Hong Kong SAR, China: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in Hong Kong SAR, China

The Hong Kong glass electrical insulator market amounted to $X in 2021, picking up by 5.8% against the previous year. Over the period under review, consumption, however, showed a slight shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Glass Electrical Insulator Production in Hong Kong SAR, China

In value terms, glass electrical insulator production rose slightly to $X in 2021 estimated in export price. Over the period under review, production saw prominent growth. The growth pace was the most rapid in 2013 with an increase of 575%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Glass Electrical Insulator Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of glass electrical insulators were finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, continue to indicate a noticeable contraction. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass electrical insulator exports surged to $X in 2021. Overall, exports, however, saw a noticeable decrease. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X units) was the main destination for glass electrical insulator exports from Hong Kong SAR, with a 92% share of total exports. Moreover, glass electrical insulator exports to Thailand exceeded the volume sent to the second major destination, China (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Thailand stood at +24.6%.

In value terms, Thailand ($X) emerged as the key foreign market for glass electrical insulators exports from Hong Kong SAR, comprising 90% of total exports. The second position in the ranking was held by China ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand totaled +27.2%.

Export Prices by Country

The average glass electrical insulator export price stood at $X per unit in 2021, reducing by -46.9% against the previous year. Overall, the export price, however, continues to indicate a noticeable increase. The most prominent rate of growth was recorded in 2020 an increase of 71%. As a result, the export price attained the peak level of $X per unit, and then reduced rapidly in the following year.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Thailand totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.7%), while the prices for the other major destinations experienced mixed trend patterns.

Glass Electrical Insulator Imports

Imports into Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in supplies from abroad of glass electrical insulators, when their volume increased by 491% to X units. In general, imports, however, recorded a dramatic setback. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, glass electrical insulator imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2016 when imports increased by 397% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of glass electrical insulator to Hong Kong SAR, accounting for a 93% share of total imports. Moreover, glass electrical insulator imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled -31.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-12.1% per year) and the United Arab Emirates (0.0% per year).

In value terms, the largest glass electrical insulator suppliers to Hong Kong SAR were China ($X), the United States ($X) and the United Arab Emirates ($X).

The United Arab Emirates, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average glass electrical insulator import price stood at $X per unit in 2021, waning by -35.8% against the previous year. Overall, the import price, however, showed a perceptible increase. The pace of growth was the most pronounced in 2020 when the average import price increased by 164%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.4%).

Source: IndexBox Platform

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