Hong Kong SAR, China: Non-Cotton Terry Towelling Market 2025

Non-Cotton Terry Towelling Market Size in Hong Kong SAR, China

The Hong Kong non-cotton terry towelling market skyrocketed to $X in 2021, jumping by 19% against the previous year. Over the period under review, consumption enjoyed a significant increase. Non-cotton terry towelling consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Non-Cotton Terry Towelling Production in Hong Kong SAR, China

In value terms, non-cotton terry towelling production shrank notably to $X in 2021 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 45%. As a result, production attained the peak level of $X, and then shrank notably in the following year.

Non-Cotton Terry Towelling Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of terry towelling (excluding of cotton) decreased by -91.9% to X square meters for the first time since 2018, thus ending a two-year rising trend. Overall, exports saw a sharp setback. The pace of growth was the most pronounced in 2019 with an increase of 2,239% against the previous year. Over the period under review, the exports attained the peak figure at X square meters in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-cotton terry towelling exports reduced dramatically to $X in 2021. In general, exports saw a precipitous descent. The pace of growth appeared the most rapid in 2019 when exports increased by 3,715%. Over the period under review, the exports reached the maximum at $X in 2020, and then declined significantly in the following year.

Exports by Country

The United States (X square meters) was the main destination for non-cotton terry towelling exports from Hong Kong SAR, accounting for a 66% share of total exports. Moreover, non-cotton terry towelling exports to the United States exceeded the volume sent to the second major destination, Chile (X square meters), fivefold. China (X square meters) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (0.0% per year) and China (-41.2% per year).

In value terms, the United States ($X), Chile ($X) and China ($X) were the largest markets for non-cotton terry towelling exported from Hong Kong SAR worldwide, with a combined 96% share of total exports.

The United States, with a CAGR of +17.7%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average non-cotton terry towelling export price stood at $X per square meter in 2021, waning by -51% against the previous year. Over the period under review, the export price, however, saw resilient growth. The pace of growth was the most pronounced in 2020 an increase of 96%. As a result, the export price reached the peak level of $X per square meter, and then contracted rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per square meter), while the average price for exports to Canada ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+15.4%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cotton Terry Towelling Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of terry towelling (excluding of cotton) increased by 4.5% to X square meters, rising for the second year in a row after two years of decline. Over the period under review, imports saw significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 4,262% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, non-cotton terry towelling imports expanded significantly to $X in 2021. Overall, imports showed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 3,849%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X square meters) was the main supplier of non-cotton terry towelling to Hong Kong SAR, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +70.5%.

In value terms, China ($X) constituted the largest supplier of terry towelling (excluding of cotton) to Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +70.3%.

Import Prices by Country

The average non-cotton terry towelling import price stood at $X per square meter in 2021, picking up by 5.7% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2018 an increase of 121% against the previous year. Over the period under review, average import prices hit record highs at $X per square meter in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, 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 -0.1% per year.

Source: IndexBox Platform

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