Hong Kong SAR, China: Non-Electric Roasting Furnace Market 2024

Non-Electric Roasting Furnace Market Size in Hong Kong SAR, China

The Hong Kong non-electric roasting furnace market reached $X in 2022, increasing by 11% against the previous year. Overall, consumption enjoyed buoyant growth. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Non-Electric Roasting Furnace Production in Hong Kong SAR, China

In value terms, non-electric roasting furnace production contracted slightly to $X in 2022 estimated in export price. In general, production recorded significant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 162% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Non-Electric Roasting Furnace Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of non-electric furnaces and ovens for the roasting or melting decreased by -26.7% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports faced a dramatic decrease. The growth pace was the most rapid in 2017 when exports increased by 371%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-electric roasting furnace exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 9,760% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for non-electric roasting furnace exports from Hong Kong SAR, accounting for a 98% share of total exports. It was followed by Russia (X units), with a 2.3% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled +10.4%.

In value terms, Malaysia ($X) emerged as the key foreign market for non-electric furnaces and ovens for the roasting or melting exports from Hong Kong SAR, comprising 86% of total exports. The second position in the ranking was taken by Russia ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia stood at +30.4%.

Export Prices by Country

The average non-electric roasting furnace export price stood at $X per unit in 2022, jumping by 176% against the previous year. Over the period under review, the export price showed notable growth. The most prominent rate of growth was recorded in 2017 an increase of 1,992% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Malaysia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Roasting Furnace Imports

Imports into Hong Kong SAR, China

For the third year in a row, Hong Kong SAR recorded decline in purchases abroad of non-electric furnaces and ovens for the roasting or melting, which decreased by -58.8% to X units in 2022. Over the period under review, imports showed a sharp curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 120%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, non-electric roasting furnace imports reduced remarkably to $X in 2022. In general, imports saw a dramatic downturn. The pace of growth was the most pronounced in 2019 with an increase of 736% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest non-electric roasting furnace supplier to Hong Kong SAR, accounting for a 86% share of total imports. Moreover, non-electric roasting furnace imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume from the United States was relatively modest.

In value terms, the United States ($X) constituted the largest supplier of non-electric furnaces and ovens for the roasting or melting to Hong Kong SAR, comprising 93% of total imports. The second position in the ranking was held by Canada ($X), with a 7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -14.7%.

Import Prices by Country

In 2022, the average non-electric roasting furnace import price amounted to $X per unit, jumping by 31% against the previous year. In general, the import price, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 280% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Canada totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :