Hong Kong SAR, China: Market for Plastic Fittings for Tubes, Pipes and Hoses 2024

Market Size for Plastic Fittings for Tubes, Pipes and Hoses in Hong Kong SAR, China

The Hong Kong market for plastic fittings for tubes, pipes and hoses soared to $X in 2021, increasing by 83% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Plastic Fittings for Tubes, Pipes and Hoses

Exports from Hong Kong SAR, China

In 2021, overseas shipments of plastic fittings for tubes, pipes and hoses decreased by -26% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 519% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of plastic fittings for tubes, pipes and hoses contracted to $X in 2021. Overall, exports, however, posted a resilient increase. The pace of growth was the most pronounced in 2017 when exports increased by 511% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

China (X tons) was the main destination for exports of plastic fittings for tubes, pipes and hoses from Hong Kong SAR, accounting for a 35% share of total exports. Moreover, exports of plastic fittings for tubes, pipes and hoses to China exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Tanzania (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+23.5% per year) and Tanzania (+30.7% per year).

In value terms, China ($X) remains the key foreign market for plastic fittings for tubes, pipes and hoses exports from Hong Kong SAR, comprising 62% of total exports. The second position in the ranking was taken by the United States ($X), with an 8.7% share of total exports. It was followed by Macao SAR, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+20.4% per year) and Macao SAR (+11.1% per year).

Export Prices by Country

In 2021, the average export price for plastic fittings for tubes, pipes and hoses amounted to $X per ton, increasing by 32% against the previous year. In general, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 45% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Seychelles ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+27.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Fittings for Tubes, Pipes and Hoses

Imports into Hong Kong SAR, China

In 2021, approx. X tons of plastic fittings for tubes, pipes and hoses were imported into Hong Kong SAR; with an increase of 74% on the previous year's figure. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of plastic fittings for tubes, pipes and hoses soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. Over the period under review, imports of reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest plastic fittings for tubes, pipes and hoses supplier to Hong Kong SAR, accounting for a 72% share of total imports. Moreover, imports of plastic fittings for tubes, pipes and hoses from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.5% per year) and Germany (-5.9% per year).

In value terms, China ($X) constituted the largest supplier of plastic fittings for tubes, pipes and hoses to Hong Kong SAR, comprising 42% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by Germany, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.4% per year) and Germany (-4.6% per year).

Import Prices by Country

In 2021, the average import price for plastic fittings for tubes, pipes and hoses amounted to $X per ton, shrinking by -24.8% against the previous year. Overall, the import price continues to indicate a mild descent. The pace of growth appeared the most rapid in 2017 an increase of 14%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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