Hong Kong SAR, China: Nonwoven Fabric Market 2024

Nonwoven Fabric Market Size in Hong Kong SAR, China

In 2022, the Hong Kong nonwoven fabric market decreased by -11.3% to $X, falling for the second consecutive year after two years of growth. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Nonwoven Fabric Production in Hong Kong SAR, China

In value terms, nonwoven fabric production rose slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 20%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Nonwoven Fabric Exports

Exports from Hong Kong SAR, China

In 2022, the amount of nonwoven fabrics exported from Hong Kong SAR reduced notably to X tons, which is down by -58.2% compared with 2021 figures. Overall, exports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by 62% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, nonwoven fabric exports dropped sharply to $X in 2022. Over the period under review, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2018 with an increase of 14%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for nonwoven fabric exports from Hong Kong SAR, accounting for a 134% share of total exports. Moreover, nonwoven fabric exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), fivefold. The third position in this ranking was taken by Cambodia (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-8.5% per year) and Cambodia (-1.0% per year).

In value terms, China ($X) remains the key foreign market for nonwoven fabrics exports from Hong Kong SAR, comprising 166% of total exports. The second position in the ranking was held by Vietnam ($X), with a 29% share of total exports. It was followed by Cambodia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to China stood at -8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-2.6% per year) and Cambodia (-1.3% per year).

Export Prices by Country

In 2022, the average nonwoven fabric export price amounted to $X per ton, falling by -33.6% against the previous year. In general, the export price recorded a slight decrease. The most prominent rate of growth was recorded in 2014 an increase of 74% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then declined sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+6.5%), while the prices for the other major destinations experienced mixed trend patterns.

Nonwoven Fabric Imports

Imports into Hong Kong SAR, China

In 2022, imports of nonwoven fabrics into Hong Kong SAR shrank sharply to X tons, falling by -46.9% against 2021. Overall, imports saw a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 15% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, nonwoven fabric imports fell remarkably to $X in 2022. In general, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 17%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main nonwoven fabric supplier to Hong Kong SAR, accounting for a 119% share of total imports. Moreover, nonwoven fabric imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.5% per year) and Taiwan (Chinese) (-3.2% per year).

In value terms, China ($X), Japan ($X) and the United States ($X) appeared to be the largest nonwoven fabric suppliers to Hong Kong SAR.

The UK, with a CAGR of +10.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average nonwoven fabric import price amounted to $X per ton, falling by -6.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 8.5%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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