Hong Kong SAR, China: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Hong Kong SAR, China

The Hong Kong unvulcanised rubber market amounted to $X in 2021, surging by 14% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Unvulcanised Rubber Production in Hong Kong SAR, China

In value terms, unvulcanised rubber production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Unvulcanised Rubber Exports

Exports from Hong Kong SAR, China

In 2021, after three years of decline, there was significant growth in shipments abroad of unvulcanised rubber, when their volume increased by 40% to X tons. In general, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 44% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, unvulcanised rubber exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a perceptible decrease. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for unvulcanised rubber exports from Hong Kong SAR, accounting for a 92% share of total exports. Moreover, unvulcanised rubber exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China stood at -5.9%.

In value terms, China ($X) remains the key foreign market for unvulcanised rubber exports from Hong Kong SAR, comprising 95% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 5.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China totaled -5.2%.

Export Prices by Country

In 2021, the average unvulcanised rubber export price amounted to $X per ton, increasing by 6.2% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 33% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.8%).

Unvulcanised Rubber Imports

Imports into Hong Kong SAR, China

In 2021, after three years of decline, there was significant growth in purchases abroad of unvulcanised rubber, when their volume increased by 39% to X tons. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 45% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, unvulcanised rubber imports soared to $X in 2021. Over the period under review, imports showed a pronounced expansion. The most prominent rate of growth was recorded in 2014 with an increase of 70% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons) constituted the largest unvulcanised rubber supplier to Hong Kong SAR, accounting for a 68% share of total imports. Moreover, unvulcanised rubber imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.3% per year) and the United States (-3.3% per year).

In value terms, Japan ($X) constituted the largest supplier of unvulcanised rubber to Hong Kong SAR, comprising 62% of total imports. The second position in the ranking was held by the United States ($X), with an 18% share of total imports. It was followed by China, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.7% per year) and China (+9.3% per year).

Import Prices by Country

The average unvulcanised rubber import price stood at $X per ton in 2021, rising by 7.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 21% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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