Hong Kong SAR, China: Calcareous Building Stone Market 2024

Calcareous Building Stone Market Size in Hong Kong SAR, China

In 2021, the Hong Kong calcareous building stone market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, continues to indicate a perceptible contraction. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Calcareous Building Stone Production in Hong Kong SAR, China

In value terms, calcareous building stone production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2017 with an increase of 76%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Calcareous Building Stone Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of calcareous building stone increased by 2.7% to X tons, rising for the third consecutive year after four years of decline. In general, exports, however, showed a sharp curtailment. The pace of growth was the most pronounced in 2019 when exports increased by 92%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, calcareous building stone exports stood at $X in 2021. Over the period under review, exports, however, continue to indicate a dramatic descent. The pace of growth appeared the most rapid in 2014 when exports increased by 112%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for calcareous building stone exports from Hong Kong SAR, accounting for a 72% share of total exports. Moreover, calcareous building stone exports to China exceeded the volume sent to the second major destination, Canada (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-33.0% per year) and India (+2.0% per year).

In value terms, China ($X) remains the key foreign market for calcareous building stone exports from Hong Kong SAR, comprising 87% of total exports. The second position in the ranking was held by Canada ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China totaled -17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-35.4% per year) and India (-21.8% per year).

Export Prices by Country

In 2021, the average calcareous building stone export price amounted to $X per ton, with a decrease of -2.1% against the previous year. Over the period under review, the export price saw a mild contraction. The pace of growth appeared the most rapid in 2015 when the average export price increased by 108%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to India ($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 Macao SAR (+55.8%), while the prices for the other major destinations experienced mixed trend patterns.

Calcareous Building Stone Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of calcareous building stone increased by 31% to X tons, rising for the second year in a row after seven years of decline. In general, imports, however, continue to indicate a abrupt descent. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, calcareous building stone imports soared to $X in 2021. Over the period under review, imports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2020 with an increase of 54%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Turkey (X tons) constituted the largest calcareous building stone supplier to Hong Kong SAR, accounting for a 56% share of total imports. Moreover, calcareous building stone imports from Turkey exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sevenfold. Portugal (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+20.7% per year) and Portugal (-18.2% per year).

In value terms, Turkey ($X) constituted the largest supplier of calcareous building stone to Hong Kong SAR, comprising 85% of total imports. The second position in the ranking was taken by Portugal ($X), with a 3.1% share of total imports. It was followed by Belgium, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-11.2% per year) and Belgium (+25.3% per year).

Import Prices by Country

The average calcareous building stone import price stood at $X per ton in 2021, rising by 17% against the previous year. Overall, the import price saw a buoyant expansion. The pace of growth appeared the most rapid in 2019 an increase of 35% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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