Eastern Asia: Railway Sleeper Market 2024

Railway Sleeper Market Size in Eastern Asia

The East Asian railway sleeper market dropped to $X in 2021, waning by -2.9% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Railway Sleeper Production in Eastern Asia

In value terms, railway sleeper production shrank to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 21% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Railway Sleeper Exports

Exports in Eastern Asia

In 2021, overseas shipments of railway or tramway sleepers (cross-ties) of wood increased by 4.2% to X cubic meters, rising for the fifth consecutive year after two years of decline. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 36% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, railway sleeper exports expanded modestly to $X in 2021. In general, exports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2014 when exports increased by 57% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Korea represented the major exporting country with an export of around X cubic meters, which amounted to 79% of total exports. It was distantly followed by Democratic People's Republic of Korea (X cubic meters), creating a 20% share of total exports.

South Korea was also the fastest-growing in terms of the railway or tramway sleepers (cross-ties) of wood exports, with a CAGR of +94.8% from 2012 to 2021. Democratic People's Republic of Korea (-14.3%) illustrated a downward trend over the same period. South Korea (+79 p.p.) significantly strengthened its position in terms of the total exports, while Democratic People's Republic of Korea saw its share reduced by -57.3% from 2012 to 2021, respectively.

In value terms, South Korea ($X) remains the largest railway sleeper supplier in Eastern Asia, comprising 93% of total exports. The second position in the ranking was held by Democratic People's Republic of Korea ($X), with a 7.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Korea stood at +99.0%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per cubic meter, remaining constant against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 an increase of 15% against the previous year. 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.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per cubic meter), while Democratic People's Republic of Korea amounted to $X per cubic meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.0%).

Railway Sleeper Imports

Imports in Eastern Asia

In 2021, railway sleeper imports in Eastern Asia fell modestly to X cubic meters, dropping by -2.4% against the previous year's figure. Overall, imports recorded a abrupt curtailment. The growth pace was the most rapid in 2016 with an increase of 24% against the previous year. Over the period under review, imports reached the maximum at X cubic meters in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, railway sleeper imports rose remarkably to $X in 2021. Over the period under review, imports continue to indicate a noticeable contraction. The growth pace was the most rapid in 2014 with an increase of 24%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) represented the largest importer of railway or tramway sleepers (cross-ties) of wood in Eastern Asia, with the volume of imports amounting to X cubic meters, which was approx. 74% of total imports in 2021. It was distantly followed by Hong Kong SAR (X cubic meters), Japan (X cubic meters) and China (X cubic meters), together generating a 26% share of total imports.

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%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +28.4% from 2012-2021. By contrast, China (-23.0%) and Japan (-28.8%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+66 p.p.) and Hong Kong SAR (+14 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-16.3 p.p.) and Japan (-46.5 p.p.) displayed negative dynamics.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported railway or tramway sleepers (cross-ties) of wood in Eastern Asia, comprising 65% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 23% share of total imports. It was followed by Japan, with a 6.6% share.

In Taiwan (Chinese), railway sleeper imports expanded at an average annual rate of +30.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+36.7% per year) and Japan (-23.7% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per cubic meter, increasing by 7.7% against the previous year. Import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, railway sleeper import price increased by +32.3% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 25% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

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 ($X per cubic meter), while Taiwan (Chinese) ($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 China (+13.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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