Hong Kong SAR, China: Winding Wire Market 2025

Winding Wire Market Size in Hong Kong SAR, China

The Hong Kong winding wire market rose notably to $X in 2022, with an increase of 15% against the previous year. In general, consumption showed a slight increase. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Winding Wire Production in Hong Kong SAR, China

In value terms, winding wire production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a modest expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 9.2%. Winding wire production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Winding Wire Exports

Exports from Hong Kong SAR, China

In 2022, the amount of winding wire for electrical purposes exported from Hong Kong SAR shrank rapidly to X tons, with a decrease of -46.2% on the year before. Over the period under review, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 17%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, winding wire exports shrank dramatically to $X in 2022. Overall, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 20% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for winding wire exports from Hong Kong SAR, with a 62% share of total exports. Moreover, winding wire exports to China exceeded the volume sent to the second major destination, the Philippines (X tons), ninefold. Vietnam (X tons) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+15.5% per year) and Vietnam (-1.3% per year).

In value terms, China ($X) remains the key foreign market for winding wire for electrical purposes exports from Hong Kong SAR, comprising 60% of total exports. The second position in the ranking was held by Vietnam ($X), with a 7.2% share of total exports. It was followed by Thailand, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+4.4% per year) and Thailand (+4.5% per year).

Export Prices by Country

The average winding wire export price stood at $X per ton in 2022, picking up by 35% against the previous year. In general, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, winding wire export price increased by +86.3% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Winding Wire Imports

Imports into Hong Kong SAR, China

In 2022, imports of winding wire for electrical purposes into Hong Kong SAR declined remarkably to X tons, dropping by -35.6% compared with 2021. Overall, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by 11% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, winding wire imports dropped notably to $X in 2022. In general, imports recorded a abrupt decline. The growth pace was the most rapid in 2021 when imports increased by 27%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of winding wire to Hong Kong SAR, accounting for a 63% share of total imports. Moreover, winding wire imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sixfold. Japan (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-5.5% per year) and Japan (-17.1% per year).

In value terms, China ($X) constituted the largest supplier of winding wire for electrical purposes to Hong Kong SAR, comprising 45% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by Japan, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.6% per year) and Japan (-14.1% per year).

Import Prices by Country

The average winding wire import price stood at $X per ton in 2022, rising by 13% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, winding wire import price increased by +77.8% against 2016 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 23%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :