Hong Kong SAR, China: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Hong Kong SAR, China

The Hong Kong synthetic filament tow market amounted to $X in 2021, growing by 1.7% against the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +37.3% against 2017 indices. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the near future.

Synthetic Filament Tow Production in Hong Kong SAR, China

In value terms, synthetic filament tow production declined modestly to $X in 2021 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +45.3% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 32% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped modestly in the following year.

Synthetic Filament Tow Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of synthetic filament tow and staple fibers, not carded or combed decreased by -20.1% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2017 when exports increased by 21% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, synthetic filament tow exports reduced to $X in 2021. In general, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2016 when exports increased by 2.5%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for synthetic filament tow exports from Hong Kong SAR, accounting for a 79% share of total exports. Moreover, synthetic filament tow exports to China exceeded the volume sent to the second major destination, Thailand (X tons), ninefold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to -17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+5.6% per year) and Taiwan (Chinese) (+8.0% per year).

In value terms, China ($X) remains the key foreign market for synthetic filament tow exports from Hong Kong SAR, comprising 54% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 18% share of total exports. It was followed by Thailand, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled -14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+8.9% per year) and Thailand (+2.6% per year).

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, rising by 8.6% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, synthetic filament tow export price increased by +100.7% against 2017 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 48%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to China ($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 China (+4.7%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Filament Tow Imports

Imports into Hong Kong SAR, China

For the fourth consecutive year, Hong Kong SAR recorded decline in purchases abroad of synthetic filament tow and staple fibers, not carded or combed, which decreased by -2.9% to X tons in 2021. In general, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 22%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, synthetic filament tow imports shrank modestly to $X in 2021. Overall, imports showed a abrupt setback. The growth pace was the most rapid in 2018 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of synthetic filament tow imports to Hong Kong SAR, together comprising 72% 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 -13.9%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest synthetic filament tow suppliers to Hong Kong SAR, together accounting for 90% of total imports.

China, with a CAGR of -1.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average synthetic filament tow import price amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price posted strong growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 75% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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