Pakistan: Stone Polishing Machine Market 2023

Stone Polishing Machine Market Size in Pakistan

After two years of decline, the Pakistani stone polishing machine market increased by 39% to $X in 2021. In general, consumption showed resilient growth. Stone polishing machine consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Stone Polishing Machine Exports

Exports from Pakistan

After two years of growth, overseas shipments of grinding or polishing machines for working stone, ceramics and concrete decreased by -82.4% to X units in 2021. In general, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2019 with an increase of 250% against the previous year. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, stone polishing machine exports contracted markedly to $X in 2021. Overall, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 660%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Afghanistan (X units), Kenya (X units) and the UK (X units) were the main destinations of stone polishing machine exports from Pakistan.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Afghanistan (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, Afghanistan ($X) emerged as the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Pakistan, comprising 32% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 13% share of total exports. It was followed by Kenya, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Afghanistan amounted to +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-21.4% per year) and Kenya (-23.4% per year).

Export Prices by Country

The average stone polishing machine export price stood at $X per unit in 2021, shrinking by -4.8% against the previous year. In general, the export price recorded a deep reduction. The pace of growth was the most pronounced in 2019 an increase of 114% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Bangladesh ($X per unit), while the average price for exports to the UK ($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 Afghanistan (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Stone Polishing Machine Imports

Imports into Pakistan

In 2021, imports of grinding or polishing machines for working stone, ceramics and concrete into Pakistan skyrocketed to X units, increasing by 38% compared with 2020 figures. Over the period under review, imports saw strong growth. The growth pace was the most rapid in 2017 when imports increased by 103%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, stone polishing machine imports skyrocketed to $X in 2021. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 130%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of stone polishing machine to Pakistan, accounting for a 62% share of total imports. Moreover, stone polishing machine imports from China exceeded the figures recorded by the second-largest supplier, the UK (X units), eightfold. The United States (X units) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.1% per year) and the United States (+48.0% per year).

In value terms, China ($X) constituted the largest supplier of grinding or polishing machines for working stone, ceramics and concrete to Pakistan, comprising 65% of total imports. The second position in the ranking was taken by the UK ($X), with an 8.8% share of total imports. It was followed by Sweden, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-3.2% per year) and Sweden (+2.3% per year).

Import Prices by Country

In 2021, the average stone polishing machine import price amounted to $X per unit, stabilizing at the previous year. In general, the import price, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 28% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per unit), while the price for the United States ($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 (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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