Hong Kong SAR, China: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in Hong Kong SAR, China

The Hong Kong wooden furniture treatments market skyrocketed to $X in 2022, picking up by 144% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wooden Furniture Treatments Production in Hong Kong SAR, China

In value terms, wooden furniture treatments production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 17%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Wooden Furniture Treatments Exports

Exports from Hong Kong SAR, China

In 2022, the amount of polishes and creams for wooden furniture and floors exported from Hong Kong SAR reduced rapidly to X tons, dropping by -46.6% on 2021 figures. In general, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 78%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, wooden furniture treatments exports contracted dramatically to $X in 2022. Overall, exports showed a pronounced setback. The pace of growth appeared the most rapid in 2021 with an increase of 81%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for wooden furniture treatments exports from Hong Kong SAR, with a 85% share of total exports. Moreover, wooden furniture treatments exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at -6.9%.

In value terms, China ($X) remains the key foreign market for polishes and creams for wooden furniture and floors exports from Hong Kong SAR, comprising 82% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at -3.7%.

Export Prices by Country

The average wooden furniture treatments export price stood at $X per ton in 2022, picking up by 7.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2016 an increase of 15%. The export price peaked at $X per ton in 2017; afterwards, it flattened through to 2022.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.4%).

Wooden Furniture Treatments Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of polishes and creams for wooden furniture and floors were imported into Hong Kong SAR; rising by 244% compared with 2021. Over the period under review, imports continue to indicate a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wooden furniture treatments imports skyrocketed to $X in 2022. In general, imports showed a pronounced increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) was the main supplier of wooden furniture treatments to Hong Kong SAR, with a 93% share of total imports. Moreover, wooden furniture treatments imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.6% per year) and Germany (-9.4% per year).

In value terms, China ($X) constituted the largest supplier of polishes and creams for wooden furniture and floors to Hong Kong SAR, comprising 81% of total imports. The second position in the ranking was held by Germany ($X), with an 8.9% share of total imports. It was followed by the United States, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.1% per year) and the United States (-3.7% per year).

Import Prices by Country

In 2022, the average wooden furniture treatments import price amounted to $X per ton, falling by -21.9% against the previous year. In general, the import price showed a mild downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 33%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :