ASEAN: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in ASEAN

The ASEAN grinding and sharpening machine market rose sharply to $X in 2022, picking up by X% against the previous year. In general, consumption continues to indicate a prominent expansion. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Production of Grinding And Sharpening Metal Finishing Machines in ASEAN

In value terms, grinding and sharpening machine production rose notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in ASEAN

In 2022, after three years of growth, there was significant decline in shipments abroad of grinding and sharpening metal finishing machines, when their volume decreased by X% to X units. Over the period under review, exports, however, showed a modest expansion. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then shrank rapidly in the following year.

In value terms, grinding and sharpening machine exports contracted sharply to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then contracted significantly in the following year.

Exports by Country

Singapore represented the main exporter of grinding and sharpening metal finishing machines in ASEAN, with the volume of exports reaching X units, which was approx. X% of total exports in 2022. Vietnam (X units) held the second position in the ranking, followed by Thailand (X units). All these countries together held near X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Thailand ($X) remains the largest grinding and sharpening machine supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Thailand amounted to X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, jumping by X% against the previous year. Overall, the export price, however, recorded a noticeable downturn. The pace of growth was the most pronounced in 2018 when the export price increased by X% against the previous year. 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 ($X per unit), while Vietnam ($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 (X%), while the other leaders experienced a decline in the export price figures.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in ASEAN

In 2022, the amount of grinding and sharpening metal finishing machines imported in ASEAN skyrocketed to X units, with an increase of X% against the previous year. Overall, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, grinding and sharpening machine imports dropped to $X in 2022. In general, imports, however, faced a abrupt decrease. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X units), distantly followed by Thailand (X units), Myanmar (X units), the Philippines (X units), Singapore (X units), Indonesia (X units) and Malaysia (X units) represented the main importers of grinding and sharpening metal finishing machines, together committing X% of total imports.

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

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Malaysia, Indonesia, the Philippines and Myanmar lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, shrinking by X% against the previous year. In general, the import price recorded a dramatic contraction. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 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 Malaysia ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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