Hong Kong SAR, China: Market for Tubes, Pipes And Hoses Of Vulcanized Rubber 2024

Market Size for Tubes, Pipes And Hoses Of Vulcanized Rubber in Hong Kong SAR, China

In 2021, the Hong Kong rubber tube and pipe market decreased by -2.7% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped modestly in the following year.

Production of Tubes, Pipes And Hoses Of Vulcanized Rubber in Hong Kong SAR, China

In value terms, rubber tube and pipe production fell to $X in 2021 estimated in export price. Overall, production showed a slight shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 33% against the previous year. As a result, production reached the peak level of $X, and then contracted in the following year.

Exports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Exports from Hong Kong SAR, China

Rubber tube and pipe exports from Hong Kong SAR fell to X tons in 2021, shrinking by -12.7% against the year before. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 46% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, rubber tube and pipe exports fell to $X in 2021. Over the period under review, exports saw a perceptible downturn. The most prominent rate of growth was recorded in 2015 with an increase of 26% against the previous year. Over the period under review, the exports attained 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 rubber tube and pipe exports from Hong Kong SAR, with a 90% share of total exports. Moreover, rubber tube and pipe exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. Canada (X tons) ranked third in terms of total exports with a 1.5% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-6.3% per year) and Canada (+17.3% per year).

In value terms, China ($X) remains the key foreign market for tubes, pipes and hoses of vulcanized rubber exports from Hong Kong SAR, comprising 80% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 5.4% share of total exports. It was followed by Japan, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-0.6% per year) and Japan (-11.5% per year).

Export Prices by Country

In 2021, the average rubber tube and pipe export price amounted to $X per ton, growing by 2.9% against the previous year. In general, the export price, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2014 when the average export price increased by 30%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Taiwan (Chinese) (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Imports into Hong Kong SAR, China

In 2021, overseas purchases of tubes, pipes and hoses of vulcanized rubber increased by 19% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 21% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, rubber tube and pipe imports surged to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest rubber tube and pipe supplier to Hong Kong SAR, accounting for a 78% share of total imports. Moreover, rubber tube and pipe imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), tenfold. Singapore (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-8.2% per year) and Singapore (-12.8% per year).

In value terms, China ($X) constituted the largest supplier of tubes, pipes and hoses of vulcanized rubber to Hong Kong SAR, comprising 52% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total imports. It was followed by the United States, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+1.7% per year) and the United States (+1.6% per year).

Import Prices by Country

In 2021, the average rubber tube and pipe import price amounted to $X per ton, rising by 3.4% against the previous year. Overall, the import price, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2020 an increase of 16% against the previous year. The import price peaked 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 the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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