Thailand: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Thailand

In 2022, after two years of growth, there was decline in the Thai stone polishing machine market, when its value decreased by -2% to $X. Overall, consumption recorded a pronounced shrinkage. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Stone Polishing Machine Exports

Exports from Thailand

In 2022, approx. X units of grinding or polishing machines for working stone, ceramics and concrete were exported from Thailand; jumping by 129% on the year before. Overall, exports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2015 when exports increased by 236%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, stone polishing machine exports stood at $X in 2022. In general, exports, however, faced a sharp downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 1,931% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Japan (X units), South Africa (X units) and Myanmar (X units) were the main destinations of stone polishing machine exports from Thailand, together accounting for 89% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +106.7%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Thailand, comprising 62% of total exports. The second position in the ranking was taken by South Africa ($X), with a 21% share of total exports. It was followed by Myanmar, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to +32.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+49.2% per year) and Myanmar (+48.7% per year).

Export Prices by Country

In 2022, the average stone polishing machine export price amounted to $X per unit, which is down by -50.9% against the previous year. Overall, the export price faced a abrupt descent. The pace of growth appeared the most rapid in 2020 when the average export price increased by 998%. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+34.0%), while the prices for the other major destinations experienced mixed trend patterns.

Stone Polishing Machine Imports

Imports into Thailand

After two years of growth, purchases abroad of grinding or polishing machines for working stone, ceramics and concrete decreased by -2.6% to X units in 2022. Overall, imports, however, posted a perceptible increase. The growth pace was the most rapid in 2017 when imports increased by 147%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, stone polishing machine imports expanded significantly to $X in 2022. Over the period under review, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 107%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of stone polishing machine to Thailand, with a 99% share of total imports. It was followed by Germany (X units), with a 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-32.3% per year) and Japan (-36.5% per year).

In value terms, China ($X) constituted the largest supplier of grinding or polishing machines for working stone, ceramics and concrete to Thailand, comprising 84% of total imports. The second position in the ranking was held by Japan ($X), with a 5.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-37.9% per year) and Germany (-32.0% per year).

Import Prices by Country

In 2022, the average stone polishing machine import price amounted to $X per unit, with an increase of 10% against the previous year. Overall, the import price, however, showed a sharp reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 19% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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