Eastern Asia: Steel Railway Material Market 2024

Steel Railway Material Market Size in Eastern Asia

In 2022, the East Asian steel railway material market decreased by X% to $X, falling for the second consecutive year after three years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Steel Railway Material Production in Eastern Asia

In value terms, steel railway material production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Steel Railway Material Exports

Exports in Eastern Asia

In 2022, steel railway material exports in Eastern Asia rose significantly to X tons, increasing by X% on 2021. Over the period under review, exports, however, continue to indicate a perceptible setback. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel railway material exports soared to $X in 2022. In general, exports, however, continue to indicate a noticeable downturn. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China represented the key exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Japan (X tons), constituting a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%).

In value terms, the largest steel railway material supplying countries in Eastern Asia were China ($X) and Japan ($X).

China, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Steel Railway Material Imports

Imports in Eastern Asia

In 2022, purchases abroad of railway or tramway track construction material of iron or steel decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, imports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, steel railway material imports reached $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) represented the key importer of railway or tramway track construction material of iron or steel, committing X% of total imports. It was distantly followed by China (X tons), South Korea (X tons) and Hong Kong SAR (X tons), together achieving a X% share of total imports. Japan (X tons) took a relatively small share of total imports.

Taiwan (Chinese) was also the fastest-growing in terms of the railway or tramway track construction material of iron or steel imports, with a CAGR of X% from 2012 to 2022. At the same time, Hong Kong SAR (X%) displayed positive paces of growth. By contrast, Japan (X%), South Korea (X%) and China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Taiwan (Chinese) and Hong Kong SAR increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Taiwan (Chinese) ($X), China ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Hong Kong SAR and Japan lagged somewhat behind, together comprising a further X%.

Hong Kong SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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