Hong Kong SAR, China: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Hong Kong SAR, China

The Hong Kong vulcanised rubber thread market surged to $X in 2021, with an increase of 67% against the previous year. In general, consumption, however, saw a abrupt contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Vulcanised Rubber Thread Production in Hong Kong SAR, China

In value terms, vulcanised rubber thread production dropped slightly to $X in 2021 estimated in export price. Overall, production showed a sharp shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 107% against the previous year. Vulcanised rubber thread production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Vulcanised Rubber Thread Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of vulcanised rubber thread and cord increased by 107% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, faced a significant curtailment. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, vulcanised rubber thread exports surged to $X in 2021. Over the period under review, exports, however, faced a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for vulcanised rubber thread exports from Hong Kong SAR, accounting for a 97% share of total exports. It was followed by Vietnam (X tons), with a 0.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -12.9%.

In value terms, China ($X) remains the key foreign market for vulcanised rubber thread and cord exports from Hong Kong SAR, comprising 94% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China totaled -10.2%.

Export Prices by Country

The average vulcanised rubber thread export price stood at $X per ton in 2021, picking up by 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.9%. The growth pace was the most rapid in 2013 when the average export price increased by 60% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of vulcanised rubber thread and cord was finally on the rise to reach X tons for the first time since 2012, thus ending a eight-year declining trend. In general, imports, however, continue to indicate a abrupt curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, vulcanised rubber thread imports skyrocketed to $X in 2021. Overall, imports, however, saw a drastic downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of vulcanised rubber thread to Hong Kong SAR, accounting for a 77% share of total imports. Moreover, vulcanised rubber thread imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. The third position in this ranking was taken by India (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand amounted to -17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.7% per year) and India (+33.8% per year).

In value terms, Thailand ($X) constituted the largest supplier of vulcanised rubber thread and cord to Hong Kong SAR, comprising 57% of total imports. The second position in the ranking was held by India ($X), with a 24% share of total imports. It was followed by China, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from Thailand amounted to -19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+37.9% per year) and China (-10.4% per year).

Import Prices by Country

In 2021, the average vulcanised rubber thread import price amounted to $X per ton, surging by 35% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised rubber thread import price increased by +49.7% against 2019 indices. As a result, import price reached the peak level 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 India ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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