Hong Kong SAR, China: Market for Mattresses of cellular rubber or plastics 2024

Market Size for Mattresses of cellular rubber or plastics in Hong Kong SAR, China

After two years of growth, the Hong Kong market for mattresses of cellular rubber or plastics decreased by -20.8% to $X in 2022. Over the period under review, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Exports of Mattresses of cellular rubber or plastics

Exports from Hong Kong SAR, China

In 2022, the amount of mattresses of cellular rubber or plastics exported from Hong Kong SAR fell remarkably to X units, waning by -68.1% compared with the year before. In general, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 124%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of mattresses of cellular rubber or plastics shrank notably to $X in 2022. Overall, exports saw a abrupt descent. The pace of growth was the most pronounced in 2019 with an increase of 130%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for exports of mattresses of cellular rubber or plastics from Hong Kong SAR, accounting for a 53% share of total exports. Moreover, exports of mattresses of cellular rubber or plastics to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), twofold. Macao SAR (X units) ranked third in terms of total exports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+39.4% per year) and Macao SAR (-7.2% per year).

In value terms, the largest markets for mattresses of cellular rubber or plastics exported from Hong Kong SAR were Taiwan (Chinese) ($X), China ($X) and Macao SAR ($X), together accounting for 74% of total exports.

Taiwan (Chinese), with a CAGR of +41.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for mattresses of cellular rubber or plastics stood at $X per unit in 2022, with an increase of 6.4% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 57%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mattresses of cellular rubber or plastics

Imports into Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in overseas purchases of mattresses of cellular rubber or plastics, when their volume decreased by -32.4% to X units. Overall, imports recorded a mild reduction. The most prominent rate of growth was recorded in 2020 with an increase of 47%. Imports peaked at X units in 2021, and then fell remarkably in the following year.

In value terms, imports of mattresses of cellular rubber or plastics reduced sharply to $X in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +3.5% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 31%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest mattresses of cellular rubber or plastics supplier to Hong Kong SAR, accounting for a 78% share of total imports. Moreover, imports of mattresses of cellular rubber or plastics from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+50.1% per year) and Malaysia (+26.8% per year).

In value terms, China ($X) constituted the largest supplier of mattresses of cellular rubber or plastics to Hong Kong SAR, comprising 75% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+43.4% per year) and Malaysia (+20.6% per year).

Import Prices by Country

In 2022, the average import price for mattresses of cellular rubber or plastics amounted to $X per unit, surging by 15% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 27%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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