Hong Kong SAR, China: Hollow Drill Bar Market 2025

Hollow Drill Bar Market Size in Hong Kong SAR, China

In 2021, the Hong Kong hollow drill bar market increased by 146% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a deep slump. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Hollow Drill Bar Production in Hong Kong SAR, China

In value terms, hollow drill bar production dropped rapidly to $X in 2021 estimated in export price. In general, production recorded a measured expansion. The pace of growth was the most pronounced in 2020 with an increase of 48%. As a result, production attained the peak level of $X, and then dropped notably in the following year.

Hollow Drill Bar Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of hollow drill bars and rods decreased by -32% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, exports, however, posted a resilient increase. The growth pace was the most rapid in 2018 when exports increased by 392% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then declined dramatically in the following year.

In value terms, hollow drill bar exports rose markedly to $X in 2021. Overall, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 644% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

India (X tons), the Philippines (X tons) and Indonesia (X tons) were the main destinations of hollow drill bar exports from Hong Kong SAR, with a combined 88% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +127.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the Philippines ($X) remains the key foreign market for hollow drill bars and rods exports from Hong Kong SAR, comprising 44% of total exports. The second position in the ranking was held by India ($X), with an 8.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the Philippines amounted to +135.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+37.6% per year) and Indonesia (-24.2% per year).

Export Prices by Country

The average hollow drill bar export price stood at $X per ton in 2021, with an increase of 68% against the previous year. Overall, the export price continues to indicate a strong expansion. The growth pace was the most rapid in 2019 an increase of 112% against the previous year. The export price peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+46.5%), while the prices for the other major destinations experienced mixed trend patterns.

Hollow Drill Bar Imports

Imports into Hong Kong SAR, China

Hollow drill bar imports into Hong Kong SAR shrank markedly to X tons in 2021, dropping by -73.6% on 2020 figures. Overall, imports saw a sharp descent. The most prominent rate of growth was recorded in 2020 when imports increased by 269% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, hollow drill bar imports dropped rapidly to $X in 2021. Over the period under review, imports saw a sharp descent. The growth pace was the most rapid in 2020 when imports increased by 214%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest supplier of hollow drill bar to Hong Kong SAR, with a 69% share of total imports. Moreover, hollow drill bar imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, South Korea (X kg), fivefold. Australia (X kg) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) stood at +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-11.8% per year) and Australia (-41.6% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of hollow drill bars and rods to Hong Kong SAR, comprising 72% of total imports. The second position in the ranking was held by Australia ($X), with a 15% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) stood at +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-38.1% per year) and South Korea (-13.9% per year).

Import Prices by Country

The average hollow drill bar import price stood at $X per ton in 2021, picking up by 23% against the previous year. Overall, the import price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 62%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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