South-Eastern Asia: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in South-Eastern Asia

The Southeast Asian grinding and sharpening machine market amounted to $X in 2022, standing approx. at the previous year. Over the period under review, consumption recorded a strong expansion. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Production of Grinding And Sharpening Metal Finishing Machines in South-Eastern Asia

In value terms, grinding and sharpening machine production amounted to $X in 2022 estimated in export price. Over the period under review, production saw strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 73% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in South-Eastern Asia

In 2022, approx. X units of grinding and sharpening metal finishing machines were exported in South-Eastern Asia; increasing by 21% compared with the previous year. In general, exports, however, showed a pronounced downturn. The growth pace was the most rapid in 2016 with an increase of 80%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, grinding and sharpening machine exports contracted to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 103%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Singapore (X units) was the largest exporter of grinding and sharpening metal finishing machines, creating 64% of total exports. Thailand (X units) held the second position in the ranking, distantly followed by Malaysia (X units) and Indonesia (X units). All these countries together took approx. 34% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to grinding and sharpening machine exports from Singapore stood at -5.1%. At the same time, Indonesia (+23.1%) and Malaysia (+11.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +23.1% from 2012-2022. By contrast, Thailand (-5.2%) illustrated a downward trend over the same period. Indonesia (+6.1 p.p.) and Malaysia (+6 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Singapore saw its share reduced by -3.1% and -8.9% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest grinding and sharpening machine supplier in South-Eastern Asia, comprising 88% of total exports. The second position in the ranking was taken by Singapore ($X), with a 7.3% share of total exports. It was followed by Malaysia, with a 2.1% share.

In Thailand, grinding and sharpening machine exports expanded at an average annual rate of +1.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-6.7% per year) and Malaysia (-2.5% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, dropping by -22.9% against the previous year. In general, the export price, however, continues to indicate a perceptible expansion. The growth pace was the most rapid in 2018 when the export price increased by 123%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.1%), while the other leaders experienced a decline in the export price figures.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in South-Eastern Asia

In 2022, after two years of decline, there was significant growth in purchases abroad of grinding and sharpening metal finishing machines, when their volume increased by 9.2% to X units. Over the period under review, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 38% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, grinding and sharpening machine imports expanded markedly to $X in 2022. Overall, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of grinding and sharpening machine imports in 2022 were Indonesia (X units), Singapore (X units) and Thailand (X units), together amounting to 58% of total import. It was distantly followed by the Philippines (X units), Malaysia (X units), Vietnam (X units) and Myanmar (X units), together mixing up a 37% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +9.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 80% share of total imports.

Among the main importing countries, Vietnam, with a CAGR of -0.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, leveling off at the previous year. Overall, the import price saw a abrupt setback. The pace of growth appeared the most rapid in 2018 when the import price increased by 24% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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