Hong Kong SAR, China: Market for Process Control, Gate, Globe and Other Valves 2024

Exports of Process Control, Gate, Globe and Other Valves

Exports from Hong Kong SAR, China

Exports of process control, gate, globe and other valves from Hong Kong SAR contracted to X tons in 2022, waning by -14.3% compared with 2021 figures. Overall, exports showed a slight descent. The pace of growth was the most pronounced in 2021 when exports increased by 67% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, exports of process control, gate, globe and other valves reduced to $X in 2022. Over the period under review, total exports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 76% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

China (X tons) was the main destination for exports of process control, gate, globe and other valves from Hong Kong SAR, accounting for a 64% share of total exports. Moreover, exports of process control, gate, globe and other valves to China exceeded the volume sent to the second major destination, the United States (X tons), ninefold. The third position in this ranking was taken by Germany (X tons), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.4% per year) and Germany (+19.8% per year).

In value terms, China ($X) remains the key foreign market for process control, gate, globe and other valves exports from Hong Kong SAR, comprising 64% of total exports. The second position in the ranking was held by the United States ($X), with a 6.9% share of total exports. It was followed by Germany, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.5% per year) and Germany (+22.9% per year).

Export Prices by Country

In 2022, the average export price for process control, gate, globe and other valves amounted to $X per ton, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2020 an increase of 9.9% against the previous year. The export price peaked at $X per ton in 2021, and then contracted modestly in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Singapore ($X per ton) and China ($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 Japan (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Process Control, Gate, Globe and Other Valves

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of process control, gate, globe and other valves increased by 72% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of process control, gate, globe and other valves surged to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +106.4% against 2019 indices. 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) constituted the largest supplier of process control, gate, globe and other valves to Hong Kong SAR, accounting for a 25% share of total imports. Moreover, imports of process control, gate, globe and other valves from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.3% per year) and the United States (+8.0% per year).

In value terms, China ($X) constituted the largest supplier of process control, gate, globe and other valves to Hong Kong SAR, comprising 27% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by the United States, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.4% per year) and the United States (+10.2% per year).

Import Prices by Country

In 2022, the average import price for process control, gate, globe and other valves amounted to $X per ton, with a decrease of -9.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 an increase of 11% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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