China: Market for Grinding, Sanding and Polishing Machines 2022

Market Size for Grinding, Sanding and Polishing Machines in China

The Chinese market for grinding, sanding and polishing machines shrank dramatically to $X in 2021, with a decrease of -84.5% against the previous year. In general, consumption showed a significant contraction. The most prominent rate of growth was recorded in 2013 with a decrease of -0.1%. Grinding, sanding and polishing machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Grinding, Sanding and Polishing Machines in China

In value terms, grinding, sanding and polishing machine production rose sharply to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 22%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports from China

In 2021, exports of grinding, sanding and polishing machines from China soared to X units, picking up by 40% against 2020 figures. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 96%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, grinding, sanding and polishing machine exports surged to $X in 2021. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 75%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for grinding, sanding and polishing machine exports from China, with a 42% share of total exports. Moreover, grinding, sanding and polishing machine exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. The UK (X units) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +24.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+49.1% per year) and the UK (+33.8% per year).

In value terms, the United States ($X) remains the key foreign market for grinding, sanding and polishing machine exports from China, comprising 20% of total exports. The second position in the ranking was held by Germany ($X), with a 7% share of total exports. It was followed by Russia, with a 4% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+20.3% per year) and Russia (+8.1% per year).

Export Prices by Country

In 2021, the average export price for grinding, sanding and polishing machines amounted to $X per unit, reducing by -11.9% against the previous year. Overall, the export price continues to indicate a perceptible decline. The growth pace was the most rapid in 2019 when the average export price increased by 52% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+3.3%), while the prices for the other major destinations experienced a decline.

Imports of Grinding, Sanding and Polishing Machines

Imports into China

In 2021, purchases abroad of grinding, sanding and polishing machines increased by 5.5% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a noticeable curtailment. The growth pace was the most rapid in 2017 with an increase of 54% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine imports surged to $X in 2021. Overall, imports, however, recorded a mild downturn. The growth pace was the most rapid in 2017 when imports increased by 75%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X units) constituted the largest grinding, sanding and polishing machine supplier to China, with a 62% share of total imports. Moreover, grinding, sanding and polishing machine imports from South Korea exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea stood at -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.8% per year) and Taiwan (Chinese) (-1.8% per year).

In value terms, Germany ($X), Japan ($X) and South Korea ($X) constituted the largest grinding, sanding and polishing machine suppliers to China, together comprising 55% of total imports.

South Korea, with a CAGR of +8.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for grinding, sanding and polishing machines amounted to $X per unit, with an increase of 43% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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