Eastern Asia: Market for Railway Or Tramway Track Construction Material Of Iron Or Steel 2024

Market Size for Railway Or Tramway Track Construction Material Of Iron Or Steel in Eastern Asia

For the fourth year in a row, the East Asian market for railway or tramway track construction material of iron or steel recorded growth in sales value, which increased by 0.9% to $X in 2021. The market value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Railway Or Tramway Track Construction Material Of Iron Or Steel in Eastern Asia

In value terms, production of railway or tramway track construction material of iron or steel totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 23% against the previous year. Over the period under review, production of attained the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Exports in Eastern Asia

In 2021, the amount of railway or tramway track construction material of iron or steel exported in Eastern Asia reached X tons, growing by 6.2% compared with the year before. Overall, exports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2015 with an increase of 19%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of railway or tramway track construction material of iron or steel skyrocketed to $X in 2021. In general, exports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 25% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) and Japan (X tons) prevails in steel structure, together making up 97% of total exports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by South Korea (with a CAGR of -1.7%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest iron and steel railway construction materials supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 100% of total exports.

South Korea, with a CAGR of +3.1%, recorded 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 a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, surging by 12% against the previous year. Over the period under review, the export price, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2018 an increase of 13% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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 South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Imports in Eastern Asia

For the fourth consecutive year, Eastern Asia recorded growth in supplies from abroad of railway or tramway track construction material of iron or steel, which increased by 19% to X tons in 2021. In general, imports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2018 with an increase of 45% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, imports of railway or tramway track construction material of iron or steel soared to $X in 2021. Over the period under review, imports, however, saw a mild setback. The most prominent rate of growth was recorded in 2018 when imports increased by 47% against the previous year. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons) and Taiwan (Chinese) (X tons) represented roughly 74% of total imports in 2021. South Korea (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (5.7%). The following importers - Democratic People's Republic of Korea (X tons) and Japan (X tons) - each amounted to a 5.8% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Hong Kong SAR (with a CAGR of +6.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) were the countries with the highest levels of imports in 2021, with a combined 80% share of total imports. These countries were followed by Hong Kong SAR, Japan and Democratic People's Republic of Korea, which together accounted for a further 20%.

In terms of the main importing countries, Hong Kong SAR, with a CAGR of +8.3%, recorded the highest rates of growth with regard to 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

In 2021, the import price in Eastern Asia amounted to $X per ton, with an increase of 7.4% against the previous year. Over the last nine years, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2015 when the import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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