Thailand: Market for Grinding, Sanding and Polishing Machines 2022

Market Size for Grinding, Sanding and Polishing Machines in Thailand

The Thai market for grinding, sanding and polishing machines shrank to $X in 2021, falling by -5.6% 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). Overall, consumption, however, recorded a deep contraction. Grinding, sanding and polishing machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports from Thailand

In 2021, approx. X units of grinding, sanding and polishing machines were exported from Thailand; falling by -59.7% against 2020 figures. In general, exports showed a dramatic decrease. The pace of growth appeared the most rapid in 2015 with an increase of 31%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, grinding, sanding and polishing machine exports plummeted to $X in 2021. Over the period under review, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2018 when exports increased by 85%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Myanmar (X units) was the main destination for grinding, sanding and polishing machine exports from Thailand, accounting for a 61% share of total exports. Moreover, grinding, sanding and polishing machine exports to Myanmar exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X units), fourfold. The third position in this ranking was taken by Japan (X units), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to Myanmar totaled +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-25.0% per year) and Japan (-23.8% per year).

In value terms, Botswana ($X) emerged as the key foreign market for grinding, sanding and polishing machine exports from Thailand, comprising 53% of total exports. The second position in the ranking was taken by Japan ($X), with a 17% share of total exports. It was followed by Lao People's Democratic Republic, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Botswana was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-18.3% per year) and Lao People's Democratic Republic (-26.5% per year).

Export Prices by Country

In 2021, the average export price for grinding, sanding and polishing machines amounted to $X per unit, which is down by -21.3% against the previous year. Over the period under review, the export price continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 98%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Botswana ($X per unit), while the average price for exports to Myanmar ($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 States (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding, Sanding and Polishing Machines

Imports into Thailand

In 2021, purchases abroad of grinding, sanding and polishing machines increased by 2.5% to X units, rising for the fourth year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2015 with an increase of 53%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, grinding, sanding and polishing machine imports declined rapidly to $X in 2021. Overall, imports, however, continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 34% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest grinding, sanding and polishing machine supplier to Thailand, accounting for a 75% share of total imports. Moreover, grinding, sanding and polishing machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. Japan (X units) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.8% per year) and Japan (-25.6% per year).

In value terms, the largest grinding, sanding and polishing machine suppliers to Thailand were Germany ($X), China ($X) and Japan ($X), with a combined 94% share of total imports.

China, with a CAGR of +1.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for grinding, sanding and polishing machines stood at $X per unit in 2021, shrinking by -20.4% against the previous year. Overall, the import price faced a abrupt contraction. The pace of growth was the most pronounced in 2017 an increase of 43% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices stood 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 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 (+6.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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