Portugal: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in Portugal

The Portuguese market for grinding, sanding and polishing machines skyrocketed to $X in 2021, picking up by 627% against the previous year. In general, consumption posted a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Grinding, Sanding and Polishing Machines in Portugal

In value terms, grinding, sanding and polishing machine production stood at less than $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern.

Exports of Grinding, Sanding and Polishing Machines

Exports from Portugal

In 2021, approx. X units of grinding, sanding and polishing machines were exported from Portugal; rising by 189% on 2020 figures. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 228% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, grinding, sanding and polishing machine exports soared to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 67%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X units) was the main destination for grinding, sanding and polishing machine exports from Portugal, accounting for a 67% share of total exports. Moreover, grinding, sanding and polishing machine exports to South Korea exceeded the volume sent to the second major destination, Spain (X units), threefold. The United States (X units) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +391.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+55.4% per year) and the United States (+121.9% per year).

In value terms, Spain ($X) remains the key foreign market for grinding, sanding and polishing machines exports from Portugal, comprising 29% of total exports. The second position in the ranking was taken by the United States ($X), with an 8% share of total exports. It was followed by South Korea, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to Spain stood at +30.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+46.9% per year) and South Korea (+374.1% per year).

Export Prices by Country

The average export price for grinding, sanding and polishing machines stood at $X per unit in 2021, which is down by -48.8% against the previous year. Over the period under review, the export price showed a sharp curtailment. The most prominent rate of growth was recorded in 2014 an increase of 46% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-3.5%), while the prices for the other major destinations experienced a decline.

Imports of Grinding, Sanding and Polishing Machines

Imports into Portugal

In 2021, purchases abroad of grinding, sanding and polishing machines decreased by -26.6% to X units for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 141% against the previous year. Over the period under review, imports hit record highs at X units in 2020, and then contracted notably in the following year.

In value terms, grinding, sanding and polishing machine imports reduced rapidly to $X in 2021. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 106% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then declined rapidly in the following year.

Imports by Country

Spain (X units), China (X units) and Italy (X units) were the main suppliers of grinding, sanding and polishing machine imports to Portugal, together comprising 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +59.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and China ($X) constituted the largest grinding, sanding and polishing machine suppliers to Portugal, with a combined 93% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +56.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for grinding, sanding and polishing machines amounted to $X per unit, with a decrease of -12.5% against the previous year. Over the period under review, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 an increase of 114%. As a result, import price reached the peak level of $X per unit. From 2018 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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+12.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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