Hong Kong SAR, China: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Hong Kong SAR, China

The Hong Kong extruded solid rubber rod market dropped modestly to $X in 2022, stabilizing at the previous year. Over the period under review, consumption continues to indicate a perceptible decrease. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Extruded Solid Rubber Rods And Profiles in Hong Kong SAR, China

In value terms, extruded solid rubber rod production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2013 when the production volume increased by 32%. Extruded solid rubber rod production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Hong Kong SAR, China

In 2022, overseas shipments of extruded solid rubber rods and profiles increased by 39% to X tons, rising for the third consecutive year after three years of decline. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2014 when exports increased by 283% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, extruded solid rubber rod exports soared to $X in 2022. Over the period under review, exports recorded a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 415% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

China (X tons) was the main destination for extruded solid rubber rod exports from Hong Kong SAR, accounting for a approx. 99% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +51.4%.

In value terms, China ($X) also remains the key foreign market for extruded solid rubber rods and profiles exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +60.8%.

Export Prices by Country

The average extruded solid rubber rod export price stood at $X per ton in 2022, with an increase of 25% against the previous year. In general, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, extruded solid rubber rod export price increased by +84.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 51%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +6.2% per year.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Hong Kong SAR, China

In 2022, approx. X tons of extruded solid rubber rods and profiles were imported into Hong Kong SAR; almost unchanged from the previous year. Overall, imports, however, saw a deep setback. The pace of growth appeared the most rapid in 2014 when imports increased by 307% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, extruded solid rubber rod imports dropped to $X in 2022. Over the period under review, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 when imports increased by 391% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the UK (X tons) was the main supplier of extruded solid rubber rod to Hong Kong SAR, with a 99% share of total imports. It was followed by China (X kg), with a 1.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the UK totaled -3.7%.

In value terms, the UK ($X) constituted the largest supplier of extruded solid rubber rods and profiles to Hong Kong SAR, comprising 99% of total imports. The second position in the ranking was held by China ($X), with a 1.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled -11.1%.

Import Prices by Country

In 2022, the average extruded solid rubber rod import price amounted to $X per ton, declining by -6.4% against the previous year. In general, the import price continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2019 when the average import price increased by 39%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the UK amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+24.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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