Hong Kong SAR, China: Non-Corrugated Paper Box Market 2024

Non-Corrugated Paper Box Market Size in Hong Kong SAR, China

The Hong Kong non-corrugated paper box market rose sharply to $X in 2022, picking up by 7.7% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the near future.

Non-Corrugated Paper Box Production in Hong Kong SAR, China

In value terms, non-corrugated paper box production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production saw a prominent increase. The growth pace was the most rapid in 2015 with an increase of 49%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Non-Corrugated Paper Box Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of folding cartons, boxes and cases of non-corrugated paper or paperboard were exported from Hong Kong SAR; waning by -48.7% against the previous year's figure. In general, exports showed a deep setback. The pace of growth was the most pronounced in 2021 when exports increased by 37%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, non-corrugated paper box exports contracted notably to $X in 2022. Overall, exports saw a drastic downturn. The growth pace was the most rapid in 2021 when exports increased by 35% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), the United States (X tons) and Vietnam (X tons) were the main destinations of non-corrugated paper box exports from Hong Kong SAR, together comprising 38% of total exports. South Korea, Japan, Bangladesh, France, the Philippines, Switzerland, India, the UK, Singapore and Indonesia lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +4.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for non-corrugated paper box exported from Hong Kong SAR were the United States ($X), China ($X) and South Korea ($X), together comprising 37% of total exports. Vietnam, Switzerland, France, the UK, Japan, Bangladesh, the Philippines, Singapore, India and Indonesia lagged somewhat behind, together comprising a further 35%.

India, with a CAGR of +9.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average non-corrugated paper box export price amounted to $X per ton, increasing by 14% against the previous year. Overall, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-corrugated paper box export price increased by +82.7% against 2013 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 29% against the previous year. The export price peaked in 2022 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 Switzerland ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Corrugated Paper Box Imports

Imports into Hong Kong SAR, China

Non-corrugated paper box imports into Hong Kong SAR reduced to X tons in 2022, with a decrease of -8.8% on 2021 figures. Overall, imports saw a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 8.8%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, non-corrugated paper box imports fell to $X in 2022. Over the period under review, imports saw a noticeable curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 16%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main non-corrugated paper box supplier to Hong Kong SAR, accounting for a approx. 94% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled -6.0%.

In value terms, China ($X) constituted the largest supplier of folding cartons, boxes and cases of non-corrugated paper or paperboard to Hong Kong SAR.

From 2012 to 2022, the average annual growth rate of value from China totaled -4.4%.

Import Prices by Country

The average non-corrugated paper box import price stood at $X per ton in 2022, picking up by 2.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2014 an increase of 8.1%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, 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 +1.7% per year.

Source: IndexBox Platform

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