Hong Kong SAR, China: Market for Rigid Tubes, Pipes and Hoses, of Other Polymers 2024

Market Size for Rigid Tubes, Pipes and Hoses, of Other Polymers in Hong Kong SAR, China

After three years of growth, the Hong Kong market for rigid tubes, pipes and hoses, of other polymers decreased by -8.8% to $X in 2022. Overall, consumption, however, posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2021, and then dropped in the following year.

Exports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Exports from Hong Kong SAR, China

In 2022, approx. X tons of rigid tubes, pipes and hoses, of other polymers were exported from Hong Kong SAR; waning by -46.9% compared with 2021 figures. In general, exports showed a abrupt descent. The growth pace was the most rapid in 2013 with an increase of 40% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of rigid tubes, pipes and hoses, of other polymers fell sharply to $X in 2022. Overall, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2013 when exports increased by 27% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for exports of rigid tubes, pipes and hoses, of other polymers from Hong Kong SAR, with a 69% share of total exports. Moreover, exports of rigid tubes, pipes and hoses, of other polymers to China exceeded the volume sent to the second major destination, Japan (X tons), sixfold. The third position in this ranking was held by Singapore (X tons), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled -17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+4.7% per year) and Singapore (+9.7% per year).

In value terms, China ($X) remains the key foreign market for rigid tubes, pipes and hoses, of other polymers exports from Hong Kong SAR, comprising 58% of total exports. The second position in the ranking was taken by Singapore ($X), with an 11% share of total exports. It was followed by Japan, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value to China stood at -17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+19.4% per year) and Japan (+4.8% per year).

Export Prices by Country

The average export price for rigid tubes, pipes and hoses, of other polymers stood at $X per ton in 2022, falling by -28% against the previous year. In general, the export price recorded a slight contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 59% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Imports into Hong Kong SAR, China

After three years of growth, overseas purchases of rigid tubes, pipes and hoses, of other polymers decreased by -6.8% to X tons in 2022. In general, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 +86.3% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 38%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, imports of rigid tubes, pipes and hoses, of other polymers dropped to $X in 2022. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +18.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest rigid tubes, pipes and hoses, of other polymers supplier to Hong Kong SAR, accounting for a 63% share of total imports. Moreover, imports of rigid tubes, pipes and hoses, of other polymers from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) stood at +38.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.6% per year) and Thailand (+84.6% per year).

In value terms, the largest rigid tubes, pipes and hoses, of other polymers suppliers to Hong Kong SAR were Taiwan (Chinese) ($X), China ($X) and the United Arab Emirates ($X), with a combined 74% share of total imports. South Korea, Thailand and Oman lagged somewhat behind, together accounting for a further 11%.

In terms of the main suppliers, Thailand, with a CAGR of +39.0%, 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

In 2022, the average import price for rigid tubes, pipes and hoses, of other polymers amounted to $X per ton, dropping by -8.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 55% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average 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 United Arab Emirates ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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