Asia: Market for Grinding, Sanding and Polishing Machines 2023

Market Size for Grinding, Sanding and Polishing Machines in Asia

In 2021, the Asian market for grinding, sanding and polishing machines decreased by -22.7% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then dropped notably in the following year.

Production of Grinding, Sanding and Polishing Machines in Asia

In value terms, grinding, sanding and polishing machine production contracted rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a strong expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by 158%. As a result, production reached the peak level of $X, and then reduced dramatically in the following year.

Exports of Grinding, Sanding and Polishing Machines

Exports in Asia

In 2021, overseas shipments of grinding, sanding and polishing machines increased by 57% to X units, rising for the fourth year in a row after two years of decline. Over the period under review, exports saw a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, grinding, sanding and polishing machine exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +70.5% against 2016 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 27%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

China represented the major exporting country with an export of about X units, which accounted for 81% of total exports. It was distantly followed by Taiwan (Chinese) (X units), comprising a 16% share of total exports.

China was also the fastest-growing in terms of the grinding, sanding and polishing machines exports, with a CAGR of +28.1% from 2012 to 2021. At the same time, Taiwan (Chinese) (+9.1%) displayed positive paces of growth. From 2012 to 2021, the share of China increased by +38 percentage points.

In value terms, China ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2021.

Among the main exporting countries, China, with a CAGR of +22.9%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, falling by -19.3% against the previous year. Over the period under review, the export price recorded a deep slump. The growth pace was the most rapid in 2017 when the export price increased by 20% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-4.0%).

Imports of Grinding, Sanding and Polishing Machines

Imports in Asia

In 2021, approx. X units of grinding, sanding and polishing machines were imported in Asia; jumping by 18% against the previous year's figure. Overall, imports posted a strong expansion. The growth pace was the most rapid in 2014 with an increase of 88%. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, grinding, sanding and polishing machine imports reached $X in 2021. Over the period under review, imports, however, saw a slight reduction. The growth pace was the most rapid in 2017 when imports increased by 31% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

India dominates imports structure, recording X units, which was near 78% of total imports in 2021. It was distantly followed by Thailand (X units), comprising a 5.2% share of total imports. Qatar (X units) and Indonesia (X units) held a minor share of total imports.

India was also the fastest-growing in terms of the grinding, sanding and polishing machines imports, with a CAGR of +39.2% from 2012 to 2021. Indonesia experienced a relatively flat trend pattern. Qatar (-8.9%) and Thailand (-9.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India increased by +67 percentage points.

In value terms, the largest grinding, sanding and polishing machine importing markets in Asia were India ($X), Thailand ($X) and Indonesia ($X), together comprising 18% of total imports.

Among the main importing countries, India, with a CAGR of -0.7%, recorded 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 Asia stood at $X per unit in 2021, dropping by -6% against the previous year. Over the period under review, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2013 when the import price increased by 52% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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