Asia-Pacific: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in Asia-Pacific

The Asia-Pacific hollow drill bar market rose rapidly to $X in 2021, picking up by 13% 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 2021, the growth of the market remained at a somewhat lower figure.

Hollow Drill Bar Production in Asia-Pacific

In value terms, hollow drill bar production reduced slightly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Hollow Drill Bar Exports

Exports in Asia-Pacific

In 2021, the amount of hollow drill bars and rods exported in Asia-Pacific rose notably to X tons, increasing by 9% compared with the previous year's figure. Overall, exports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 53%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hollow drill bar exports surged to $X in 2021. Over the period under review, exports, however, recorded a pronounced curtailment. The pace of growth was the most pronounced in 2018 with an increase of 65%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) and Japan (X tons) were the key exporters of hollow drill bars and rods in 2021, amounting to approx. 37% and 31% of total exports, respectively. India (X tons) took the next position in the ranking, distantly followed by Taiwan (Chinese) (X tons) and Thailand (X tons). All these countries together held approx. 25% share of total exports. The following exporters - Australia (X tons) and Hong Kong SAR (X tons) - each reached a 3.5% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Japan (with a CAGR of +16.5%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Thailand ($X) were the countries with the highest levels of exports in 2021, with a combined 72% share of total exports. Taiwan (Chinese), Hong Kong SAR, India and Australia lagged somewhat behind, together accounting for a further 24%.

Hong Kong SAR, with a CAGR of +17.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, rising by 14% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 37%. The level of export peaked at $X per ton in 2016; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+16.4%), while the other leaders experienced more modest paces of growth.

Hollow Drill Bar Imports

Imports in Asia-Pacific

In 2021, purchases abroad of hollow drill bars and rods increased by 6.2% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, showed a slight slump. The pace of growth appeared the most rapid in 2018 with an increase of 43%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hollow drill bar imports skyrocketed to $X in 2021. In general, imports, however, showed a noticeable shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 44% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

India (X tons), Indonesia (X tons), Myanmar (X tons), Australia (X tons) and South Korea (X tons) represented roughly 85% of total imports in 2021. It was distantly followed by Malaysia (X tons), committing a 4.5% share of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +32.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported hollow drill bars and rods in Asia-Pacific, comprising 40% of total imports. The second position in the ranking was held by India ($X), with a 15% share of total imports. It was followed by South Korea, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia was relatively modest. In the other countries, the average annual rates were as follows: India (-8.3% per year) and South Korea (+12.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, increasing by 21% against the previous year. Over the period under review, the import price, however, recorded a mild downturn. The pace of growth appeared the most rapid in 2017 an increase of 48% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+6.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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