Eastern Asia: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in Eastern Asia

The East Asian hollow drill bar market surged to $X in 2022, rising by X% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Hollow Drill Bar Production in Eastern Asia

In value terms, hollow drill bar production stood at $X in 2022 estimated in export price. Overall, production saw a slight setback. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Hollow Drill Bar Exports

Exports in Eastern Asia

In 2022, shipments abroad of hollow drill bars and rods decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a mild contraction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced dramatically in the following year.

In value terms, hollow drill bar exports shrank to $X in 2022. Overall, exports, however, showed moderate growth. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

Japan (X tons) and China (X tons) represented the largest exporters of hollow drill bars and rods in 2022, resulting at approx. X% and X% of total exports, respectively. Hong Kong SAR (X tons) ranks next in terms of the total exports with an X% share, followed by Taiwan (Chinese) (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Hong Kong SAR (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Japan ($X) remains the largest hollow drill bar supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hollow drill bar export price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced mixed trends in the export price figures.

Hollow Drill Bar Imports

Imports in Eastern Asia

In 2022, after two years of growth, there was decline in supplies from abroad of hollow drill bars and rods, when their volume decreased by X% to X tons. Overall, imports, however, showed resilient growth. The growth pace was the most rapid in 2020 when imports increased by X%. The volume of import peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, hollow drill bar imports rose rapidly to $X in 2022. In general, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

South Korea prevails in imports structure, reaching X tons, which was approx. X% of total imports in 2022. Democratic People's Republic of Korea (X tons) held a minor share of total imports.

South Korea was also the fastest-growing in terms of the hollow drill bars and rods imports, with a CAGR of X% from 2012 to 2022. Democratic People's Republic of Korea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea increased by X percentage points.

In value terms, South Korea ($X) constitutes the largest market for imported hollow drill bars and rods in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Democratic People's Republic of Korea ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Korea amounted to X%.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Democratic People's Republic of Korea amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%).

Source: IndexBox Platform

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