Updated Sep 30, 2022 08:41

Abrasives Market in South-Eastern Asia

Market Overview
The Southeast Asian abrasives market stood at $ in , picking up by % 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). The total consumption indicated a noticeable increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2019 indices. Over the period under review, the market attained the maximum level at $ in 2019; however, from to , consumption remained at a lower figure.

In value terms, abrasives production fell slightly to $ in estimated in export price. Overall, production enjoyed a temperate increase. The pace of growth was the most pronounced in 2014 with an increase of %. Over the period under review, production reached the maximum level at $ in , and then declined modestly in the following year.

The country with the largest volume of abrasives production was Indonesia ( tons), accounting for % of total volume. Moreover, abrasives production in Indonesia exceeded the figures recorded by the second-largest producer, the Philippines ( tons), sixfold. Malaysia ( tons) ranked third in terms of total production with a % share.

From 2007 to , the average annual growth rate of volume in Indonesia amounted to +%. The remaining producing countries recorded the following average annual rates of production growth: the Philippines (+% per year) and Malaysia (+% per year).


Consumption
Abrasives consumption amounted to tons in , with an increase of % on the previous year. The total consumption indicated a pronounced increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against indices. The volume of consumption peaked at tons in 2019; however, from to , consumption failed to regain momentum.

The revenue of the abrasives market in South-Eastern Asia amounted to $ in , picking up by % 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). The total consumption indicated a temperate expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2019 indices. The level of consumption peaked at $ in 2019; afterwards, it flattened through to .


Consumption by Country
Indonesia ( tons) constituted the country with the largest volume of abrasives consumption, accounting for % of total volume. Moreover, abrasives consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia ( tons), threefold. The third position in this ranking was taken by the Philippines ( tons), with a % share.

From 2007 to , the average annual growth rate of volume in Indonesia amounted to +%. In the other countries, the average annual rates were as follows: Malaysia (+% per year) and the Philippines (+% per year).

In value terms, Indonesia ($), Lao People's Democratic Republic ($) and Malaysia ($) constituted the countries with the highest levels of market value in , together accounting for % of the total market.

Among the main consuming countries, Lao People's Democratic Republic, with a CAGR of +%, recorded the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.

In No countries abrasives per capita consumption remained relatively stable over the period from 2007-.


Market Forecast
Driven by increasing demand for abrasives in South-Eastern Asia, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .