Hong Kong SAR, China: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Hong Kong SAR, China

In 2022, the Hong Kong market for glaziers putty, grafting putty, other mastics and painters' fillings increased by 5.3% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.8% against 2020 indices. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports from Hong Kong SAR, China

Exports of glaziers putty, grafting putty, other mastics and painters' fillings from Hong Kong SAR contracted remarkably to X tons in 2022, falling by -36% on the previous year. Overall, total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 63% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2021, and then fell notably in the following year.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings reduced notably to $X in 2022. Over the period under review, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 29% against the previous year. Over the period under review, the exports of hit record highs at $X in 2021, and then declined dramatically in the following year.

Exports by Country

China (X tons) was the main destination for exports of glaziers putty, grafting putty, other mastics and painters' fillings from Hong Kong SAR, accounting for a 90% share of total exports. Moreover, exports of glaziers putty, grafting putty, other mastics and painters' fillings to China exceeded the volume sent to the second major destination, Macao SAR (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +2.9%.

In value terms, China ($X) remains the key foreign market for glaziers putty, grafting putty, other mastics and painters' fillings exports from Hong Kong SAR, comprising 89% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 3.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at +9.1%.

Export Prices by Country

In 2022, the average export price for glaziers putty, grafting putty, other mastics and painters' fillings amounted to $X per ton, surging by 17% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for glaziers putty, grafting putty, other mastics and painters' fillings increased by +43.7% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 34% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+8.1%).

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports into Hong Kong SAR, China

In 2022, approx. X tons of glaziers putty, grafting putty, other mastics and painters' fillings were imported into Hong Kong SAR; with a decrease of -14.9% against the year before. Over the period under review, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2018 when imports increased by 27% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings shrank to $X in 2022. In general, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 30% against the previous year. Over the period under review, imports of hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest glaziers, grafting putty and painters' filling supplier to Hong Kong SAR, with a 52% share of total imports. Moreover, imports of glaziers putty, grafting putty, other mastics and painters' fillings from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+9.5% per year) and Germany (-1.5% per year).

In value terms, South Korea ($X), China ($X) and Germany ($X) were the largest glaziers, grafting putty and painters' filling suppliers to Hong Kong SAR, together comprising 58% of total imports. Japan, Italy, Switzerland, Taiwan (Chinese), the UK, Singapore, Thailand and Malaysia lagged somewhat behind, together comprising a further 32%.

In terms of the main suppliers, Italy, with a CAGR of +40.9%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average import price for glaziers putty, grafting putty, other mastics and painters' fillings amounted to $X per ton, increasing by 3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2013 an increase of 25% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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