Hong Kong SAR, China: Glass Fibre Fabrics Market 2024

Glass Fibre Fabrics Market Size in Hong Kong SAR, China

In 2022, the Hong Kong glass fibre fabrics market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate a prominent increase. Glass fibre fabrics consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Glass Fibre Fabrics Production in Hong Kong SAR, China

In value terms, glass fibre fabrics production declined slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 196% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Glass Fibre Fabrics Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of glass fibre fabrics decreased by -6.5% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, posted a measured increase. The growth pace was the most rapid in 2018 with an increase of 78%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, glass fibre fabrics exports declined to $X in 2022. Over the period under review, total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.2% against 2017 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 50%. Over the period under review, the exports attained the maximum at $X in 2021, and then fell in the following year.

Exports by Country

Thailand (X tons) was the main destination for glass fibre fabrics exports from Hong Kong SAR, accounting for a 66% share of total exports. Moreover, glass fibre fabrics exports to Thailand exceeded the volume sent to the second major destination, China (X tons), fourfold. South Korea (X tons) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand stood at +42.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-11.7% per year) and South Korea (+9.2% per year).

In value terms, China ($X) remains the key foreign market for glass fibre fabrics exports from Hong Kong SAR, comprising 56% of total exports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total exports. It was followed by Taiwan (Chinese), with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+26.5% per year) and Taiwan (Chinese) (+13.7% per year).

Export Prices by Country

In 2022, the average glass fibre fabrics export price amounted to $X per ton, waning by -1.9% against the previous year. In general, the export price, however, saw a mild expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 26% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Thailand ($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 China (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fibre Fabrics Imports

Imports into Hong Kong SAR, China

In 2022, after two years of growth, there was decline in purchases abroad of glass fibre fabrics, when their volume decreased by -3.7% to X tons. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 103%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, glass fibre fabrics imports declined modestly to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 151% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of glass fibre fabrics imports to Hong Kong SAR, together comprising 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +11.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest glass fibre fabrics suppliers to Hong Kong SAR were Taiwan (Chinese) ($X), China ($X) and Japan ($X), together comprising 88% of total imports.

In terms of the main suppliers, Japan, with a CAGR of +14.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glass fibre fabrics import price amounted to $X per ton, almost unchanged from the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibre fabrics import price decreased by -5.9% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 23% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by China (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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