Hong Kong SAR, China: Market for Drawn Glass And Blown Glass 2024

Market Size for Drawn Glass And Blown Glass in Hong Kong SAR, China

The Hong Kong market for drawn glass and blown glass soared to $X in 2021, increasing by 263% against the previous year. In general, consumption posted resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Drawn Glass And Blown Glass in Hong Kong SAR, China

In value terms, drawn glass and blown glass production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a sharp contraction. The pace of growth appeared the most rapid in 2014 when the production volume increased by 232%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Drawn Glass And Blown Glass

Exports from Hong Kong SAR, China

In 2021, approx. X square meters of drawn glass and blown glass were exported from Hong Kong SAR; waning by -81.4% on the year before. In general, exports recorded a precipitous shrinkage. The growth pace was the most rapid in 2019 when exports increased by 6.8% against the previous year. Over the period under review, the exports attained the peak figure at X square meters in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, drawn glass and blown glass exports reduced rapidly to $X in 2021. Over the period under review, exports recorded a significant decline. The growth pace was the most rapid in 2018 with an increase of 9.3% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X square meters) was the main destination for drawn glass and blown glass exports from Hong Kong SAR, accounting for a 97% share of total exports. It was followed by South Korea (X square meters), with a 2.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -44.1%.

In value terms, China ($X) remains the key foreign market for drawn glass and blown glass exports from Hong Kong SAR, comprising 98% of total exports. The second position in the ranking was held by South Korea ($X), with a 2.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -43.2%.

Export Prices by Country

In 2021, the average export price for drawn glass and blown glass amounted to $X per square meter, increasing by 10% against the previous year. Overall, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, drawn glass and blown glass export price increased by +103.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 57%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per square meter), while the average price for exports to South Korea stood at $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+12.4%).

Imports of Drawn Glass And Blown Glass

Imports into Hong Kong SAR, China

In 2021, approx. X square meters of drawn glass and blown glass were imported into Hong Kong SAR; waning by -47.9% against the previous year's figure. Over the period under review, imports recorded a dramatic contraction. The pace of growth was the most pronounced in 2013 with an increase of 721%. As a result, imports attained the peak of X square meters. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, drawn glass and blown glass imports declined significantly to $X in 2021. Overall, imports saw a sharp decline. The pace of growth was the most pronounced in 2013 with an increase of 1,494%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Germany (X square meters) constituted the largest drawn glass and blown glass supplier to Hong Kong SAR, with a 68% share of total imports. Moreover, drawn glass and blown glass imports from Germany exceeded the figures recorded by the second-largest supplier, China (X square meters), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +1.1%.

In value terms, the largest drawn glass and blown glass suppliers to Hong Kong SAR were Germany ($X) and China ($X).

Germany, with a CAGR of -0.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average import price for drawn glass and blown glass stood at $X per square meter in 2021, which is down by -46.2% against the previous year. Overall, the import price, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2020 an increase of 142%. As a result, import price attained the peak level of $X per square meter, and then reduced remarkably in the following year.

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 China ($X per square meter), while the price for Germany stood at $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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