Hong Kong SAR, China: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Hong Kong SAR, China

In 2022, the Hong Kong high-tenacity filament aramids yarn market decreased by -3.1% to $X, falling for the second consecutive year after four years of growth. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in Hong Kong SAR, China

In value terms, high-tenacity filament aramids yarn production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 24% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports from Hong Kong SAR, China

In 2022, approx. X tons of high-tenacity filament yarn of aramids were exported from Hong Kong SAR; dropping by -20.9% compared with the year before. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 89% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, high-tenacity filament aramids yarn exports declined to $X in 2022. Overall, exports saw a noticeable contraction. The growth pace was the most rapid in 2021 with an increase of 84% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), China (X tons) and India (X tons) were the main destinations of high-tenacity filament aramids yarn exports from Hong Kong SAR, together comprising 72% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +7.9%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), China ($X) and India ($X) were the largest markets for high-tenacity filament aramids yarn exported from Hong Kong SAR worldwide, together accounting for 71% of total exports.

In terms of the main countries of destination, India, with a CAGR of +11.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average high-tenacity filament aramids yarn export price stood at $X per ton in 2022, jumping by 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to India ($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 Vietnam (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into Hong Kong SAR, China

High-tenacity filament aramids yarn imports into Hong Kong SAR fell remarkably to X tons in 2022, declining by -26.4% compared with the previous year's figure. Over the period under review, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by 93% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, high-tenacity filament aramids yarn imports shrank sharply to $X in 2022. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 76%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of high-tenacity filament aramids yarn imports to Hong Kong SAR, together comprising 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +5.6%), while purchases for the other leaders experienced a decline.

In value terms, the largest high-tenacity filament aramids yarn suppliers to Hong Kong SAR were Belgium ($X), the United States ($X) and Japan ($X), with a combined 96% share of total imports.

Belgium, with a CAGR of +4.3%, 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 high-tenacity filament aramids yarn import price stood at $X per ton in 2022, increasing by 5.3% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 11%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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