Hong Kong SAR, China: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in Hong Kong SAR, China

The Hong Kong glass fibre filament market expanded modestly to $X in 2021, increasing by 4.9% against the previous year. In general, consumption showed strong growth. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Glass Fibre Filament Production in Hong Kong SAR, China

In value terms, glass fibre filament production rose significantly to $X in 2021 estimated in export price. Overall, production posted resilient growth. The growth pace was the most rapid in 2016 when the production volume increased by 136% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Glass Fibre Filament Exports

Exports from Hong Kong SAR, China

In 2021, the amount of glass fibre filaments exported from Hong Kong SAR reduced rapidly to X tons, declining by -48.6% on the previous year's figure. Overall, exports recorded a sharp decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 65%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, glass fibre filament exports declined remarkably to $X in 2021. In general, exports saw a sharp slump. The pace of growth appeared the most rapid in 2018 when exports increased by 60% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for glass fibre filament exports from Hong Kong SAR, with a 88% share of total exports. Moreover, glass fibre filament exports to Mexico exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Mexico stood at +574.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-49.4% per year) and the United States (+33.3% per year).

In value terms, Mexico ($X) emerged as the key foreign market for glass fibre filaments exports from Hong Kong SAR, comprising 72% of total exports. The second position in the ranking was taken by the United States ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico totaled +125.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.2% per year) and China (-53.2% per year).

Export Prices by Country

The average glass fibre filament export price stood at $X per ton in 2021, with an increase of 15% against the previous year. In general, the export price showed prominent growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 73% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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) (-3.9%), while the prices for the other major destinations experienced a decline.

Glass Fibre Filament Imports

Imports into Hong Kong SAR, China

After three years of growth, overseas purchases of glass fibre filaments decreased by -80.1% to X tons in 2021. Over the period under review, imports faced a abrupt downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 3,051% against the previous year. As a result, imports reached the peak of X tons, and then shrank significantly in the following year.

In value terms, glass fibre filament imports declined markedly to $X in 2021. Overall, imports saw a sharp curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 4,010% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main glass fibre filament supplier to Hong Kong SAR, accounting for a 98% share of total imports. It was followed by Turkey (X tons), with a 1.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (0.0% per year) and the United States (-49.4% per year).

In value terms, China ($X) constituted the largest supplier of glass fibre filaments to Hong Kong SAR, comprising 94% of total imports. The second position in the ranking was held by Turkey ($X), with a 4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (0.0% per year) and the United States (-44.3% per year).

Import Prices by Country

The average glass fibre filament import price stood at $X per ton in 2021, picking up by 31% against the previous year. Over the period under review, the import price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2016 an increase of 94% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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