Report Update: May 1, 2024

Philippines - Grinding And Sharpening Metal Finishing Machines - Market Analysis, Forecast, Size, Trends and Insights

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Price for Grinding and Sharpening Machine in the Philippines - 2023

Price for Grinding and Sharpening Machine in the Philippines (CIF) - 2022

In 2022, the average grinding and sharpening machine import price amounted to $1,488 per unit, increasing by 17% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 an increase of 21% against the previous year. As a result, import price reached the peak level of $4,689 per unit. From 2014 to 2022, the average 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 Hong Kong SAR ($3,283 per unit), while the price for Germany ($153 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.8%), while the prices for the other major suppliers experienced a decline.

Price for Grinding and Sharpening Machine in the Philippines (FOB) - 2022

The average grinding and sharpening machine export price stood at $3,403 per unit in 2022, picking up by 116% against the previous year. Overall, the export price showed a notable expansion. The pace of growth was the most pronounced in 2020 an increase of 625%. As a result, the export price attained the peak level of $8,174 per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($12,000 per unit), while the average price for exports to Japan ($36 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 Thailand (+88.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding and Sharpening Machine in the Philippines

In 2022, purchases abroad of grinding and sharpening metal finishing machines decreased by -14.3% to 5.1K units, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by 7.4% against the previous year. As a result, imports reached the peak of 7.5K units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, grinding and sharpening machine imports amounted to $7.6M in 2022. Overall, imports saw a deep setback. The pace of growth was the most pronounced in 2020 with an increase of 26%. As a result, imports reached the peak of $12M. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Grinding and Sharpening Machine in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	3.1	4.7	2.3	4.3	11.5%
South Korea	0.1	0.7	1.4	1.1	122.4%
China	2.7	3.4	0.7	1.0	-28.2%
Taiwan (Chinese)	0.5	0.2	0.6	0.5	0.0%
Singapore	1.4	1.9	1.7	0.5	-29.1%
United States	0.2	0.1	0.2	N/A	0.0%
Germany	0.4	0.3	0.1	N/A	-50.0%
Others	1.0	0.6	0.8	0.1	-53.6%
Total	9.4	11.8	7.6	7.6	-6.8%

Top Suppliers of Grinding and Sharpening Machine to the Philippines in 2022:

China (1840.0 units)
Japan (1450.0 units)
South Korea (583.0 units)
Taiwan (Chinese) (419.0 units)
Singapore (400.0 units)
Germany (149.0 units)
United States (131.0 units)

Exports of Grinding and Sharpening Machine in the Philippines

Grinding and sharpening machine exports from the Philippines reduced notably to 59 units in 2022, shrinking by -82.6% against the previous year's figure. Overall, exports continue to indicate a sharp descent. The growth pace was the most rapid in 2021 with an increase of 431%. As a result, the exports reached the peak of 340 units, and then shrank notably in the following year.

In value terms, grinding and sharpening machine exports shrank rapidly to $201K in 2022. In general, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 284%. The exports peaked at $536K in 2021, and then dropped dramatically in the following year.

Export of Grinding and Sharpening Machine in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	14.7	1.3	16.9	131	107.3%
Germany	N/A	N/A	N/A	25.9	0%
China	6.2	N/A	32.4	21.0	50.2%
Italy	9.0	36.5	13.7	12.0	10.1%
Vietnam	16.1	69.6	31.4	10.0	-14.7%
United States	N/A	N/A	N/A	0.6	0%
Japan	5.8	24.1	200	0.1	-74.2%
Papua New Guinea	1.3	N/A	N/A	N/A	0%
Taiwan (Chinese)	51.1	306	173	N/A	84.0%
Others	32.3	85.6	68.1	N/A	45.2%
Total	136	523	536	201	13.9%

Top Export Markets for Grinding and Sharpening Machine from the Philippines in 2022:

Thailand (38.0 units)
Germany (13.0 units)
Japan (3.0 units)
China (2.0 units)
Italy (1.0 units)
United States (1.0 units)
Vietnam (1.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for grinding and sharpening machine in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28412305 - Numerically controlled flat-surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412315 - Numerically controlled cylindrical surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412325 - Other numerically controlled grinding machines in which the positioning in any one axis can be set up to accuracy > 0,01 mm
Prodcom 28412335 - Non-numerically controlled flat-surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412345 - Non-numerically controlled cylindrical surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412355 - Grinding machines for working metal, any one axis can be set to an accuracy . 0,01 mm excluding flat-surface grinding machines, cylindrical surface grinding machines
Prodcom 28412365 - Numerically controlled sharpening (tool or cutter grinding) m achines for working metal
Prodcom 28412375 - Non-numerically controlled sharpening (tool or cutter grinding) machines for working metal

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023