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

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

After two years of growth, the Hong Kong market for plastic hoses and hose fittings decreased by -17.1% to $X in 2021. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +50.0% against 2018 indices. As a result, consumption attained the peak level of $X, and then shrank dramatically in the following year.

Production of Plastic Hoses and Hose Fittings in Hong Kong SAR, China

In value terms, plastic hose and hose fitting production declined remarkably to $X in 2021 estimated in export price. In general, the total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +43.1% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 71%. As a result, production attained the peak level of $X, and then declined remarkably in the following year.

Exports of Plastic Hoses and Hose Fittings

Exports from Hong Kong SAR, China

For the third consecutive year, Hong Kong SAR recorded decline in overseas shipments of plastic hoses and hose fittings, which decreased by -17.7% to X tons in 2021. Overall, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 6.3% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, plastic hose and hose fitting exports contracted slightly to $X in 2021. Over the period under review, exports saw a mild decline. The growth pace was the most rapid in 2013 with an increase of 15%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main destinations of plastic hose and hose fitting exports from Hong Kong SAR, with a combined 56% share of total exports. Australia, France, Italy, Chile, Peru, Thailand, Russia and Norway lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of +9.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for plastic hoses and hose fittings exports from Hong Kong SAR, comprising 57% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports. It was followed by Japan, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-1.6% per year) and Japan (-1.9% per year).

Export Prices by Country

In 2021, the average export price for plastic hoses and hose fittings amounted to $X per ton, jumping by 19% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Italy ($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 Thailand (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports into Hong Kong SAR, China

For the fourth year in a row, Hong Kong SAR recorded decline in overseas purchases of plastic hoses and hose fittings, which decreased by -4% to X tons in 2021. Overall, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 5.2% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, plastic hose and hose fitting imports contracted to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 18%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest plastic hose and hose fitting supplier to Hong Kong SAR, with a 73% share of total imports. Moreover, plastic hose and hose fitting imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+41.5% per year) and the United States (+7.0% per year).

In value terms, China ($X) constituted the largest supplier of plastic hoses and hose fittings to Hong Kong SAR, comprising 42% of total imports. The second position in the ranking was held by the United States ($X), with a 17% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.8% per year) and Japan (-4.9% per year).

Import Prices by Country

The average import price for plastic hoses and hose fittings stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2020 an increase of 24% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced slightly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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