Asia: Bar Draw-Bench Market 2024

Bar Draw-Bench Market Size in Asia

In 2021, the Asian bar draw-bench market increased by 112% to $X, rising for the sixth year in a row after two years of decline. Overall, consumption posted a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Bar Draw-Bench Production in Asia

In value terms, bar draw-bench production expanded sharply to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 82% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Bar Draw-Bench Exports

Exports in Asia

Bar draw-bench exports plummeted to X units in 2021, with a decrease of -24.2% compared with the previous year. Overall, exports saw a pronounced reduction. The pace of growth appeared the most rapid in 2019 when exports increased by 82%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, bar draw-bench exports skyrocketed to $X in 2021. In general, exports showed a noticeable descent. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X units), Turkey (X units) and India (X units) represented the key exporter of draw-benches for bars, tubes, profiles, wire or the like in Asia, comprising 73% of total export. It was distantly followed by Taiwan (Chinese) (X units) and South Korea (X units), together committing a 20% share of total exports. Japan (X units) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +39.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and India ($X) were the countries with the highest levels of exports in 2021, with a combined 83% share of total exports.

Among the main exporting countries, Turkey, with a CAGR of +14.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, increasing by 85% against the previous year. Export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bar draw-bench export price increased by +129.8% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.4%), while the other leaders experienced more modest paces of growth.

Bar Draw-Bench Imports

Imports in Asia

In 2021, purchases abroad of draw-benches for bars, tubes, profiles, wire or the like increased by 10% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, bar draw-bench imports surged to $X in 2021. In general, imports, however, recorded a abrupt decline. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units), distantly followed by India (X units), Indonesia (X units), Taiwan (Chinese) (X units), Vietnam (X units), Turkey (X units) and Iraq (X units) were the main importers of draw-benches for bars, tubes, profiles, wire or the like, together generating 78% of total imports. Thailand (X units) and South Korea (X units) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +18.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2021, with a combined 49% share of total imports. Iraq, Vietnam, India, Thailand, Indonesia and South Korea lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, Iraq, with a CAGR of +31.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, increasing by 21% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2014 when the import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Turkey ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+14.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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