Portugal: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Portugal

In 2021, the Portuguese conveyor or transmission belt market decreased by -11.9% to $X, falling for the third year in a row after three years of growth. In general, consumption, however, recorded a relatively flat trend pattern. Conveyor or transmission belt consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Conveyor Or Transmission Belts Or Belting in Portugal

In value terms, conveyor or transmission belt production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production showed a noticeable setback. The pace of growth was the most pronounced in 2016 with an increase of 42% against the previous year. Conveyor or transmission belt production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Portugal

In 2021, after two years of growth, there was significant decline in overseas shipments of conveyor or transmission belts or belting, when their volume decreased by -8.7% to X tons. Overall, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2020 when exports increased by 68%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, conveyor or transmission belt exports declined rapidly to $X in 2021. Over the period under review, exports saw a abrupt slump. The growth pace was the most rapid in 2019 with an increase of 59%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Angola (X tons) was the main destination for conveyor or transmission belt exports from Portugal, accounting for a 44% share of total exports. Moreover, conveyor or transmission belt exports to Angola exceeded the volume sent to the second major destination, Spain (X tons), twofold. The third position in this ranking was taken by Cabo Verde (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Angola amounted to -16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-24.9% per year) and Cabo Verde (+14.9% per year).

In value terms, Angola ($X), Spain ($X) and France ($X) appeared to be the largest markets for conveyor or transmission belt exported from Portugal worldwide, with a combined 74% share of total exports. These countries were followed by Cabo Verde, Mozambique, Sao Tome and Principe, Sudan, Slovakia, Rwanda, Tunisia and Egypt, which together accounted for a further 16%.

Slovakia, with a CAGR of +118.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average conveyor or transmission belt export price stood at $X per ton in 2021, dropping by -10.3% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, conveyor or transmission belt export price decreased by -37.4% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 33%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Rwanda ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Portugal

In 2021, after two years of decline, there was growth in overseas purchases of conveyor or transmission belts or belting, when their volume increased by 2.7% to X tons. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 41%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, conveyor or transmission belt imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a mild descent. The pace of growth was the most pronounced in 2018 when imports increased by 24% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Spain (X tons), Turkey (X tons) and China (X tons) were the main suppliers of conveyor or transmission belt imports to Portugal, together comprising 67% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +32.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of conveyor or transmission belts or belting to Portugal, comprising 39% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by France, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.6% per year) and France (+6.6% per year).

Import Prices by Country

In 2021, the average conveyor or transmission belt import price amounted to $X per ton, surging by 15% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 20% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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