Report Update Nov 1, 2024

Hong Kong SAR, China - Synthetic Rubber - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Hong Kong SAR, China

The Hong Kong synthetic rubber market surged to $X in 2021, with an increase of 28% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports from Hong Kong SAR, China

After two years of decline, overseas shipments of synthetic rubber increased by 8.2% to X tons in 2021. Overall, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 44%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic rubber exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt decrease. The exports peaked 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 rubber exports from Hong Kong SAR, accounting for a 83% share of total exports. Moreover, synthetic rubber exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at -8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+1.5% per year) and Taiwan (Chinese) (+6.3% per year).

In value terms, China ($X) remains the key foreign market for synthetic rubber exports from Hong Kong SAR, comprising 87% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 2.3% share of total exports. It was followed by Bangladesh, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-5.2% per year) and Bangladesh (+53.9% per year).

Export Prices by Country

In 2021, the average synthetic rubber export price amounted to $X per ton, picking up by 26% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2013; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 (+0.4%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in purchases abroad of synthetic rubber, when their volume increased by 5.2% to X tons. In general, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 30%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, synthetic rubber imports skyrocketed to $X in 2021. Overall, imports, however, saw a abrupt slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of synthetic rubber imports to Hong Kong SAR, with a combined 64% share of total imports. These countries were followed by Taiwan (Chinese), the United States, Germany, Belgium and Russia, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +1.3%), while purchases for the other leaders experienced a decline.

In value terms, the largest synthetic rubber suppliers to Hong Kong SAR were Japan ($X), China ($X) and South Korea ($X), with a combined 67% share of total imports. Taiwan (Chinese), the United States, Belgium, Germany and Russia lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, Belgium, with a CAGR of +0.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average synthetic rubber import price amounted to $X per ton, jumping by 35% against the previous year. Overall, the import price, however, continues to indicate a pronounced decrease. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 Japan ($X per ton), while the price for Germany ($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 (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for synthetic rubber in the world?

The country with the largest volume of synthetic rubber consumption was China, comprising approx. 31% of total volume. Moreover, synthetic rubber consumption in China exceeded the figures recorded by the second-largest consumer, the U.S., threefold. The third position in this ranking was occupied by Japan, with a 5.3% share.

What are the largest producers of synthetic rubber in the world?

The countries with the highest volumes of synthetic rubber production in 2020 were the U.S., China and South Korea, together accounting for 35% of global production. Japan, Russia, Thailand, Vietnam, Germany, Indonesia, Taiwan Chinese), Mexico, France and Italy lagged somewhat behind, together accounting for a further 43%.

What are the leading suppliers of synthetic rubber to Hong Kong SAR, China?

In value terms, the largest synthetic rubber suppliers to Hong Kong SAR were China, Japan and South Korea, together accounting for 64% of total imports. These countries were followed by the U.S., Taiwan Chinese), Germany, Singapore and Malaysia, which together accounted for a further 27%.

What are the leading importers of synthetic rubber from Hong Kong SAR, China?

In value terms, China remains the key foreign market for synthetic rubber exports from Hong Kong SAR, comprising 85% of total exports. The second position in the ranking was occupied by Taiwan Chinese), with a 2.8% share of total exports. It was followed by Vietnam, with a 2.3% share.

What is the average export price for synthetic rubber in Hong Kong SAR, China?

The average synthetic rubber export price stood at $2,757 per ton in 2020, dropping by -4.4% against the previous year.

What is the average import price for synthetic rubber in Hong Kong SAR, China?

In 2020, the average synthetic rubber import price amounted to $2,050 per ton, falling by -8.4% against the previous year.

This report provides an in-depth analysis of the synthetic rubber market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20171050 - Synthetic latex rubber
Prodcom 20171090 - Synthetic rubber (excluding latex)

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023