Hong Kong SAR, China: Non-Reinforced Rubber Tubing Market 2024

Non-Reinforced Rubber Tubing Market Size in Hong Kong SAR, China

The Hong Kong non-reinforced rubber tubing market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption posted a moderate expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Non-Reinforced Rubber Tubing Exports

Exports from Hong Kong SAR, China

After two years of decline, shipments abroad of rubber tubing not reinforced increased by 33% to X tons in 2021. In general, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 71%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, non-reinforced rubber tubing exports soared to $X in 2021. Over the period under review, exports, however, showed a mild reduction. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for non-reinforced rubber tubing exports from Hong Kong SAR, with a 93% share of total exports. Moreover, non-reinforced rubber tubing exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+1.0% per year) and Japan (-25.8% per year).

In value terms, China ($X) remains the key foreign market for rubber tubing not reinforced exports from Hong Kong SAR, comprising 89% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 6.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-0.8% per year) and Japan (-24.5% per year).

Export Prices by Country

In 2021, the average non-reinforced rubber tubing export price amounted to $X per ton, picking up by 29% against the previous year. In general, the export price, however, continues to indicate a deep downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($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 Japan (+1.8%), while the prices for the other major destinations experienced a decline.

Non-Reinforced Rubber Tubing Imports

Imports into Hong Kong SAR, China

After two years of decline, supplies from abroad of rubber tubing not reinforced increased by 32% to X tons in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, non-reinforced rubber tubing imports soared to $X in 2021. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 39%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest non-reinforced rubber tubing supplier to Hong Kong SAR, accounting for a 86% share of total imports. Moreover, non-reinforced rubber tubing imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold. The third position in this ranking was held by Singapore (X tons), with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-11.8% per year) and Singapore (-0.1% per year).

In value terms, China ($X) constituted the largest supplier of rubber tubing not reinforced to Hong Kong SAR, comprising 79% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 5.1% share of total imports. It was followed by Singapore, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-11.4% per year) and Singapore (-2.9% per year).

Import Prices by Country

The average non-reinforced rubber tubing import price stood at $X per ton in 2021, surging by 1.7% against the previous year. Overall, the import price, however, showed a pronounced slump. The pace of growth was the most pronounced in 2016 when the average import price increased by 12%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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