Eastern Asia: Way-Type Unit Head Market 2024

Way-Type Unit Head Market Size in Eastern Asia

The East Asian way-type unit head market shrank sharply to $X in 2021, dropping by -24.2% against the previous year. In general, consumption, however, enjoyed a buoyant expansion. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.

Way-Type Unit Head Production in Eastern Asia

In value terms, way-type unit head production declined notably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 97% against the previous year. As a result, production attained the peak level of $X, and then reduced markedly in the following year.

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Way-Type Unit Head Exports

Exports in Eastern Asia

In 2021, after four years of growth, there was significant decline in overseas shipments of way-type unit heads for working metal, when their volume decreased by -14.3% to X tons. In general, exports, however, enjoyed a notable increase. The pace of growth was the most pronounced in 2018 when exports increased by 119% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, way-type unit head exports shrank modestly to $X in 2021. Overall, exports showed a perceptible contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 65%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, reaching X tons, which was near 78% of total exports in 2021. South Korea (X tons) held an 8.1% share (based on physical terms) of total exports, which put it in second place, followed by Japan (7.1%) and Taiwan (Chinese) (5.8%).

China was also the fastest-growing in terms of the way-type unit heads for working metal exports, with a CAGR of +38.9% from 2012 to 2021. At the same time, Taiwan (Chinese) (+6.1%) displayed positive paces of growth. By contrast, South Korea (-13.0%) and Japan (-15.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +73 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest way-type unit head supplying countries in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), with a combined 96% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +21.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, growing by 12% against the previous year. Overall, the export price, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2020 an increase of 37% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.1%), while the other leaders experienced more modest paces of growth.

Way-Type Unit Head Imports

Imports in Eastern Asia

In 2021, after two years of decline, there was significant growth in overseas purchases of way-type unit heads for working metal, when their volume increased by 184% to X tons. In general, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 214% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, way-type unit head imports surged to $X in 2021. Over the period under review, imports, however, recorded a slight shrinkage. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China was the major importing country with an import of about X tons, which reached 49% of total imports. Hong Kong SAR (X tons) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by Japan (20%) and Taiwan (Chinese) (4.8%). South Korea (X tons) took a relatively small share of total imports.

Imports into China decreased at an average annual rate of -14.0% from 2012 to 2021. At the same time, Hong Kong SAR (+26.6%) and Japan (+12.0%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +26.6% from 2012-2021. By contrast, South Korea (-9.0%) and Taiwan (Chinese) (-16.2%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+21 p.p.) and Japan (+17 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-5.4 p.p.) and China (-33.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported way-type unit heads for working metal in Eastern Asia, comprising 78% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 6.5% share of total imports. It was followed by South Korea, with a 5.4% share.

In China, way-type unit head imports plunged by an average annual rate of -1.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-7.5% per year) and South Korea (-8.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, picking up by 55% against the previous year. Import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, way-type unit head import price increased by +94.8% against 2017 indices. As a result, import price reached 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 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($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 more modest paces of growth.

Source: IndexBox Platform

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