Hong Kong SAR, China: Veneer Sheet Market 2024

Veneer Sheet Market Size in Hong Kong SAR, China

The Hong Kong veneer sheet market declined to $X in 2022, which is down by -10.4% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Veneer Sheet Production in Hong Kong SAR, China

In value terms, veneer sheet production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 25% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Veneer Sheet Exports

Exports from Hong Kong SAR, China

In 2022, approx. X square meters of veneer sheets and sheets for plywood and other wood sawn lengthwise were exported from Hong Kong SAR; rising by 180% compared with the previous year. In general, exports, however, saw a pronounced downturn. The exports peaked at X square meters in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, veneer sheet exports surged to $X in 2022. Overall, exports, however, showed a deep slump. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China (X square meters) was the main destination for veneer sheet exports from Hong Kong SAR, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China stood at -4.5%.

In value terms, China ($X) also remains the key foreign market for veneer sheets and sheets for plywood and other wood sawn lengthwise exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -8.8%.

Export Prices by Country

In 2022, the average veneer sheet export price amounted to $X per square meter, rising by 5.5% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible downturn. The growth pace was the most rapid in 2016 when the average export price increased by 20% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2017 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -4.5% per year.

Veneer Sheet Imports

Imports into Hong Kong SAR, China

Veneer sheet imports into Hong Kong SAR soared to X square meters in 2022, surging by 115% on 2021 figures. In general, imports, however, recorded a abrupt decline. Imports peaked at X square meters in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, veneer sheet imports soared to $X in 2022. Overall, imports, however, recorded a abrupt contraction. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X square meters) constituted the largest supplier of veneer sheet to Hong Kong SAR, with a 74% share of total imports. Moreover, veneer sheet imports from Italy exceeded the figures recorded by the second-largest supplier, China (X square meters), tenfold. The third position in this ranking was held by Germany (X square meters), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-23.3% per year) and Germany (-18.7% per year).

In value terms, Italy ($X) constituted the largest supplier of veneer sheets and sheets for plywood and other wood sawn lengthwise to Hong Kong SAR, comprising 59% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by Spain, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.3% per year) and Spain (-11.8% per year).

Import Prices by Country

In 2022, the average veneer sheet import price amounted to $X per square meter, falling by -8.1% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, veneer sheet import price increased by +45.4% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 39% against the previous year. The import price peaked at $X per square meter in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per square meter), while the price for China ($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 Germany (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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