MENA: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in MENA

In 2021, the MENA's market for grinding, sanding and polishing machines increased by 99.9% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Grinding, Sanding and Polishing Machines in MENA

In value terms, grinding, sanding and polishing machine production reduced modestly to $X in 2021 estimated in export price. In general, production, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 223% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports in MENA

In 2021, grinding, sanding and polishing machine exports in MENA shrank to X units, with a decrease of -12.6% on 2020 figures. Overall, exports recorded a pronounced contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 71%. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine exports surged to $X in 2021. Over the period under review, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 37% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

Turkey represented the major exporting country with an export of around X units, which finished at 53% of total exports. The United Arab Emirates (X units) held a 25% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (14%). The following exporters - Lebanon (X units) and Israel (X units) - each finished at a 6.4% share of total exports.

Exports from Turkey decreased at an average annual rate of -5.8% from 2012 to 2021. At the same time, Saudi Arabia (+90.7%) and Lebanon (+28.3%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +90.7% from 2012-2021. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Israel (-6.0%) illustrated a downward trend over the same period. Saudi Arabia (+13 p.p.), the United Arab Emirates (+3.7 p.p.) and Lebanon (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -19.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest grinding, sanding and polishing machine supplier in MENA, comprising 88% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 4.7% share of total exports. It was followed by Lebanon, with a 3.7% share.

In Turkey, grinding, sanding and polishing machine exports increased at an average annual rate of +11.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+57.9% per year) and Lebanon (+38.4% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, picking up by 50% against the previous year. Overall, the export price recorded a strong expansion. The most prominent rate of growth was recorded in 2018 an increase of 86% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

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 Turkey ($X per unit), while Israel ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+18.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Grinding, Sanding and Polishing Machines

Imports in MENA

In 2021, supplies from abroad of grinding, sanding and polishing machines increased by 59% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2014 when imports increased by 253%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine imports skyrocketed to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Qatar (X units) represented the main importer of grinding, sanding and polishing machines, generating 55% of total imports. Turkey (X units) held the second position in the ranking, followed by Iran (X units) and the United Arab Emirates (X units). All these countries together held near 29% share of total imports. Israel (X units), Morocco (X units) and Kuwait (X units) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to grinding, sanding and polishing machine imports into Qatar stood at -8.9%. At the same time, Kuwait (+31.7%), the United Arab Emirates (+27.0%), Iran (+20.6%) and Morocco (+13.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in MENA, with a CAGR of +31.7% from 2012-2021. By contrast, Israel (-1.2%) and Turkey (-7.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Iran, the United Arab Emirates, Morocco, Kuwait and Israel increased by +9.2, +5.9, +2.8, +2.8 and +1.5 percentage points, respectively.

In value terms, the largest grinding, sanding and polishing machine importing markets in MENA were Iran ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined 83% share of total imports.

Iran, with a CAGR of +30.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2021, surging by 7.6% against the previous year. Overall, the import price posted resilient growth. The most prominent rate of growth was recorded in 2013 an increase of 140%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Iran ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform