Spain: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in Spain

The Spanish hollow drill bar market fell to $X in 2021, with a decrease of -10.3% against the previous year. Over the period under review, consumption recorded a mild downturn. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Hollow Drill Bar Production in Spain

In value terms, hollow drill bar production expanded remarkably to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 13%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Hollow Drill Bar Exports

Exports from Spain

In 2021, the amount of hollow drill bars and rods exported from Spain declined slightly to X tons, approximately reflecting 2020 figures. Overall, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 1,654% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, hollow drill bar exports declined remarkably to $X in 2021. In general, exports recorded a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of 1,367% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Senegal (X tons), Portugal (X tons) and Switzerland (X tons) were the main destinations of hollow drill bar exports from Spain, with a combined 95% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +439.7%), while the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), Switzerland ($X) and Senegal ($X) appeared to be the largest markets for hollow drill bar exported from Spain worldwide, with a combined 76% share of total exports.

Switzerland, with a CAGR of +153.6%, 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, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average hollow drill bar export price stood at $X per ton in 2021, shrinking by -86.5% against the previous year. Over the period under review, the export price recorded a significant contraction. The growth pace was the most rapid in 2017 when the average export price increased by 163% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Senegal ($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 Mauritania (+57.7%), while the prices for the other major destinations experienced a decline.

Hollow Drill Bar Imports

Imports into Spain

In 2021, the amount of hollow drill bars and rods imported into Spain shrank sharply to X tons, reducing by -44.9% compared with the previous year. Over the period under review, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,530% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, hollow drill bar imports soared to $X in 2021. Overall, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 902% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), China (X tons) and the United States (X tons) were the main suppliers of hollow drill bar imports to Spain, with a combined 99% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +13.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of hollow drill bars and rods to Spain, comprising 57% of total imports. The second position in the ranking was held by the United States ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.0% per year) and China (+7.1% per year).

Import Prices by Country

In 2021, the average hollow drill bar import price amounted to $X per ton, picking up by 181% against the previous year. In general, the import price, however, continues to indicate a pronounced setback. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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