Hong Kong SAR, China: Tufted Carpet Market 2025

Tufted Carpet Market Size in Hong Kong SAR, China

In 2022, the Hong Kong tufted carpet market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, continues to indicate a deep slump. The growth pace was the most rapid in 2016 with an increase of 9.7%. Tufted carpet consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tufted Carpet Exports

Exports from Hong Kong SAR, China

In 2022, approx. X square meters of tufted carpets and other tufted textile floor coverings were exported from Hong Kong SAR; with a decrease of -39.2% against the year before. Over the period under review, exports saw a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of 266%. The exports peaked at X square meters in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, tufted carpet exports declined sharply to $X in 2022. Overall, exports showed a deep contraction. The pace of growth was the most pronounced in 2021 when exports increased by 28%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China (X square meters), Spain (X square meters) and India (X square meters) were the main destinations of tufted carpet exports from Hong Kong SAR, together comprising 38% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +22.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and South Korea ($X) appeared to be the largest markets for tufted carpet exported from Hong Kong SAR worldwide, together comprising 44% of total exports. Macao SAR, Australia, Spain, France, India, Israel, Brazil, Panama, Greece and Bolivia lagged somewhat behind, together comprising a further 18%.

Among the main countries of destination, Greece, with a CAGR of +2.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average tufted carpet export price amounted to $X per square meter, with an increase of 15% against the previous year. Overall, the export price, however, recorded a deep slump. The most prominent rate of growth was recorded in 2020 when the average export price increased by 102%. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per square meter), while the average price for exports to Brazil ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Tufted Carpet Imports

Imports into Hong Kong SAR, China

In 2022, the amount of tufted carpets and other tufted textile floor coverings imported into Hong Kong SAR dropped to X square meters, falling by -9.1% on the year before. In general, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, imports reached the peak figure at X square meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, tufted carpet imports dropped to $X in 2022. Overall, imports saw a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X square meters) constituted the largest tufted carpet supplier to Hong Kong SAR, accounting for a 66% share of total imports. Moreover, tufted carpet imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X square meters), more than tenfold. Japan (X square meters) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.3% per year) and Japan (-2.9% per year).

In value terms, China ($X) constituted the largest supplier of tufted carpets and other tufted textile floor coverings to Hong Kong SAR, comprising 70% of total imports. The second position in the ranking was taken by Thailand ($X), with a 4.9% share of total imports. It was followed by Japan, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-4.4% per year) and Japan (-6.2% per year).

Import Prices by Country

The average tufted carpet import price stood at $X per square meter in 2022, dropping by -6.1% against the previous year. In general, the import price showed a slight setback. The growth pace was the most rapid in 2020 when the average import price increased by 9.9% against the previous year. The import price peaked at $X per square meter in 2013; however, from 2014 to 2022, 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 Thailand ($X per square meter), while the price for Belgium ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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