Indonesia: Stone Polishing Machine Market 2023

Stone Polishing Machine Market Size in Indonesia

The Indonesian stone polishing machine market dropped sharply to $X in 2021, which is down by -78% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a drastic downturn. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Stone Polishing Machine Exports

Exports from Indonesia

In 2021, approx. X units of grinding or polishing machines for working stone, ceramics and concrete were exported from Indonesia; reducing by -20% on 2020. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 2,280%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, stone polishing machine exports skyrocketed to $X in 2021. In general, exports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 1,415%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X units) was the main destination for stone polishing machine exports from Indonesia, with a 72% share of total exports. Moreover, stone polishing machine exports to South Korea exceeded the volume sent to the second major destination, Singapore (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume to South Korea stood at +6.3%.

In value terms, South Korea ($X) remains the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Indonesia, comprising 83% of total exports. The second position in the ranking was taken by Singapore ($X), with a 14% share of total exports. It was followed by China, with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +53.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+27.4% per year) and China (-55.6% per year).

Export Prices by Country

In 2021, the average stone polishing machine export price amounted to $X per unit, growing by 50% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. The growth pace was the most rapid in 2017 when the average export price increased by 95% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per unit), while the average price for exports to Timor-Leste ($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 Timor-Leste (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Stone Polishing Machine Imports

Imports into Indonesia

In 2021, stone polishing machine imports into Indonesia fell significantly to X units, reducing by -84.1% compared with the previous year's figure. Overall, imports recorded a abrupt contraction. The growth pace was the most rapid in 2019 when imports increased by 2,956%. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, stone polishing machine imports totaled $X in 2021. Over the period under review, imports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2019 when imports increased by 2,096% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

South Korea (X units), China (X units) and Italy (X units) were the main suppliers of stone polishing machine imports to Indonesia, with a combined 95% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +47.1%), while purchases for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of grinding or polishing machines for working stone, ceramics and concrete to Indonesia, comprising 76% of total imports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total imports. It was followed by Germany, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+35.6% per year) and Germany (+8.3% per year).

Import Prices by Country

The average stone polishing machine import price stood at $X per unit in 2021, jumping by 554% against the previous year. Over the period under review, the import price recorded a significant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+32.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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