Hong Kong SAR, China: Plastic Support Market 2024

Plastic Support Market Size in Hong Kong SAR, China

The Hong Kong plastic support market fell slightly to $X in 2022, shrinking by -3.1% against the previous year. Overall, consumption showed a pronounced contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Plastic Support Production in Hong Kong SAR, China

In value terms, plastic support production stood at $X in 2022 estimated in export price. In general, production showed a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 9.8% against the previous year. Plastic support production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Plastic Support Exports

Exports from Hong Kong SAR, China

In 2022, the amount of spools, cops and similar supports of plastics exported from Hong Kong SAR declined notably to X tons, with a decrease of -37% on the previous year's figure. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic support exports contracted notably to $X in 2022. Overall, exports saw a deep slump. The pace of growth was the most pronounced in 2021 when exports increased by 26%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), China (X tons) and the United States (X tons) were the main destinations of plastic support exports from Hong Kong SAR, with a combined 66% share of total exports. Japan, the UK, Indonesia, France, Spain, Italy and Canada lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +16.5%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and the United States ($X) were the largest markets for plastic support exported from Hong Kong SAR worldwide, together comprising 67% of total exports. Japan, the UK, Indonesia, France, Spain, Italy and Canada lagged somewhat behind, together accounting for a further 22%.

Spain, with a CAGR of +18.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic support export price amounted to $X per ton, rising by 3.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2021 when the average export price increased by 11%. The export price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and Canada ($X per ton), while the average price for exports to Indonesia ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Support Imports

Imports into Hong Kong SAR, China

Plastic support imports into Hong Kong SAR reduced markedly to X tons in 2022, declining by -41% against the year before. Over the period under review, imports saw a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 7.3%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic support imports shrank rapidly to $X in 2022. In general, imports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plastic support supplier to Hong Kong SAR, with a 64% share of total imports. Moreover, plastic support imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sevenfold. Japan (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.9% per year) and Japan (-6.8% per year).

In value terms, China ($X) constituted the largest supplier of spools, cops and similar supports of plastics to Hong Kong SAR, comprising 64% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9% share of total imports. It was followed by Japan, with an 8% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+4.1% per year) and Japan (-4.5% per year).

Import Prices by Country

The average plastic support import price stood at $X per ton in 2022, increasing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Taiwan (Chinese) ($X per ton) and the United States ($X per ton), while the price for Germany ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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