Hong Kong SAR, China: Hairpin Market 2024

Hairpin Market Size in Hong Kong SAR, China

The Hong Kong hairpin market contracted to $X in 2021, shrinking by -11.6% against the previous year. Over the period under review, consumption showed a perceptible contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Hairpin Production in Hong Kong SAR, China

In value terms, hairpin production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 45%. Over the period under review, production attained the maximum level at $X in 2020, and then shrank modestly in the following year.

Hairpin Exports

Exports from Hong Kong SAR, China

For the fourth year in a row, Hong Kong SAR recorded decline in overseas shipments of hairpins, curling pins, curling grips and hair-curlers, which decreased by -4.7% to X tons in 2021. Over the period under review, exports faced a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 24%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hairpin exports reduced to $X in 2021. Overall, exports showed a abrupt descent. The growth pace was the most rapid in 2014 when exports increased by 18%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons), the UK (X tons) and Germany (X tons) were the main destinations of hairpin exports from Hong Kong SAR, with a combined 65% share of total exports.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +6.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for hairpin exported from Hong Kong SAR were the UK ($X), Germany ($X) and the United States ($X), with a combined 62% share of total exports.

Germany, with a CAGR of +18.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average hairpin export price amounted to $X per ton, approximately equating the previous year. In general, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hairpin export price increased by +34.0% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 47% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Australia ($X per ton), while the average price for exports to Canada ($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 Germany (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Hairpin Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of hairpins, curling pins, curling grips and hair-curlers were imported into Hong Kong SAR; declining by -32.4% on the previous year. Overall, imports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 4.4%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hairpin imports declined significantly to $X in 2021. Over the period under review, imports saw a abrupt setback. The growth pace was the most rapid in 2018 with an increase of 38% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main hairpin supplier to Hong Kong SAR, accounting for a 95% share of total imports. Moreover, hairpin imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -22.8%.

In value terms, China ($X) constituted the largest supplier of hairpin to Hong Kong SAR, comprising 67% of total imports. The second position in the ranking was taken by Japan ($X), with a 22% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to -13.5%.

Import Prices by Country

In 2021, the average hairpin import price amounted to $X per ton, growing by 12% against the previous year. Over the period under review, the import price saw a strong expansion. The pace of growth appeared the most rapid in 2014 when the average import price increased by 82% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 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, the country with the highest price was Japan ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.0%).

Source: IndexBox Platform

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