Hong Kong SAR, China: Aramids Staple Market 2024

Aramids Staple Market Size in Hong Kong SAR, China

In 2021, the Hong Kong aramids staple market increased by 94% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption showed a notable expansion. Aramids staple consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Aramids Staple Production in Hong Kong SAR, China

In value terms, aramids staple production amounted to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 11% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Aramids Staple Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of aramids staple decreased by -25.2% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 17%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, aramids staple exports shrank to $X in 2021. Over the period under review, exports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 28% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for aramids staple exports from Hong Kong SAR, with a 49% share of total exports. Moreover, aramids staple exports to China exceeded the volume sent to the second major destination, Thailand (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+1.5% per year) and Taiwan (Chinese) (+5.5% per year).

In value terms, China ($X) remains the key foreign market for aramids staple exports from Hong Kong SAR, comprising 48% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 21% share of total exports. It was followed by Thailand, with a 20% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to -5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+8.4% per year) and Thailand (+2.1% per year).

Export Prices by Country

In 2021, the average aramids staple export price amounted to $X per ton, growing by 15% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2013 an increase of 22%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Aramids Staple Imports

Imports into Hong Kong SAR, China

For the third year in a row, Hong Kong SAR recorded decline in overseas purchases of aramids staple, which decreased by -11.5% to X tons in 2021. Overall, imports showed a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 48%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, aramids staple imports contracted to $X in 2021. Over the period under review, imports saw a abrupt setback. The growth pace was the most rapid in 2018 when imports increased by 68%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of aramids staple imports to Hong Kong SAR.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +46.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), China ($X) and Japan ($X) appeared to be the largest aramids staple suppliers to Hong Kong SAR.

Japan, with a CAGR of +41.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average aramids staple import price amounted to $X per ton, picking up by 6.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2018 an increase of 14% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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