ASEAN: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in ASEAN

In 2023, the ASEAN hollow drill bar market decreased by X% to $X, falling for the second year in a row after six years of growth. The total consumption indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Hollow Drill Bar Production in ASEAN

In value terms, hollow drill bar production rose modestly to $X in 2023 estimated in export price. The total production indicated a mild expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Hollow Drill Bar Exports

Exports in ASEAN

In 2023, the amount of hollow drill bars and rods exported in ASEAN contracted slightly to X tons, remaining stable against 2022. In general, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, hollow drill bar exports declined slightly to $X in 2023. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Thailand (X tons) and Malaysia (X tons) were the main exporters of hollow drill bars and rods in ASEAN, together making up X% of total exports. Singapore (X tons) held the next position in the ranking, followed by Vietnam (X tons). All these countries together took near X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest hollow drill bar supplying countries in ASEAN were Thailand ($X), Malaysia ($X) and Singapore ($X), with a combined X% share of total exports. Vietnam lagged somewhat behind, accounting for a further X%.

Vietnam, with a CAGR of X%, saw 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 mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, falling by X% against the previous year. In general, the export price, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2016 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Hollow Drill Bar Imports

Imports in ASEAN

In 2023, imports of hollow drill bars and rods in ASEAN expanded to X tons, picking up by X% against the previous year. In general, imports saw notable growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, hollow drill bar imports dropped to $X in 2023. Overall, imports continue to indicate slight growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Indonesia (X tons) was the largest importer of hollow drill bars and rods, committing X% of total imports. It was distantly followed by Myanmar (X tons), Thailand (X tons), Malaysia (X tons) and the Philippines (X tons), together achieving a X% share of total imports. Singapore (X tons) and Vietnam (X tons) held a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Among the main importing countries, Indonesia, with a CAGR of X%, saw 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 ASEAN stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price showed a slight contraction. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform