exported from Malaysia; with a decrease of -42.2% against the previous year's figure. In general, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 570%. As a result, the exports attained the peak of X units, and then dropped significantly in the following year.

In value terms, grinding and sharpening machine exports fell dramatically to $X in 2022. Over the period under review, exports showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 129% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for grinding and sharpening machine exports from Malaysia, accounting for a 82% share of total exports. Moreover, grinding and sharpening machine exports to the United States exceeded the volume sent to the second major destination, Singapore (X units), ninefold. Japan (X units) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +82.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+5.9% per year) and Japan (-4.9% per year).

In value terms, the United States ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from Malaysia, comprising 60% of total exports. The second position in the ranking was held by Singapore ($X), with a 15% share of total exports. It was followed by Japan, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+3.1% per year) and Japan (-5.4% per year).

Export Prices by Country

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, surging by 24% against the previous year. In general, the export price, however, recorded a deep contraction. The pace of growth was the most pronounced in 2018 an increase of 155% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+1.6%), while the prices for the other major destinations experienced a decline.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Malaysia

Grinding and sharpening machine imports into Malaysia declined significantly to X units in 2022, dropping by -24.7% compared with the year before. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 177%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine imports declined dramatically to $X in 2022. In general, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 124% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of grinding and sharpening machine to Malaysia, with a 40% share of total imports. Moreover, grinding and sharpening machine imports from Japan exceeded the figures recorded by the second-largest supplier, Singapore (X units), twofold. China (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Japan stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+19.4% per year) and China (-3.7% per year).

In value terms, Japan ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Malaysia, comprising 34% of total imports. The second position in the ranking was held by Switzerland ($X), with a 15% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to -11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-3.1% per year) and China (-3.4% per year).

Import Prices by Country

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, dropping by -4% against the previous year. Overall, the import price showed a deep contraction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 34%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brunei Darussalam (+25.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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