Mexico: Stone Polishing Machine Market 2023

Stone Polishing Machine Market Size in Mexico

In 2021, the Mexican stone polishing machine market decreased by -37.9% to $X, falling for the fourth year in a row after three years of growth. In general, consumption continues to indicate a noticeable downturn. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Stone Polishing Machine Exports

Exports from Mexico

After two years of growth, overseas shipments of grinding or polishing machines for working stone, ceramics and concrete decreased by -16.4% to X units in 2021. Overall, exports saw a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 303% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, stone polishing machine exports contracted to $X in 2021. Over the period under review, exports, however, recorded a modest increase. The most prominent rate of growth was recorded in 2014 when exports increased by 514%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for stone polishing machine exports from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -5.6%.

In value terms, the United States ($X) also remains the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Mexico.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +1.9%.

Export Prices by Country

In 2021, the average stone polishing machine export price amounted to $X per unit, picking up by 5% against the previous year. Over the period under review, the export price enjoyed a strong increase. The growth pace was the most rapid in 2013 an increase of 201% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +8.0% per year.

Stone Polishing Machine Imports

Imports into Mexico

In 2021, approx. X units of grinding or polishing machines for working stone, ceramics and concrete were imported into Mexico; reducing by -18.5% against the year before. Overall, imports, however, recorded temperate growth. The pace of growth appeared the most rapid in 2017 when imports increased by 84% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, stone polishing machine imports declined significantly to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 90% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X units), the United States (X units) and Japan (X units) were the main suppliers of stone polishing machine imports to Mexico, together comprising 95% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +46.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Japan ($X) constituted the largest stone polishing machine suppliers to Mexico, together comprising 81% of total imports.

Japan, with a CAGR of +67.3%, recorded the highest growth rate of 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 stone polishing machine import price amounted to $X per unit, reducing by -46.3% against the previous year. Overall, the import price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when the average import price increased by 58% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+14.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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