Hong Kong SAR, China: Textile Rubber Hose Market 2024

Textile Rubber Hose Market Size in Hong Kong SAR, China

In 2021, after three years of decline, there was significant growth in the Hong Kong textile rubber hose market, when its value increased by 171% to $X. Overall, consumption, however, showed a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Textile Rubber Hose Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of rubber hose reinforced with textiles decreased by -82.9% to X tons, falling for the third consecutive year after two years of growth. Overall, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 608% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, textile rubber hose exports declined remarkably to $X in 2021. In general, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2018 when exports increased by 427%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for textile rubber hose exports from Hong Kong SAR, accounting for a 47% share of total exports. Moreover, textile rubber hose exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Macao SAR totaled +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-20.2% per year) and the United States (+1.7% per year).

In value terms, Singapore ($X) emerged as the key foreign market for rubber hose reinforced with textiles exports from Hong Kong SAR, comprising 44% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 21% share of total exports. It was followed by China, with an 18% share.

From 2012 to 2021, the average annual growth rate of value to Singapore amounted to +62.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+13.9% per year) and China (-18.4% per year).

Export Prices by Country

The average textile rubber hose export price stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, textile rubber hose export price increased by +22.0% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 22% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Textile Rubber Hose Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of rubber hose reinforced with textiles was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, imports, however, saw a abrupt downturn. The growth pace was the most rapid in 2016 when imports increased by 55% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, textile rubber hose imports surged to $X in 2021. Overall, imports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 98% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest supplier of textile rubber hose to Hong Kong SAR, with a 58% share of total imports. Moreover, textile rubber hose imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Malaysia (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-16.1% per year) and Malaysia (+219.0% per year).

In value terms, Malaysia ($X) constituted the largest supplier of rubber hose reinforced with textiles to Hong Kong SAR, comprising 56% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia totaled +199.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+35.6% per year) and Taiwan (Chinese) (+6.8% per year).

Import Prices by Country

In 2021, the average textile rubber hose import price amounted to $X per ton, falling by -15.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 52% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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