Hong Kong SAR, China: Plastic Household Ware Market 2024

Plastic Household Ware Market Size in Hong Kong SAR, China

In 2021, the Hong Kong plastic household ware market increased by 28% to $X, rising for the third year in a row after two years of decline. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +53.4% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Plastic Household Ware Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of plastics household articles and toilet articles decreased by -11.1% to X tons, falling for the eighth year in a row after two years of growth. In general, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by 24%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic household ware exports shrank slightly to $X in 2021. Over the period under review, exports faced a deep setback. The pace of growth appeared the most rapid in 2013 when exports increased by 1.1%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for plastic household ware exports from Hong Kong SAR, with a 46% share of total exports. Moreover, plastic household ware exports to the United States exceeded the volume sent to the second major destination, China (X tons), fourfold. Macao SAR (X tons) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-8.1% per year) and Macao SAR (+7.0% per year).

In value terms, the United States ($X) remains the key foreign market for plastics household articles and toilet articles exports from Hong Kong SAR, comprising 35% of total exports. The second position in the ranking was held by China ($X), with a 13% share of total exports. It was followed by Macao SAR, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-2.5% per year) and Macao SAR (+9.3% per year).

Export Prices by Country

The average plastic household ware export price stood at $X per ton in 2021, with an increase of 8.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2014 an increase of 36%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to the Philippines ($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 China (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Household Ware Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of plastics household articles and toilet articles increased by 12% to X tons, rising for the second year in a row after seven years of decline. Overall, imports, however, recorded a noticeable decrease. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, plastic household ware imports skyrocketed to $X in 2021. In general, imports, however, showed a pronounced shrinkage. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main plastic household ware supplier to Hong Kong SAR, accounting for a 92% share of total imports. Moreover, plastic household ware imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.8% per year) and Taiwan (Chinese) (-8.8% per year).

In value terms, China ($X) constituted the largest supplier of plastics household articles and toilet articles to Hong Kong SAR, comprising 84% of total imports. The second position in the ranking was held by Japan ($X), with a 6.7% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.4% per year) and Taiwan (Chinese) (-7.3% per year).

Import Prices by Country

In 2021, the average plastic household ware import price amounted to $X per ton, picking up by 3.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 14% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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 Taiwan (Chinese) (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :