Hong Kong SAR, China: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Hong Kong SAR, China

In 2021, the Hong Kong pharmaceutical rubber articles market increased by 17% to $X, rising for the second year in a row after five years of decline. In general, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +23.2% against 2019 indices. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Pharmaceutical Rubber Articles Production in Hong Kong SAR, China

In value terms, pharmaceutical rubber articles production amounted to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 60% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Pharmaceutical Rubber Articles Exports

Exports from Hong Kong SAR, China

Pharmaceutical rubber articles exports from Hong Kong SAR contracted markedly to X units in 2021, falling by -55.5% compared with 2020. In general, exports recorded a abrupt setback. The growth pace was the most rapid in 2014 with an increase of 78%. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, pharmaceutical rubber articles exports shrank rapidly to $X in 2021. Overall, exports showed a abrupt decrease. The growth pace was the most rapid in 2015 with an increase of 24% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Morocco (X units), the United States (X units) and Australia (X units) were the main destinations of pharmaceutical rubber articles exports from Hong Kong SAR, with a combined 70% share of total exports. China, Canada, Germany and the UK lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +51.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pharmaceutical rubber articles exported from Hong Kong SAR were Morocco ($X), the United States ($X) and Australia ($X), with a combined 66% share of total exports. These countries were followed by China, the UK, Canada and Germany, which together accounted for a further 27%.

In terms of the main countries of destination, Germany, with a CAGR of +40.1%, 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 pharmaceutical rubber articles export price stood at $X per unit in 2021, with an increase of 3.9% against the previous year. Over the period under review, the export price, however, showed a mild slump. The most prominent rate of growth was recorded in 2013 an increase of 46%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

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 UK ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of hygienic or pharmaceutical articles of rubber decreased by -11.6% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 44%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, pharmaceutical rubber articles imports fell to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 29% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main supplier of pharmaceutical rubber articles to Hong Kong SAR, with a 93% share of total imports. It was followed by Germany (X units), with a 2.9% share of total imports. The third position in this ranking was held by the United States (X units), with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-16.9% per year) and the United States (+3.4% per year).

In value terms, China ($X) constituted the largest supplier of hygienic or pharmaceutical articles of rubber to Hong Kong SAR, comprising 85% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.6% share of total imports. It was followed by the United States, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-14.0% per year) and the United States (+8.2% per year).

Import Prices by Country

The average pharmaceutical rubber articles import price stood at $X per unit in 2021, growing by 1.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2015 when the average import price increased by 27%. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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