Hong Kong SAR, China: Threaded Metal Articles Market 2024

Threaded Metal Articles Market Size in Hong Kong SAR, China

In 2021, after two years of growth, there was decline in the Hong Kong threaded metal articles market, when its value decreased by -1.2% to $X. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +17.2% against 2018 indices. Threaded metal articles consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Threaded Metal Articles Exports

Exports from Hong Kong SAR, China

After seven years of decline, overseas shipments of threaded articles of iron or steel increased by 30% to X tons in 2021. Overall, exports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 when exports increased by 61%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, threaded metal articles exports skyrocketed to $X in 2021. In general, exports showed a mild expansion. The pace of growth was the most pronounced in 2013 when exports increased by 112%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons), China (X tons) and the United States (X tons) were the main destinations of threaded metal articles exports from Hong Kong SAR, together accounting for 79% of total exports. Mexico, Singapore, Guam, South Korea and Australia lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guam (with a CAGR of +41.9%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for threaded articles of iron or steel exports from Hong Kong SAR, comprising 45% of total exports. The second position in the ranking was held by the United States ($X), with a 16% share of total exports. It was followed by Macao SAR, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+6.9% per year) and Macao SAR (+63.6% per year).

Export Prices by Country

The average threaded metal articles export price stood at $X per ton in 2021, increasing by 9.7% against the previous year. Over the last nine years, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 32%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Guam ($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 South Korea (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Threaded Metal Articles Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of threaded articles of iron or steel increased by 9.1% to X tons, rising for the third year in a row after two years of decline. In general, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.3% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 36%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, threaded metal articles imports declined to $X in 2021. Overall, imports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2014 when imports increased by 28%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest threaded metal articles supplier to Hong Kong SAR, accounting for a 80% share of total imports. Moreover, threaded metal articles imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sixfold. Singapore (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+39.8% per year) and Singapore (-3.9% per year).

In value terms, China ($X) constituted the largest supplier of threaded articles of iron or steel to Hong Kong SAR, comprising 38% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-10.0% per year) and Singapore (-7.3% per year).

Import Prices by Country

In 2021, the average threaded metal articles import price amounted to $X per ton, waning by -17.1% against the previous year. Over the period under review, the import price recorded a abrupt setback. The growth pace was the most rapid in 2018 when the average import price increased by 25%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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