Hong Kong SAR, China: Bitumen Mixer Market 2024

Bitumen Mixer Market Size in Hong Kong SAR, China

For the third consecutive year, the Hong Kong bitumen mixer market recorded growth in sales value, which increased by 527% to $X in 2021. Overall, consumption saw a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Bitumen Mixer Production in Hong Kong SAR, China

In value terms, bitumen mixer production declined notably to $X in 2021 estimated in export price. In general, production saw a deep setback. The pace of growth appeared the most rapid in 2020 when the production volume increased by 433% against the previous year. Bitumen mixer production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Bitumen Mixer Exports

Exports from Hong Kong SAR, China

In 2021, after two years of growth, there was significant decline in overseas shipments of machines for mixing mineral substances with bitumen, when their volume decreased by -60% to X units. In general, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 540% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, bitumen mixer exports contracted significantly to $X in 2021. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 33,267%. Over the period under review, the exports hit record highs at $X in 2020, and then contracted significantly in the following year.

Exports by Country

Pakistan (X units) and Singapore (X units) were the main destinations of bitumen mixer exports from Hong Kong SAR.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +13.0%).

In value terms, Pakistan ($X) remains the key foreign market for machines for mixing mineral substances with bitumen exports from Hong Kong SAR, comprising 55% of total exports. The second position in the ranking was taken by Singapore ($X), with a 2.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Pakistan amounted to +126.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+20.9% per year) and the Philippines (+9.6% per year).

Export Prices by Country

In 2021, the average bitumen mixer export price amounted to $X per unit, waning by -31.9% against the previous year. Over the period under review, the export price, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 61%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the 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 Pakistan ($X per unit), while the average price for exports to Singapore ($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 Pakistan (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.

Bitumen Mixer Imports

Imports into Hong Kong SAR, China

In 2021, approx. X units of machines for mixing mineral substances with bitumen were imported into Hong Kong SAR; surging by 2,800% against the year before. In general, imports saw a resilient expansion. Imports peaked at X units in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, bitumen mixer imports surged to $X in 2021. Over the period under review, imports recorded a significant expansion. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X units) constituted the largest supplier of bitumen mixer to Hong Kong SAR, with a 83% share of total imports. Moreover, bitumen mixer imports from South Korea exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X units), more than tenfold. The Netherlands (X units) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +48.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (0.0% per year) and the Netherlands (0.0% per year).

In value terms, China ($X) constituted the largest supplier of machines for mixing mineral substances with bitumen to Hong Kong SAR, comprising 79% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total imports. It was followed by the Netherlands, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +44.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (0.0% per year) and the Netherlands (0.0% per year).

Import Prices by Country

In 2021, the average bitumen mixer import price amounted to $X per unit, waning by -21.7% against the previous year. Overall, the import price, however, recorded strong growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 187% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 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 China ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+28.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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