Hong Kong SAR, China: Market for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers 2025

Market Size for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in the Hong Kong spindles and spindle flyer market, when its value decreased by -67.5% to $X. In general, consumption showed a abrupt contraction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Hong Kong SAR, China

In value terms, spindles and spindle flyer production amounted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with a decrease of 99.9%. Spindles and spindle flyer production peaked in 2022 and is likely to see steady growth in the immediate term.

Exports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Exports from Hong Kong SAR, China

In 2022, approx. X tons of spindles and spindle flyers, spinning ring and ring travellers were exported from Hong Kong SAR; with a decrease of -26.9% on the previous year. In general, exports, however, recorded perceptible growth. The growth pace was the most rapid in 2019 when exports increased by 54%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, spindles and spindle flyer exports contracted to $X in 2022. Over the period under review, exports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by 62% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for spindles and spindle flyer exports from Hong Kong SAR, with a 86% share of total exports. Moreover, spindles and spindle flyer exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The UK (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+5.6% per year) and the UK (0.0% per year).

In value terms, China ($X) remains the key foreign market for spindles and spindle flyers, spinning ring and ring travellers exports from Hong Kong SAR, comprising 91% of total exports. The second position in the ranking was held by the UK ($X), with a 3.8% share of total exports. It was followed by Vietnam, with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Vietnam (+8.3% per year).

Export Prices by Country

The average spindles and spindle flyer export price stood at $X per ton in 2022, with an increase of 25% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spindles and spindle flyer export price increased by +94.3% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of 36%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the United States ($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 the United States (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Imports into Hong Kong SAR, China

In 2022, approx. X tons of spindles and spindle flyers, spinning ring and ring travellers were imported into Hong Kong SAR; which is down by -43.6% on 2021 figures. Overall, imports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2018 when imports increased by 51% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, spindles and spindle flyer imports dropped markedly to $X in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value 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, imports decreased by -15.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

The United States (X tons), India (X tons) and China (X kg) were the main suppliers of spindles and spindle flyer imports to Hong Kong SAR.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +3.0%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of spindles and spindle flyers, spinning ring and ring travellers to Hong Kong SAR, comprising 77% of total imports. The second position in the ranking was taken by India ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-1.3% per year) and China (-27.9% per year).

Import Prices by Country

In 2022, the average spindles and spindle flyer import price amounted to $X per ton, picking up by 27% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spindles and spindle flyer import price increased by +122.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 54% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 the United States ($X per ton), while the price for China ($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 (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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