Hong Kong SAR, China: Net Fabric Market 2024

Net Fabric Market Size in Hong Kong SAR, China

The Hong Kong net fabric market surged to $X in 2022, increasing by 20% against the previous year. In general, consumption showed a prominent expansion. Net fabric consumption peaked in 2022 and is likely to continue growth in the near future.

Net Fabric Production in Hong Kong SAR, China

In value terms, net fabric production contracted to $X in 2022 estimated in export price. In general, production showed a pronounced expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 58% against the previous year. Net fabric production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Net Fabric Exports

Exports from Hong Kong SAR, China

Net fabric exports from Hong Kong SAR expanded notably to X tons in 2022, with an increase of 8.5% against 2021. In general, exports, however, recorded a abrupt downturn. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, net fabric exports amounted to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 23%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Vietnam (X tons) and Cambodia (X tons) were the main destinations of net fabric exports from Hong Kong SAR, with a combined 81% share of total exports. India, Sri Lanka, Indonesia and Bangladesh lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +32.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for tulles and other net fabrics exports from Hong Kong SAR, comprising 48% of total exports. The second position in the ranking was held by Vietnam ($X), with a 22% share of total exports. It was followed by Cambodia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+6.6% per year) and Cambodia (+16.8% per year).

Export Prices by Country

The average net fabric export price stood at $X per ton in 2022, increasing by 5.5% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, net fabric export price increased by +38.0% against 2017 indices. The pace of growth was the most pronounced in 2017 an increase of 22%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Net Fabric Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of tulles and other net fabrics decreased by -47.2% to X tons, falling for the seventh consecutive year after two years of growth. In general, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 3% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, net fabric imports shrank dramatically to $X in 2022. Over the period under review, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 10%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest net fabric supplier to Hong Kong SAR, accounting for a 59% share of total imports. Moreover, net fabric imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-21.5% per year) and South Korea (-24.8% per year).

In value terms, China ($X) constituted the largest supplier of tulles and other net fabrics to Hong Kong SAR, comprising 39% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 20% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-19.6% per year) and South Korea (-20.8% per year).

Import Prices by Country

In 2022, the average net fabric import price amounted to $X per ton, rising by 17% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. The pace of growth was the most pronounced in 2021 when the average import price increased by 20% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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