Hong Kong SAR, China: Filter Paper Market 2024

Filter Paper Market Size in Hong Kong SAR, China

In 2021, after four years of decline, there was significant growth in the Hong Kong filter paper market, when its value increased by 6.7% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Filter Paper Production in Hong Kong SAR, China

In value terms, filter paper production rose sharply to $X in 2021 estimated in export price. In general, production, however, saw a mild descent. The growth pace was the most rapid in 2016 with an increase of 92% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Filter Paper Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of filter paper and paperboard cut to shape decreased by -14% to X tons, falling for the fifth year in a row after two years of growth. Overall, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 42%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, filter paper exports skyrocketed to $X in 2021. In general, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of 179%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for filter paper exports from Hong Kong SAR, with a 64% share of total exports. Moreover, filter paper exports to China exceeded the volume sent to the second major destination, the United States (X tons), sixfold. The third position in this ranking was taken by the UK (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled -18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+12.4% per year) and the UK (+57.4% per year).

In value terms, China ($X) remains the key foreign market for filter paper and paperboard cut to shape exports from Hong Kong SAR, comprising 67% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 12% share of total exports. It was followed by the United States, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to China totaled -18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+66.9% per year) and the United States (+10.5% per year).

Export Prices by Country

The average filter paper export price stood at $X per ton in 2021, increasing by 54% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 97%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to the UK ($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 Taiwan (Chinese) (+22.6%), while the prices for the other major destinations experienced a decline.

Filter Paper Imports

Imports into Hong Kong SAR, China

For the sixth consecutive year, Hong Kong SAR recorded decline in supplies from abroad of filter paper and paperboard cut to shape, which decreased by -18.2% to X tons in 2021. Over the period under review, imports saw a deep downturn. The growth pace was the most rapid in 2015 with an increase of 50% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, filter paper imports dropped markedly to $X in 2021. In general, imports showed a deep slump. The most prominent rate of growth was recorded in 2015 when imports increased by 242%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of filter paper imports to Hong Kong SAR, with a combined 77% share of total imports. These countries were followed by Germany, the UK, Singapore, South Korea and Taiwan (Chinese), which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +18.5%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X), Japan ($X) and Germany ($X) constituted the largest filter paper suppliers to Hong Kong SAR, together comprising 67% of total imports. China, South Korea, the UK, Singapore and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 27%.

In terms of the main suppliers, the UK, with a CAGR of +14.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average filter paper import price stood at $X per ton in 2021, which is down by -12% against the previous year. Over the period under review, the import price, however, saw pronounced growth. The most prominent rate of growth was recorded in 2015 when the average import price increased by 128% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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 South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+29.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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