Hong Kong SAR, China: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in Hong Kong SAR, China

The Hong Kong wood-based panels market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Wood-Based Panels Production in Hong Kong SAR, China

In value terms, wood-based panels production stood at $X in 2022 estimated in export price. Overall, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Wood-Based Panels Exports

Exports from Hong Kong SAR, China

Wood-based panels exports from Hong Kong SAR declined significantly to X cubic meters in 2022, which is down by X% compared with 2021 figures. In general, exports showed a deep reduction. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, wood-based panels exports fell slightly to $X in 2022. Overall, exports faced a abrupt contraction. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X cubic meters) was the main destination for wood-based panels exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, wood-based panels exports to China exceeded the volume sent to the second major destination, Macao SAR (X cubic meters), threefold. The third position in this ranking was held by Pakistan (X cubic meters), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and Pakistan (X% per year).

In value terms, China ($X) remains the key foreign market for wood-based panels exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Macao SAR ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average wood-based panels export price amounted to $X per cubic meter, with an increase of X% against the previous year. In general, the export price recorded strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to the Philippines ($X per cubic meter) was amongst the lowest.

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

Wood-Based Panels Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of wood-based panels decreased by X% to X cubic meters, falling for the fourth year in a row after two years of growth. In general, imports saw a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, wood-based panels imports shrank to $X in 2022. Over the period under review, imports continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X cubic meters) constituted the largest wood-based panels supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, wood-based panels imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X cubic meters), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Malaysia (X% per year).

In value terms, China ($X) constituted the largest supplier of wood-based panels to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average wood-based panels import price amounted to $X per cubic meter, picking up by X% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood-based panels import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per cubic meter), while the price for China ($X per cubic meter) was amongst the lowest.

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

Source: IndexBox Platform

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