Portugal: Metal Honing Machine Market 2024

Metal Honing Machine Market Size in Portugal

The Portuguese metal honing machine market contracted dramatically to $X in 2021, with a decrease of -22.3% against the previous year. Overall, consumption continues to indicate a perceptible decline. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Metal Honing Machine Production in Portugal

In value terms, metal honing machine production amounted to $X in 2021 estimated in export price. Overall, production saw a mild downturn. The growth pace was the most rapid in 2014 with an increase of 59%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Metal Honing Machine Exports

Exports from Portugal

In 2021, overseas shipments of honing or lapping machines for working metal decreased by -22.8% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, enjoyed resilient growth. The growth pace was the most rapid in 2019 when exports increased by 2,300%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, metal honing machine exports contracted dramatically to $X in 2021. In general, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 3,153%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for metal honing machine exports from Portugal, accounting for a 70% share of total exports. Moreover, metal honing machine exports to the UK exceeded the volume sent to the second major destination, Angola (X units), fourfold. Poland (X units) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +933.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-10.5% per year) and Poland (0.0% per year).

In value terms, the UK ($X) emerged as the key foreign market for honing or lapping machines for working metal exports from Portugal, comprising 55% of total exports. The second position in the ranking was held by Angola ($X), with a 6.2% share of total exports. It was followed by Italy, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +1,575.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-26.0% per year) and Italy (+15.2% per year).

Export Prices by Country

The average metal honing machine export price stood at $X per unit in 2021, which is down by -37.7% against the previous year. Overall, the export price continues to indicate a deep reduction. The pace of growth was the most pronounced in 2015 an increase of 213%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Poland ($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 Hungary (+122.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Honing Machine Imports

Imports into Portugal

Metal honing machine imports into Portugal declined significantly to X units in 2021, waning by -51.4% compared with the previous year's figure. Overall, imports showed a drastic downturn. The growth pace was the most rapid in 2017 with an increase of 330% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal honing machine imports reduced markedly to $X in 2021. Over the period under review, imports showed a dramatic curtailment. The pace of growth was the most pronounced in 2018 when imports increased by 763%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Italy (X units) constituted the largest metal honing machine supplier to Portugal, with a 69% share of total imports. Moreover, metal honing machine imports from Italy exceeded the figures recorded by the second-largest supplier, the UK (X units), fourfold. The third position in this ranking was held by China (X units), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+88.6% per year) and China (-33.2% per year).

In value terms, Italy ($X) constituted the largest supplier of honing or lapping machines for working metal to Portugal, comprising 80% of total imports. The second position in the ranking was held by the UK ($X), with a 15% share of total imports. It was followed by Taiwan (Chinese), with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+86.4% per year) and Taiwan (Chinese) (-16.5% per year).

Import Prices by Country

The average metal honing machine import price stood at $X per unit in 2021, dropping by -31.3% against the previous year. Overall, the import price saw a deep slump. The growth pace was the most rapid in 2018 when the average import price increased by 2,203% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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 Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+184.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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