Hong Kong SAR, China: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Hong Kong SAR, China

In 2022, the Hong Kong plastic reservoir market increased by 29% to $X, rising for the third year in a row after two years of decline. Overall, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.7% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2017; afterwards, it flattened through to 2022.

Plastic Reservoir Exports

Exports from Hong Kong SAR, China

In 2022, the amount of plastic reservoirs, tanks and vats exported from Hong Kong SAR rose to X tons, with an increase of 3.8% on the year before. In general, exports, however, continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 when exports increased by 134%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, plastic reservoir exports fell slightly to $X in 2022. Over the period under review, exports, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2014 with an increase of 108% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for plastic reservoir exports from Hong Kong SAR, with a 62% share of total exports. Moreover, plastic reservoir exports to China exceeded the volume sent to the second major destination, the United States (X tons), sevenfold. The third position in this ranking was held by Macao SAR (X tons), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.9% per year) and Macao SAR (-1.5% per year).

In value terms, China ($X) remains the key foreign market for plastic reservoirs, tanks and vats exports from Hong Kong SAR, comprising 62% of total exports. The second position in the ranking was held by the United States ($X), with an 8.3% share of total exports. It was followed by Macao SAR, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value to China totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-9.4% per year) and Macao SAR (-2.0% per year).

Export Prices by Country

The average plastic reservoir export price stood at $X per ton in 2022, dropping by -5.1% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and the United States ($X per ton), while the average price for exports to Indonesia ($X per ton) and Macao SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-0.5%), while the prices for the other major destinations experienced a decline.

Plastic Reservoir Imports

Imports into Hong Kong SAR, China

In 2022, plastic reservoir imports into Hong Kong SAR rose notably to X tons, picking up by 9% against 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 20%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic reservoir imports soared to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of plastic reservoir imports to Hong Kong SAR, together accounting for 85% of total imports. The United States, the UK, Malaysia and Germany lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +36.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the largest plastic reservoir suppliers to Hong Kong SAR, with a combined 85% share of total imports. The United States, the UK, Malaysia and Germany lagged somewhat behind, together accounting for a further 12%.

In terms of the main suppliers, the UK, with a CAGR of +37.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastic reservoir import price stood at $X per ton in 2022, with an increase of 21% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and the United States ($X per ton), while the price for Germany ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :