Asia: Market for Machine-Tools For Working Stone, Ceramics, And Concrete 2023

Market Size for Machine-Tools For Working Stone, Ceramics, And Concrete in Asia

In 2022, the Asian market for machine-tools for working stone, ceramics, and concrete decreased by -20% to $X, falling for the third year in a row after six years of growth. The total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -38.6% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Machine-Tools For Working Stone, Ceramics, And Concrete in Asia

In value terms, machine tools for working stone production amounted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 70% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Machine-Tools For Working Stone, Ceramics, And Concrete

Exports in Asia

In 2022, overseas shipments of machine-tools for working stone, ceramics, and concrete increased by 15% to X units, rising for the seventh consecutive year after two years of decline. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +102.5% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 43%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, machine tools for working stone exports reached $X in 2022. In general, exports, however, saw a mild decline. The growth pace was the most rapid in 2018 with an increase of 22% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, amounting to X units, which was near 78% of total exports in 2022. It was distantly followed by Japan (X units) and Turkey (X units), together comprising a 15% share of total exports. South Korea (X units) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to machine tools for working stone exports from China stood at +10.8%. At the same time, Turkey (+11.6%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +11.6% from 2012-2022. By contrast, Japan (-1.0%) and South Korea (-4.5%) illustrated a downward trend over the same period. While the share of China (+27 p.p.) and Turkey (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-3.9 p.p.) and Japan (-7.7 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest machine tools for working stone supplier in Asia, comprising 60% of total exports. The second position in the ranking was held by Japan ($X), with a 26% share of total exports. It was followed by South Korea, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +1.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-2.4% per year) and South Korea (-0.8% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, declining by -8% against the previous year. In general, the export price saw a abrupt contraction. The growth pace was the most rapid in 2018 when the export price increased by 8.2%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.9%), while the other leaders experienced a decline in the export price figures.

Imports of Machine-Tools For Working Stone, Ceramics, And Concrete

Imports in Asia

In 2022, machine tools for working stone imports in Asia reduced to X units, with a decrease of -12.2% on the previous year's figure. In general, imports showed a slight slump. The most prominent rate of growth was recorded in 2016 with an increase of 34%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, machine tools for working stone imports shrank to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 28% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X units), distantly followed by China (X units), Vietnam (X units) and Turkey (X units) were the key importers of machine-tools for working stone, ceramics, and concrete, together making up 62% of total imports. Indonesia (X units), South Korea (X units), the United Arab Emirates (X units), Iran (X units), Taiwan (Chinese) (X units), Malaysia (X units), Singapore (X units), Jordan (X units) and Kazakhstan (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, with a combined 65% share of total imports. Turkey, South Korea, Singapore, Taiwan (Chinese), the United Arab Emirates, Malaysia, Iran, Kazakhstan, Indonesia and Jordan lagged somewhat behind, together comprising a further 21%.

Jordan, with a CAGR of +16.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, declining by -1.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2018 when the import price increased by 12% against the previous year. The level of import peaked at $X per unit in 2020; however, from 2021 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 China ($X per unit), while Jordan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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