Hong Kong SAR, China: Market for PVC Floor, Wall and Ceiling Coverings 2024

Market Size for PVC Floor, Wall and Ceiling Coverings in Hong Kong SAR, China

In 2022, the Hong Kong market for PVC floor, wall and ceiling coverings increased by 4% to $X, rising for the third year in a row after three years of decline. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Exports of PVC Floor, Wall and Ceiling Coverings

Exports from Hong Kong SAR, China

In 2022, exports of pvc floor, wall and ceiling coverings from Hong Kong SAR soared to X square meters, picking up by 30% on 2021 figures. Over the period under review, exports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2019 with an increase of 67%. As a result, the exports attained the peak of X square meters. From 2020 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of PVC floor, wall and ceiling coverings surged to $X in 2022. In general, exports, however, saw a slight decrease. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X square meters) was the main destination for exports of PVC floor, wall and ceiling coverings from Hong Kong SAR, with a 52% share of total exports. Moreover, exports of PVC floor, wall and ceiling coverings to China exceeded the volume sent to the second major destination, Macao SAR (X square meters), twofold. The third position in this ranking was taken by the United States (X square meters), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled -6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-2.5% per year) and the United States (+66.3% per year).

In value terms, the largest markets for PVC floor, wall and ceiling coverings exported from Hong Kong SAR were Macao SAR ($X), China ($X) and the United States ($X), together accounting for 82% of total exports.

The United States, with a CAGR of +60.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for PVC floor, wall and ceiling coverings stood at $X per square meter in 2022, surging by 9.6% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for PVC floor, wall and ceiling coverings increased by +77.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 50%. The export price peaked at $X per square meter in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per square meter), while the average price for exports to Solomon Islands ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of PVC Floor, Wall and Ceiling Coverings

Imports into Hong Kong SAR, China

In 2022, overseas purchases of PVC floor, wall and ceiling coverings increased by 1% to X square meters, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 25% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, imports of PVC floor, wall and ceiling coverings reached $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 25% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X square meters) constituted the largest PVC floor, wall and ceiling coverings supplier to Hong Kong SAR, accounting for a 57% share of total imports. Moreover, imports of PVC floor, wall and ceiling coverings from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X square meters), fivefold. South Korea (X square meters) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-7.0% per year) and South Korea (-1.6% per year).

In value terms, China ($X) constituted the largest supplier of PVC floor, wall and ceiling coverings to Hong Kong SAR, comprising 46% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9.1% share of total imports. It was followed by Sweden, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-4.9% per year) and Sweden (-1.2% per year).

Import Prices by Country

In 2022, the average import price for PVC floor, wall and ceiling coverings amounted to $X per square meter, growing by 6.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 13% against the previous year. Over the period under review, average import prices attained the maximum at $X per square meter in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per square meter), while the price for South Korea ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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