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Hong Kong SAR, China - Yarn Of Wool - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Hong Kong SAR, China - Yarn Of Wool - Market Analysis, Forecast, Size, Trends and Insights

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Jul 31, 2023

Hong Kong Sees 3% Decrease in Woolen Yarn Price, Averaging $44.6 per kg

Hong Kong Woolen Yarn Import Price in May 2023

In May 2023, the woolen yarn price amounted to $44,602 per ton (CIF, Hong Kong), shrinking by -2.8% against the previous month. Overall, the import price saw a noticeable decline. The most prominent rate of growth was recorded in January 2023 an increase of 39% m-o-m. The import price peaked at $58,953 per ton in May 2022; however, from June 2022 to May 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In May 2023, the highest price was recorded for prices from Italy ($53,219 per ton) and Japan ($48,543 per ton), while the price for South Korea ($36,103 per ton) and China ($38,134 per ton) were amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Italy (+0.8%), while the prices for the other major suppliers experienced a decline.

COUNTRYImport Price of Woolen Yarn in Hong Kong (USD per ton)
May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023
Italy48,49141,36449,72550,34464,58155,97856,93271,43559,59955,74849,86742,03553,219
Japan50,44547,14950,08341,63360,19445,88259,45935,43653,58838,49259,20249,23048,543
China78,50643,89534,91472,49531,87250,70620,25525,68252,54461,10539,20650,35738,134
South Korea39,50836,60535,60528,51333,25046,93137,47929,84955,22034,36426,35844,03536,103
Average58,95342,08341,83358,08644,11351,85639,13240,61356,50656,20143,43445,86644,602

Hong Kong Woolen Yarn Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In May 2023, the product with the highest price was yarn of fine animal hair (carded or combed), not put up for retail sale ($107K per ton), while the price for yarn of combed wool, not put up for retail sale ($32,710 per ton) was amongst the lowest.

From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by yarn of coarse animal hair or of horsehair (including gimped horsehair yarn), whether or not put up for retail sale (0.0%), while the prices for the other products experienced a decline.

Hong Kong Woolen Yarn Imports

In May 2023, supplies from abroad of yarn of wool decreased by -29.5% to 295 tons, falling for the second month in a row after two months of growth. In general, imports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in February 2023 with an increase of 98% month-to-month.

In value terms, woolen yarn imports dropped rapidly to $13M (IndexBox estimates) in May 2023. Over the period under review, imports recorded a pronounced setback. The growth pace was the most rapid in February 2023 with an increase of 97% against the previous month.

Hong Kong Woolen Yarn Imports by Type

Yarn of combed wool, not put up for retail sale (132 tons), yarn of carded wool, not put up for retail sale (120 tons) and yarn of fine animal hair (carded or combed), not put up for retail sale (42 tons) were the main products of woolen yarn imports to Hong Kong, together accounting for 100% of total imports.

From May 2022 to May 2023, the biggest increases were in yarn of carded wool, not put up for retail sale (with a CAGR of -0.2%), while purchases for the other products experienced a decline.

In value terms, yarn of fine animal hair (carded or combed), not put up for retail sale ($4.5M), yarn of combed wool, not put up for retail sale ($4.3M) and yarn of carded wool, not put up for retail sale ($4.3M) constituted the most imported types of yarn of wool in Hong Kong, with a combined 100% share of total imports.

Hong Kong Woolen Yarn Imports by Country

China (153 tons), Italy (118 tons) and South Korea (11 tons) were the main suppliers of woolen yarn imports to Hong Kong, with a combined 95% share of total imports.

From May 2022 to May 2023, the biggest increases were in South Korea (with a CAGR of +3.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($6.3M), China ($5.8M) and South Korea ($387K) were the largest woolen yarn suppliers to Hong Kong, together accounting for 95% of total imports.

South Korea, with a CAGR of +2.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the woolen yarn market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 13105010 - Yarn of carded wool or fine animal hair, n.p.r.s.
  • Prodcom 13105030 - Yarn of combed wool or fine animal hair, n.p.r.s.
  • Prodcom 13105050 - Yarn of wool or fine animal hair, p.r.s.

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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