Hong Kong SAR, China: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Hong Kong SAR, China

The Hong Kong glass fibre and article market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Glass Fibres and Glass Fibre Articles in Hong Kong SAR, China

In value terms, glass fibre and article production reached $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in shipments abroad of glass fibres and glass fibre articles, when their volume decreased by X% to X tons. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, glass fibre and article exports fell to $X in 2022. Over the period under review, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Thailand (X tons), China (X tons) and South Korea (X tons) were the main destinations of glass fibre and article exports from Hong Kong SAR, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for glass fibres and glass fibre articles exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with an X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average glass fibre and article export price amounted to $X per ton, declining by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Thailand ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of glass fibres and glass fibre articles decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, glass fibre and article imports fell modestly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of glass fibre and article imports to Hong Kong SAR, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, Taiwan (Chinese) ($X), China ($X) and Japan ($X) appeared to be the largest glass fibre and article suppliers to Hong Kong SAR, together accounting for X% of total imports.

Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average glass fibre and article import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibre and article import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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