Hong Kong SAR, China: Vulcanised Rubber Erases Market 2024

Vulcanised Rubber Erases Market Size in Hong Kong SAR, China

In 2021, after three years of decline, there was significant growth in the Hong Kong vulcanised rubber erases market, when its value increased by 505% to $X. Over the period under review, consumption saw significant growth. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the immediate term.

Vulcanised Rubber Erases Production in Hong Kong SAR, China

In value terms, vulcanised rubber erases production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Vulcanised Rubber Erases Exports

Exports from Hong Kong SAR, China

For the third consecutive year, Hong Kong SAR recorded decline in overseas shipments of erasers of vulcanised rubber, which decreased by -78.4% to X tons in 2021. Over the period under review, exports saw a abrupt setback. The pace of growth was the most pronounced in 2014 with an increase of 167% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, vulcanised rubber erases exports reduced rapidly to $X in 2021. In general, exports continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2014 with an increase of 32% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for vulcanised rubber erases exports from Hong Kong SAR, accounting for a 55% share of total exports. Moreover, vulcanised rubber erases exports to Japan exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-7.1% per year) and the United States (-20.9% per year).

In value terms, Japan ($X) emerged as the key foreign market for erasers of vulcanised rubber exports from Hong Kong SAR, comprising 55% of total exports. The second position in the ranking was held by the United States ($X), with a 17% share of total exports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-14.9% per year) and China (+0.1% per year).

Export Prices by Country

The average vulcanised rubber erases export price stood at $X per ton in 2021, with an increase of 206% against the previous year. In general, the export price enjoyed noticeable growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to France ($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 China (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Erases Imports

Imports into Hong Kong SAR, China

In 2021, the amount of erasers of vulcanised rubber imported into Hong Kong SAR declined sharply to X tons, shrinking by -70.4% against the previous year's figure. In general, imports saw a noticeable downturn. The pace of growth appeared the most rapid in 2013 with an increase of 124%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, vulcanised rubber erases imports plummeted to $X in 2021. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 145%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of vulcanised rubber erases to Hong Kong SAR, accounting for a 66% share of total imports. Moreover, vulcanised rubber erases imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.5% per year) and Malaysia (+31.4% per year).

In value terms, Japan ($X) constituted the largest supplier of erasers of vulcanised rubber to Hong Kong SAR, comprising 61% of total imports. The second position in the ranking was held by China ($X), with a 28% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.6% per year) and Malaysia (+42.2% per year).

Import Prices by Country

In 2021, the average vulcanised rubber erases import price amounted to $X per ton, rising by 160% against the previous year. In general, the import price showed a buoyant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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