Hong Kong SAR, China: Market for Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement 2024

Market Size for Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement in Hong Kong SAR, China

In 2021, the Hong Kong market for articles of asbestos-cement, of cellulose fibre-cement increased by 2.1% to $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, showed a deep contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement in Hong Kong SAR, China

In value terms, production of articles of asbestos-cement, of cellulose fibre-cement reduced slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2016 when the production volume increased by 32% against the previous year. Over the period under review, production of reached the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement

Exports from Hong Kong SAR, China

In 2021, shipments abroad of articles of asbestos-cement, of cellulose fibre-cement increased by 343% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2014 when exports increased by 598%. Over the period under review, the exports of reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of articles of asbestos-cement, of cellulose fibre-cement surged to $X in 2021. In general, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 683% against the previous year. Over the period under review, the exports of hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons) was the main destination for exports of articles of asbestos-cement, of cellulose fibre-cement from Hong Kong SAR, with a 42% share of total exports. Moreover, exports of articles of asbestos-cement, of cellulose fibre-cement to the Philippines exceeded the volume sent to the second major destination, Maldives (X tons), fourfold. Malaysia (X kg) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines stood at +29.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+7.0% per year) and Malaysia (-2.5% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for articles of asbestos-cement, of cellulose fibre-cement exports from Hong Kong SAR, comprising 41% of total exports. The second position in the ranking was held by Maldives ($X), with a 9.9% share of total exports. It was followed by Malaysia, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value to the Philippines totaled +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+3.5% per year) and Malaysia (-6.8% per year).

Export Prices by Country

The average export price for articles of asbestos-cement, of cellulose fibre-cement stood at $X per ton in 2021, rising by 11% against the previous year. In general, the export price, however, showed a abrupt decline. The growth pace was the most rapid in 2017 an increase of 27% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Zimbabwe ($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 Ghana (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement

Imports into Hong Kong SAR, China

In 2021, the amount of articles of asbestos-cement, of cellulose fibre-cement imported into Hong Kong SAR declined to X tons, with a decrease of -10.1% on 2020. In general, imports showed a precipitous descent. The pace of growth appeared the most rapid in 2017 with an increase of 3,365% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, imports of articles of asbestos-cement, of cellulose fibre-cement soared to $X in 2021. Overall, imports recorded a dramatic downturn. The growth pace was the most rapid in 2017 with an increase of 2,847%. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest articles of asbestos-cement, of cellulose fibre-cement supplier to Hong Kong SAR, with a 76% share of total imports. Moreover, imports of articles of asbestos-cement, of cellulose fibre-cement from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled -31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+32.2% per year) and Thailand (+15.0% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and Thailand ($X) constituted the largest articles of asbestos-cement, of cellulose fibre-cement suppliers to Hong Kong SAR, together accounting for 86% of total imports.

Taiwan (Chinese), with a CAGR of +34.3%, saw the highest growth rate of 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.

Import Prices by Country

In 2021, the average import price for articles of asbestos-cement, of cellulose fibre-cement amounted to $X per ton, surging by 57% against the previous year. Over the period under review, the import price saw a resilient expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by 237% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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