Hong Kong SAR, China: Market for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines 2024

Market Size for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in Hong Kong SAR, China

The Hong Kong market for line pipe of steel other than stainless steel for oil or gas pipelines shrank to $X in 2022, waning by -6.3% against the previous year. Over the period under review, consumption faced a deep reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in Hong Kong SAR, China

In value terms, production of line pipe of steel other than stainless steel for oil or gas pipelines fell to $X in 2022 estimated in export price. In general, production faced a deep contraction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 27%. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Exports from Hong Kong SAR, China

After two years of growth, shipments abroad of line pipe of steel other than stainless steel for oil or gas pipelines decreased by -49.2% to X tons in 2022. Over the period under review, exports faced a precipitous descent. The pace of growth appeared the most rapid in 2020 with an increase of 676% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of line pipe of steel other than stainless steel for oil or gas pipelines dropped remarkably to $X in 2022. In general, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 475% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for exports of line pipe of steel other than stainless steel for oil or gas pipelines from Hong Kong SAR, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China stood at -33.7%.

In value terms, China ($X) also remains the key foreign market for line pipe of steel other than stainless steel for oil or gas pipelines exports from Hong Kong SAR.

From 2012 to 2022, the average annual growth rate of value to China amounted to -40.0%.

Export Prices by Country

In 2022, the average export price for line pipe of steel other than stainless steel for oil or gas pipelines amounted to $X per ton, which is down by -10.9% against the previous year. In general, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 47%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -9.5% per year.

Imports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Imports into Hong Kong SAR, China

In 2022, purchases abroad of line pipe of steel other than stainless steel for oil or gas pipelines increased by 239% to X tons, rising for the second year in a row after three years of decline. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 656% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2021 when imports increased by 1,097% against the previous year. Over the period under review, imports of reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of line pipe of steel other than stainless steel for oil or gas pipelines to Hong Kong SAR, with a 92% share of total imports. Moreover, imports of line pipe of steel other than stainless steel for oil or gas pipelines from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +50.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-19.5% per year) and South Korea (-36.5% per year).

In value terms, China ($X) constituted the largest supplier of line pipe of steel other than stainless steel for oil or gas pipelines to Hong Kong SAR, comprising 85% of total imports. The second position in the ranking was held by Singapore ($X), with an 8.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +75.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-23.0% per year) and South Korea (-21.7% per year).

Import Prices by Country

In 2022, the average import price for line pipe of steel other than stainless steel for oil or gas pipelines amounted to $X per ton, with a decrease of -42.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 an increase of 224% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 South Korea ($X per ton), while the price for China ($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 (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform