Non-Domestic Dryer Market

Driven by increasing demand for non-domestic dryers worldwide, the market is forecasted to grow with a CAGR of +1.9% in volume and +0.8% in value from 2022 to 2030. Global consumption and production have shown steady growth, with China leading both exports and imports of non-domestic dryers. The market is expected to see gradual growth in the immediate term, with notable fluctuations in consumption and production trends over the years.

Market Forecast

Driven by increasing demand for non-domestic dryers worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 3.8M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +0.8% for the period from 2022 to 2030, which is projected to bring the market value to $12B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Non-Domestic Dryers

Global non-domestic dryer consumption soared to 3.2M units in 2022, rising by 35% against 2021. In general, the total consumption indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.3% against 2019 indices. Global consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

The global non-domestic dryer market value soared to $11.3B in 2022, increasing by 37% 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). Over the period under review, consumption saw a prominent expansion. Over the period under review, the global market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Egypt (503K units), the Philippines (454K units) and Mexico (298K units), together accounting for 39% of global consumption. Brazil, the United States, Russia, Canada, China, Kuwait, India, the United Arab Emirates and Chile lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +68.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($8B) led the market, alone. The second position in the ranking was held by the Philippines ($683M). It was followed by India.

In Russia, the non-domestic dryer market expanded at an average annual rate of +17.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Philippines (+39.8% per year) and India (+9.0% per year).

In 2022, the highest levels of non-domestic dryer per capita consumption was registered in Kuwait (26 units per 1000 persons), followed by the United Arab Emirates (10 units per 1000 persons), Egypt (4.7 units per 1000 persons) and Canada (4.1 units per 1000 persons), while the world average per capita consumption of non-domestic dryer was estimated at 0.4 units per 1000 persons.

In Kuwait, non-domestic dryer per capita consumption increased at an average annual rate of +65.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+14.2% per year) and Egypt (+17.8% per year).

Production

World Production of Non-Domestic Dryers

Global non-domestic dryer production soared to 3.9M units in 2022, jumping by 19% on 2021 figures. Overall, production enjoyed a strong increase. The growth pace was the most rapid in 2018 with an increase of 38% against the previous year. Over the period under review, global production hit record highs in 2022 and is expected to retain growth in the near future.

In value terms, non-domestic dryer production dropped to $2.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 20% against the previous year. Global production peaked at $2.6B in 2017; however, from 2018 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of non-domestic dryer production was China (3.5M units), comprising approx. 90% of total volume.

From 2012 to 2022, the average annual growth rate of volume in China stood at +16.2%.

Imports

World Imports of Non-Domestic Dryers

In 2022, the amount of non-domestic dryers imported worldwide surged to 3.3M units, increasing by 34% compared with 2021. In general, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +8.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 37%. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, non-domestic dryer imports reached $2.3B in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 11%. Over the period under review, global imports hit record highs at $2.3B in 2019; afterwards, it flattened through to 2022.

Imports By Country

The purchases of the seven major importers of non-domestic dryers, namely Egypt, the Philippines, Mexico, the United States, Brazil, Russia and Canada, represented more than two-thirds of total import. Kuwait (112K units), the United Arab Emirates (101K units), India (101K units), Taiwan (Chinese) (74K units), China (56K units) and Chile (55K units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +39.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($273M), China ($214M) and India ($127M) constituted the countries with the highest levels of imports in 2022, with a combined 27% share of global imports. Russia, Mexico, Canada, Brazil, Taiwan (Chinese), the United Arab Emirates, the Philippines, Egypt, Chile and Kuwait lagged somewhat behind, together accounting for a further 14%.

The Philippines, with a CAGR of +15.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average non-domestic dryer import price stood at $682 per unit in 2022, declining by -24.8% against the previous year. Overall, the import price showed a slight descent. The most prominent rate of growth was recorded in 2014 an increase of 35% against the previous year. Over the period under review, average import prices reached the maximum at $1,077 per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($3,802 per unit), while Egypt ($30 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Non-Domestic Dryers

In 2022, the amount of non-domestic dryers exported worldwide surged to 4M units, growing by 19% against the previous year's figure. In general, exports saw buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 39%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, non-domestic dryer exports fell slightly to $2.3B in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 17%. As a result, the exports reached the peak of $2.3B, leveling off in the following year.

Exports By Country

China dominates exports structure, amounting to 3.5M units, which was approx. 87% of total exports in 2022. Taiwan (Chinese) (87K units) took a relatively small share of total exports.

China was also the fastest-growing in terms of the non-domestic dryers exports, with a CAGR of +16.6% from 2012 to 2022. At the same time, Taiwan (Chinese) (+6.3%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +15 percentage points.

In value terms, China ($627M) remains the largest non-domestic dryer supplier worldwide, comprising 28% of global exports. The second position in the ranking was taken by Taiwan (Chinese) ($48M), with a 2.1% share of global exports.

From 2012 to 2022, the average annual growth rate of value in China stood at +9.0%.

Export Prices By Country

In 2022, the average non-domestic dryer export price amounted to $565 per unit, waning by -16.1% against the previous year. Over the period under review, the export price faced a abrupt contraction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 12%. Over the period under review, the average export prices reached the peak figure at $1,945 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($553 per unit), while China stood at $182 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-3.7%).

Source: IndexBox Market Intelligence Platform