Hong Kong SAR, China: Market for Railway Or Tramway Track Construction Material Of Iron Or Steel 2025

Market Size for Railway Or Tramway Track Construction Material Of Iron Or Steel in Hong Kong SAR, China

The Hong Kong market for railway or tramway track construction material of iron or steel soared to $X in 2021, growing by 63% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a buoyant expansion. Consumption of peaked in 2021 and is expected to retain growth in years to come.

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

Exports from Hong Kong SAR, China

In 2021, approx. X tons of railway or tramway track construction material of iron or steel were exported from Hong Kong SAR; reducing by -80.7% compared with 2020. Over the period under review, exports faced a significant decrease. The growth pace was the most rapid in 2017 with an increase of 605% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of railway or tramway track construction material of iron or steel dropped rapidly to $X in 2021. Overall, exports faced a precipitous curtailment. The growth pace was the most rapid in 2019 when exports increased by 243%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for exports of railway or tramway track construction material of iron or steel from Hong Kong SAR, with a 94% share of total exports. Moreover, exports of railway or tramway track construction material of iron or steel to China exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -24.1%.

In value terms, Singapore ($X) and China ($X) were the largest markets for iron and steel railway construction materials exported from Hong Kong SAR worldwide.

Singapore, with a CAGR of -10.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average export price for railway or tramway track construction material of iron or steel amounted to $X per ton, rising by 107% against the previous year. In general, the export price continues to indicate mild growth. The most prominent rate of growth was recorded in 2018 an increase of 156% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+28.2%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Hong Kong SAR, China

In 2021, imports of railway or tramway track construction material of iron or steel into Hong Kong SAR skyrocketed to X tons, picking up by 51% compared with the previous year. In general, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 112%. Over the period under review, imports of attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, imports of railway or tramway track construction material of iron or steel surged to $X in 2021. Over the period under review, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 when imports increased by 79% against the previous year. Over the period under review, imports of hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest iron and steel railway construction materials supplier to Hong Kong SAR, accounting for a 54% share of total imports. Moreover, imports of railway or tramway track construction material of iron or steel from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan stood at +143.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.8% per year) and Belgium (+33.1% per year).

In value terms, China ($X), Japan ($X) and Belgium ($X) appeared to be the largest iron and steel railway construction materials suppliers to Hong Kong SAR, with a combined 84% share of total imports.

Japan, with a CAGR of +70.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for railway or tramway track construction material of iron or steel amounted to $X per ton, surging by 7% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for railway or tramway track construction material of iron or steel decreased by -19.3% against 2017 indices. The pace of growth appeared the most rapid in 2017 an increase of 65%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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