Asia-Pacific: Railway Sleeper Market 2024

Railway Sleeper Market Size in Asia-Pacific

The Asia-Pacific railway sleeper market declined to $X in 2021, stabilizing at the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Railway Sleeper Production in Asia-Pacific

In value terms, railway sleeper production contracted to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 23%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Railway Sleeper Exports

Exports in Asia-Pacific

In 2021, shipments abroad of railway or tramway sleepers (cross-ties) of wood increased by 24% to X cubic meters, rising for the fifth year in a row after three years of decline. Overall, exports posted a moderate increase. The pace of growth appeared the most rapid in 2013 with an increase of 87%. As a result, the exports reached the peak of X cubic meters. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, railway sleeper exports rose markedly to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 27% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Australia represented the main exporting country with an export of around X cubic meters, which reached 74% of total exports. South Korea (X cubic meters) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by Democratic People's Republic of Korea (4.7%).

From 2012 to 2021, average annual rates of growth with regard to railway sleeper exports from Australia stood at +24.5%. At the same time, South Korea (+94.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +94.8% from 2012-2021. By contrast, Democratic People's Republic of Korea (-14.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Australia and South Korea increased by +59 and +18 percentage points, respectively.

In value terms, Australia ($X), South Korea ($X) and Democratic People's Republic of Korea ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 95% of total exports.

South Korea, with a CAGR of +99.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per cubic meter in 2021, with a decrease of -10.1% against the previous year. Over the period under review, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2014 an increase of 117%. As a result, the export price reached the peak level of $X per cubic meter. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per cubic meter), while Democratic People's Republic of Korea ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.0%), while the other leaders experienced a decline in the export price figures.

Railway Sleeper Imports

Imports in Asia-Pacific

In 2021, after two years of decline, there was growth in supplies from abroad of railway or tramway sleepers (cross-ties) of wood, when their volume increased by 0.4% to X cubic meters. In general, imports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2014 when imports increased by 36% against the previous year. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, railway sleeper imports rose sharply to $X in 2021. Over the period under review, imports, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 64%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) was the major importer of railway or tramway sleepers (cross-ties) of wood in Asia-Pacific, with the volume of imports accounting for X cubic meters, which was near 38% of total imports in 2021. Thailand (X cubic meters) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (13%), Hong Kong SAR (7.4%), Pakistan (5.8%) and Singapore (5%). Tonga (X cubic meters) followed a long way behind the leaders.

Imports into Taiwan (Chinese) increased at an average annual rate of +16.1% from 2012 to 2021. At the same time, Hong Kong SAR (+28.4%), Singapore (+28.3%), Malaysia (+23.1%), Tonga (+17.2%), Thailand (+14.2%) and Pakistan (+4.6%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +28.4% from 2012-2021. From 2012 to 2021, the share of Taiwan (Chinese), Thailand, Malaysia, Hong Kong SAR, Singapore, Pakistan and Tonga increased by +33, +13, +12, +7, +4.7, +4 and +2.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported railway or tramway sleepers (cross-ties) of wood in Asia-Pacific, comprising 42% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 15% share of total imports. It was followed by Singapore, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Taiwan (Chinese) stood at +30.3%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+36.7% per year) and Singapore (+44.7% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per cubic meter, surging by 5.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.5%. The growth pace was the most rapid in 2014 an increase of 21%. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per cubic meter), while Thailand ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+14.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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