Malaysia: Market for Grinding, Sanding and Polishing Machines 2022

Market Size for Grinding, Sanding and Polishing Machines in Malaysia

The Malaysian market for grinding, sanding and polishing machines contracted to $X in 2021, reducing by -4.2% 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, however, posted prominent growth. 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.

Exports of Grinding, Sanding and Polishing Machines

Exports from Malaysia

Grinding, sanding and polishing machine exports from Malaysia skyrocketed to X units in 2021, growing by 44% on the previous year. In general, exports, however, faced a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 112%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, grinding, sanding and polishing machine exports skyrocketed to $X in 2021. Overall, exports, however, saw a deep setback. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X units), China (X units) and India (X units) were the main destinations of grinding, sanding and polishing machine exports from Malaysia, together accounting for 68% of total exports. Thailand, Singapore, the Philippines, Sri Lanka and Indonesia lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +53.0%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X) emerged as the key foreign market for grinding, sanding and polishing machine exports from Malaysia, comprising 34% of total exports. The second position in the ranking was taken by China ($X), with a 6.3% share of total exports. It was followed by Taiwan (Chinese), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to India stood at -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-10.0% per year) and Taiwan (Chinese) (-21.6% per year).

Export Prices by Country

The average export price for grinding, sanding and polishing machines stood at $X per unit in 2021, rising by 102% against the previous year. In general, the export price, however, recorded a deep contraction. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to Sri Lanka ($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 Indonesia (-3.1%), while the prices for the other major destinations experienced a decline.

Imports of Grinding, Sanding and Polishing Machines

Imports into Malaysia

In 2021, the amount of grinding, sanding and polishing machines imported into Malaysia reduced slightly to X units, dropping by -3.6% on the previous year's figure. Over the period under review, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2019 when imports increased by 160% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine imports declined to $X in 2021. Overall, imports, however, saw noticeable growth. The pace of growth appeared the most rapid in 2019 with an increase of 187% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of grinding, sanding and polishing machine to Malaysia, with a 77% share of total imports. Moreover, grinding, sanding and polishing machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +47.2%.

In value terms, China ($X) constituted the largest supplier of grinding, sanding and polishing machine to Malaysia, comprising 80% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +30.1%.

Import Prices by Country

In 2021, the average import price for grinding, sanding and polishing machines amounted to $X per unit, rising by 1.9% against the previous year. Overall, the import price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 when the average import price increased by 16% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for Taiwan (Chinese) totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-3.7%).

Source: IndexBox Market Intelligence Platform

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