Hong Kong SAR, China: Metal-Reinforced Rubber Hose Market 2024

Metal-Reinforced Rubber Hose Market Size in Hong Kong SAR, China

The Hong Kong metal-reinforced rubber hose market surged to $X in 2022, picking up by 15% against the previous year. Overall, consumption showed a prominent expansion. Metal-reinforced rubber hose consumption peaked in 2022 and is expected to retain growth in the near future.

Metal-Reinforced Rubber Hose Production in Hong Kong SAR, China

In value terms, metal-reinforced rubber hose production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 146% against the previous year. Metal-reinforced rubber hose production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Metal-Reinforced Rubber Hose Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of rubber hose reinforced with metal were exported from Hong Kong SAR; with a decrease of -11.4% on 2021. Over the period under review, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 59% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal-reinforced rubber hose exports reached $X in 2022. In general, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2015 when exports increased by 71% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for metal-reinforced rubber hose exports from Hong Kong SAR, accounting for a 74% share of total exports. Moreover, metal-reinforced rubber hose exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), fourfold. Thailand (X tons) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at -12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-22.2% per year) and Thailand (+15.5% per year).

In value terms, China ($X) remains the key foreign market for rubber hose reinforced with metal exports from Hong Kong SAR, comprising 40% of total exports. The second position in the ranking was held by Japan ($X), with a 19% share of total exports. It was followed by Taiwan (Chinese), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1.6% per year) and Taiwan (Chinese) (-8.5% per year).

Export Prices by Country

In 2022, the average metal-reinforced rubber hose export price amounted to $X per ton, growing by 14% against the previous year. In general, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 96%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to Canada ($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 New Zealand (+110.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal-Reinforced Rubber Hose Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of rubber hose reinforced with metal was finally on the rise to reach X tons after seven years of decline. Overall, imports, however, recorded a pronounced setback. The pace of growth appeared the most rapid in 2014 when imports increased by 67% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, metal-reinforced rubber hose imports soared to $X in 2022. In general, imports, however, recorded a pronounced curtailment. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia (X tons), China (X tons) and Singapore (X tons) were the main suppliers of metal-reinforced rubber hose imports to Hong Kong SAR, with a combined 94% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +22.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal-reinforced rubber hose suppliers to Hong Kong SAR were Malaysia ($X), France ($X) and China ($X), with a combined 83% share of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +24.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average metal-reinforced rubber hose import price stood at $X per ton in 2022, dropping by -4.4% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 26% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 France ($X per ton), while the price for Malaysia ($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 States (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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