Hong Kong SAR, China: Waste Cork Market 2024

Waste Cork Market Size in Hong Kong SAR, China

The Hong Kong waste cork market was estimated at $X in 2021, flattening at the previous year. In general, consumption continues to indicate a pronounced contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Waste Cork Production in Hong Kong SAR, China

In value terms, waste cork production rose to $X in 2021 estimated in export price. Over the period under review, production recorded a pronounced descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by 39% against the previous year. Waste cork production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Waste Cork Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of waste cork, crushed, granulated or ground cork decreased by -64% to X kg, falling for the second consecutive year after three years of growth. In general, exports recorded a noticeable slump. The pace of growth appeared the most rapid in 2015 with an increase of 254% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, waste cork exports dropped sharply to $X in 2021. Overall, exports recorded a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by 221%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X kg) and the UK (X kg) were the main destinations of waste cork exports from Hong Kong SAR.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +7.4%).

In value terms, the UK ($X) remains the key foreign market for waste cork, crushed, granulated or ground cork exports from Hong Kong SAR, comprising 61% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK totaled -14.6%.

Export Prices by Country

The average waste cork export price stood at $X per ton in 2021, falling by -59.7% against the previous year. Overall, the export price saw a deep contraction. The growth pace was the most rapid in 2016 when the average export price increased by 123%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Indonesia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+61.3%), while the prices for the other major destinations experienced more modest paces of growth.

Waste Cork Imports

Imports into Hong Kong SAR, China

In 2021, the amount of waste cork, crushed, granulated or ground cork imported into Hong Kong SAR contracted modestly to X tons, stabilizing at the previous year's figure. Overall, imports saw a abrupt curtailment. The growth pace was the most rapid in 2016 when imports increased by 442% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, waste cork imports skyrocketed to $X in 2021. Over the period under review, imports showed a abrupt downturn. The pace of growth appeared the most rapid in 2016 when imports increased by 398% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Portugal (X tons) and the United States (X tons) were the main suppliers of waste cork imports to Hong Kong SAR, with a combined 100% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +55.3%), while imports for the other leaders experienced a decline.

In value terms, Portugal ($X) constituted the largest supplier of waste cork, crushed, granulated or ground cork to Hong Kong SAR, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 28% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Portugal totaled +36.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.1% per year) and the United States (-6.6% per year).

Import Prices by Country

The average waste cork import price stood at $X per ton in 2021, growing by 18% against the previous year. Over the period under review, the import price recorded pronounced growth. The growth pace was the most rapid in 2019 when the average import price increased by 82% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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