Hong Kong SAR, China: Market for Multiple-Walled Insulating Units Of Glass 2024

Market Size for Multiple-Walled Insulating Units Of Glass in Hong Kong SAR, China

After two years of growth, the Hong Kong multiple-walled insulating glass unit market decreased by -10.8% to $X in 2021. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Production of Multiple-Walled Insulating Units Of Glass in Hong Kong SAR, China

In value terms, multiple-walled insulating glass unit production contracted significantly to $X in 2021 estimated in export price. Over the period under review, production showed a mild shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by 63%. As a result, production attained the peak level of $X, and then shrank sharply in the following year.

Exports of Multiple-Walled Insulating Units Of Glass

Exports from Hong Kong SAR, China

In 2021, exports of multiple-walled insulating units of glass from Hong Kong SAR was estimated at X square meters, with an increase of 2.7% on 2020. Over the period under review, exports, however, showed a sharp decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 495%. The exports peaked at X square meters in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, multiple-walled insulating glass unit exports shrank dramatically to $X in 2021. Overall, exports, however, faced a dramatic setback. The most prominent rate of growth was recorded in 2018 when exports increased by 577% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

China (X square meters) was the main destination for multiple-walled insulating glass unit exports from Hong Kong SAR, accounting for a 71% share of total exports. Moreover, multiple-walled insulating glass unit exports to China exceeded the volume sent to the second major destination, the UK (X square meters), fivefold. Australia (X square meters) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled -30.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Australia (-13.6% per year).

In value terms, China ($X) remains the key foreign market for multiple-walled insulating units of glass exports from Hong Kong SAR, comprising 68% of total exports. The second position in the ranking was taken by the UK ($X), with a 14% share of total exports. It was followed by Australia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to -31.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Australia (-12.2% per year).

Export Prices by Country

The average multiple-walled insulating glass unit export price stood at $X per square meter in 2021, shrinking by -27.6% against the previous year. Overall, the export price showed a slight contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 69%. Over the period under review, the average export prices hit record highs at $X per square meter in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per square meter), while the average price for exports to Japan ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Multiple-Walled Insulating Units Of Glass

Imports into Hong Kong SAR, China

In 2021, purchases abroad of multiple-walled insulating units of glass was finally on the rise to reach X square meters after two years of decline. Overall, imports showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, multiple-walled insulating glass unit imports soared to $X in 2021. In general, imports continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 113% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X square meters) was the main supplier of multiple-walled insulating glass unit to Hong Kong SAR, accounting for a 100% share of total imports. It was followed by the United States (X square meters), with a 0.3% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China stood at +15.4%.

In value terms, China ($X) constituted the largest supplier of multiple-walled insulating units of glass to Hong Kong SAR, comprising 97% of total imports. The second position in the ranking was held by the United States ($X), with a 0.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +14.7%.

Import Prices by Country

In 2021, the average multiple-walled insulating glass unit import price amounted to $X per square meter, which is down by -5.8% against the previous year. Over the period under review, the import price continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2015 an increase of 59% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2016 to 2021, 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 the United States ($X per square meter), while the price for China amounted to $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.1%).

Source: IndexBox Platform

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