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

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

In 2022, the Hong Kong market for rigid tubes, pipes and hoses of polymers of vinyl chloride increased by 4.6% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Exports from Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in overseas shipments of rigid tubes, pipes and hoses of polymers of vinyl chloride, when their volume decreased by -79.7% to X tons. Overall, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2013 with an increase of 74% 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, vinyl chloride polymer rigid pipes exports fell remarkably to $X in 2022. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 54%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for vinyl chloride polymer rigid pipes exports from Hong Kong SAR, accounting for a 63% share of total exports. Moreover, vinyl chloride polymer rigid pipes exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at -13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-1.9% per year) and the United States (-13.7% per year).

In value terms, China ($X) remains the key foreign market for rigid tubes, pipes and hoses of polymers of vinyl chloride exports from Hong Kong SAR, comprising 64% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at -9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-0.2% per year) and the United States (-9.9% per year).

Export Prices by Country

In 2022, the average export price for rigid tubes, pipes and hoses of polymers of vinyl chloride amounted to $X per ton, rising by 43% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vinyl chloride polymer rigid pipes export price increased by +58.5% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Macao SAR ($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 China (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of rigid tubes, pipes and hoses of polymers of vinyl chloride decreased by -4.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 30%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, vinyl chloride polymer rigid pipes imports declined modestly to $X in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 24% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of vinyl chloride polymer rigid pipes to Hong Kong SAR, with a 95% share of total imports. It was followed by Japan (X tons), with a 3% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of rigid tubes, pipes and hoses of polymers of vinyl chloride to Hong Kong SAR, comprising 87% of total imports. The second position in the ranking was held by Japan ($X), with a 6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +1.5%.

Import Prices by Country

The average import price for rigid tubes, pipes and hoses of polymers of vinyl chloride stood at $X per ton in 2022, surging by 3.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2014 when the average import price increased by 14%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.7%).

Source: IndexBox Platform

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