Thailand: Stone Polishing Machine Market 2023

Stone Polishing Machine Market Size in Thailand

In 2021, the Thai stone polishing machine market increased by 158% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Stone Polishing Machine Exports

Exports from Thailand

In 2021, the amount of grinding or polishing machines for working stone, ceramics and concrete exported from Thailand dropped sharply to X units, waning by -96.9% against the previous year. In general, exports faced a precipitous decrease. The pace of growth was the most pronounced in 2020 when exports increased by 1,780% against the previous year. As a result, the exports reached the peak of X units, and then dropped sharply in the following year.

In value terms, stone polishing machine exports shrank rapidly to $X in 2021. Overall, exports recorded a dramatic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 1,930% against the previous year. As a result, the exports reached the peak of $X, and then shrank dramatically in the following year.

Exports by Country

The United Arab Emirates (X units) was the main destination for stone polishing machine exports from Thailand, accounting for a 90% share of total exports. Moreover, stone polishing machine exports to the United Arab Emirates exceeded the volume sent to the second major destination, Angola (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled -5.3%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Thailand, comprising 96% of total exports. The second position in the ranking was held by Angola ($X), with a 1.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (0.0% per year) and Vietnam (-71.2% per year).

Export Prices by Country

The average stone polishing machine export price stood at $X per unit in 2021, shrinking by -26.8% against the previous year. Overall, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2018 an increase of 75%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per unit), while the average price for exports to Angola ($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 the United Arab Emirates (-2.9%).

Stone Polishing Machine Imports

Imports into Thailand

In 2021, supplies from abroad of grinding or polishing machines for working stone, ceramics and concrete increased by 111% to X units, rising for the second consecutive year after two years of decline. In general, imports, however, showed a abrupt downturn. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, stone polishing machine imports rose sharply to $X in 2021. Overall, imports, however, continue to indicate a precipitous setback. The growth pace was the most rapid in 2017 when imports increased by 107%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of stone polishing machine to Thailand, with a 94% share of total imports. Moreover, stone polishing machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 0.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-7.3% per year) and Taiwan (Chinese) (-34.4% per year).

In value terms, China ($X) constituted the largest supplier of grinding or polishing machines for working stone, ceramics and concrete to Thailand, comprising 81% of total imports. The second position in the ranking was taken by Italy ($X), with a 9.5% share of total imports. It was followed by Japan, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-14.6% per year) and Japan (-43.1% per year).

Import Prices by Country

In 2021, the average stone polishing machine import price amounted to $X per unit, with a decrease of -47.5% against the previous year. Overall, the import price showed a abrupt setback. The growth pace was the most rapid in 2016 when the average import price increased by 69%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while the price for China ($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 (+20.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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