Hong Kong SAR, China: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in Hong Kong SAR, China

The Hong Kong vulcanised cellular rubber articles market totaled $X in 2021, rising by 4% against the previous year. Overall, consumption showed strong growth. Vulcanised cellular rubber articles consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Vulcanised Cellular Rubber Articles For Technical Uses in Hong Kong SAR, China

In value terms, vulcanised cellular rubber articles production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 140%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports from Hong Kong SAR, China

In 2021, shipments abroad of vulcanised cellular rubber articles for technical uses decreased by -44.3% to X tons, falling for the third consecutive year after two years of growth. In general, exports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 197%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, vulcanised cellular rubber articles exports dropped markedly to $X in 2021. Overall, exports, however, saw buoyant growth. The growth pace was the most rapid in 2018 when exports increased by 198%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), China (X tons) and the UK (X tons) were the main destinations of vulcanised cellular rubber articles exports from Hong Kong SAR, together comprising 70% of total exports. The Philippines, Japan, Vietnam, Canada, the Netherlands, Germany, South Korea and France lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +126.5%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Vietnam ($X) appeared to be the largest markets for vulcanised cellular rubber articles exported from Hong Kong SAR worldwide, with a combined 59% share of total exports. These countries were followed by the Philippines, Japan, Germany, France, the UK, South Korea, the Netherlands and Canada, which together accounted for a further 29%.

Japan, with a CAGR of +120.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vulcanised cellular rubber articles export price stood at $X per ton in 2021, which is down by -17.4% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 56%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020, and then contracted significantly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Canada ($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 Germany (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports into Hong Kong SAR, China

In 2021, purchases abroad of vulcanised cellular rubber articles for technical uses increased by 9.5% to X tons, rising for the second year in a row after two years of decline. In general, imports recorded resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 163% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, vulcanised cellular rubber articles imports amounted to $X in 2021. Overall, imports enjoyed a measured expansion. The pace of growth was the most pronounced in 2017 when imports increased by 140%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest vulcanised cellular rubber articles supplier to Hong Kong SAR, with a 84% share of total imports. Moreover, vulcanised cellular rubber articles imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+33.3% per year) and Japan (-19.2% per year).

In value terms, China ($X) constituted the largest supplier of vulcanised cellular rubber articles for technical uses to Hong Kong SAR, comprising 60% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 22% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+35.0% per year) and Japan (-18.9% per year).

Import Prices by Country

In 2021, the average vulcanised cellular rubber articles import price amounted to $X per ton, reducing by -7.5% against the previous year. In general, the import price recorded a pronounced decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by 29%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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