Asia: Way-Type Unit Head Market 2024

Way-Type Unit Head Market Size in Asia

The Asian way-type unit head market declined remarkably to $X in 2021, with a decrease of -26.3% against the previous year. Overall, consumption, however, showed a strong expansion. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Way-Type Unit Head Production in Asia

In value terms, way-type unit head production fell markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 112% against the previous year. As a result, production reached the peak level of $X, and then shrank dramatically in the following year.

Way-Type Unit Head Exports

Exports in Asia

In 2021, shipments abroad of way-type unit heads for working metal decreased by -6.7% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, exports, however, enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 44% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then fell in the following year.

In value terms, way-type unit head exports dropped modestly to $X in 2021. Over the period under review, exports saw a pronounced shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by 34% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China dominates exports structure, accounting for X tons, which was near 60% of total exports in 2021. It was distantly followed by South Korea (X tons), Japan (X tons), Kuwait (X tons) and Turkey (X tons), together making up a 22% share of total exports. The following exporters - Taiwan (Chinese) (X tons), Singapore (X tons) and India (X tons) - together made up 10% of total exports.

From 2012 to 2021, average annual rates of growth with regard to way-type unit head exports from China stood at +38.9%. At the same time, Kuwait (+97.0%), Turkey (+10.4%) and Taiwan (Chinese) (+6.1%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in Asia, with a CAGR of +97.0% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, India (-5.1%), South Korea (-13.0%) and Japan (-15.6%) illustrated a downward trend over the same period. China (+56 p.p.), Kuwait (+5.3 p.p.) and Turkey (+2 p.p.) significantly strengthened its position in terms of the total exports, while Singapore, India, South Korea and Japan saw its share reduced by -1.8%, -2.4%, -24% and -29.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 74% share of total exports. Singapore, India, Taiwan (Chinese), Kuwait and Turkey lagged somewhat behind, together accounting for a further 14%.

Kuwait, with a CAGR of +97.1%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, with an increase of 2.7% against the previous year. Overall, the export price, however, recorded a deep slump. The most prominent rate of growth was recorded in 2020 an increase of 16%. Over the period under review, the export prices attained the maximum 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 Japan ($X per ton), while Turkey ($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 (+11.1%), while the other leaders experienced more modest paces of growth.

Way-Type Unit Head Imports

Imports in Asia

After two years of decline, overseas purchases of way-type unit heads for working metal increased by 53% to X tons in 2021. In general, imports, however, continue to indicate a noticeable curtailment. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, way-type unit head imports expanded rapidly to $X in 2021. Over the period under review, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2018 when imports increased by 35% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X tons), distantly followed by Iran (X tons) and Vietnam (X tons) represented the main importers of way-type unit heads for working metal, together achieving 75% of total imports. China (X tons), Turkey (X tons), Qatar (X tons), Thailand (X tons), Pakistan (X tons), Hong Kong SAR (X tons) and Malaysia (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Pakistan (with a CAGR of +49.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest way-type unit head importing markets in Asia were Vietnam ($X), China ($X) and Indonesia ($X), together accounting for 68% of total imports. These countries were followed by Qatar, Pakistan, Iran, Malaysia, Hong Kong SAR, Thailand and Turkey, which together accounted for a further 16%.

In terms of the main importing countries, Pakistan, with a CAGR of +40.9%, 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

The import price in Asia stood at $X per ton in 2021, shrinking by -30.3% against the previous year. In general, the import price saw a abrupt decline. The growth pace was the most rapid in 2013 an increase of 52% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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 China ($X per ton), while Iran ($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 (+14.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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