Hong Kong SAR, China: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Hong Kong SAR, China

The Hong Kong market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles rose significantly to $X in 2021, increasing by 10% against the previous year. Over the period under review, consumption continues to indicate buoyant growth. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Hong Kong SAR, China

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles expanded rapidly to $X in 2021 estimated in export price. In general, production continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 45%. As a result, production attained the peak level of $X. From 2020 to 2021, production of growth remained at a somewhat lower figure.

Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports from Hong Kong SAR, China

In 2021, shipments abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of 65% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2021. In general, exports, however, saw a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 102% against the previous year. Over the period under review, the exports of reached the peak figure 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 exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Hong Kong SAR, with a approx. 98% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -7.8%.

In value terms, China ($X) also remains the key foreign market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exports from Hong Kong SAR.

From 2012 to 2021, the average annual growth rate of value to China amounted to -5.6%.

Export Prices by Country

The average export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2021, increasing by 21% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2017 when the average export price increased by 23%. The export price peaked in 2021 and is likely to see steady growth in years to come.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +2.4% per year.

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports into Hong Kong SAR, China

In 2021, the amount of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles imported into Hong Kong SAR shrank to X tons, dropping by -9.9% on the previous year's figure. Over the period under review, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 55%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles soared to $X in 2021. Overall, imports saw a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 115% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), China (X tons) and Japan (X tons) were the main suppliers of imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Hong Kong SAR, together accounting for 88% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -3.2%), while imports for the other leaders experienced a decline.

In value terms, the largest glass fibre filament, roving, and staple glass fibre article suppliers to Hong Kong SAR were Japan ($X), Malaysia ($X) and China ($X), with a combined 82% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of -2.5%, 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 a decline.

Import Prices by Country

The average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2021, growing by 45% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :