Hong Kong SAR, China: Man-Made Filament Fabric Market 2024

Man-Made Filament Fabric Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong man-made filament fabric market decreased by -2.2% to $X in 2021. Overall, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.3% against 2018 indices. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Man-Made Filament Fabric Production in Hong Kong SAR, China

In value terms, man-made filament fabric production fell to $X in 2021 estimated in export price. In general, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +35.1% against 2018 indices. The pace of growth was the most pronounced in 2015 with an increase of 63%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Man-Made Filament Fabric Exports

Exports from Hong Kong SAR, China

For the ninth consecutive year, Hong Kong SAR recorded decline in overseas shipments of woven fabrics of man-made filaments and staple fibers, which decreased by -0.8% to X tons in 2021. Overall, exports faced a abrupt slump. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, man-made filament fabric exports amounted to $X in 2021. In general, exports showed a abrupt contraction. Over the period under review, the exports reached the peak figure 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 man-made filament fabric exports from Hong Kong SAR, accounting for a 78% share of total exports. Moreover, man-made filament fabric exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. Bangladesh (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled -4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-6.0% per year) and Bangladesh (+0.1% per year).

In value terms, China ($X) remains the key foreign market for woven fabrics of man-made filaments and staple fibers exports from Hong Kong SAR, comprising 79% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 5.6% share of total exports. It was followed by Bangladesh, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value to China totaled -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-3.8% per year) and Bangladesh (-0.7% per year).

Export Prices by Country

The average man-made filament fabric export price stood at $X per ton in 2021, growing by 3.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2013 an increase of 17% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Man-Made Filament Fabric Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of woven fabrics of man-made filaments and staple fibers was finally on the rise to reach X tons for the first time since 2012, thus ending a eight-year declining trend. Overall, imports, however, continue to indicate a deep reduction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, man-made filament fabric imports rose rapidly to $X in 2021. In general, imports, however, continue to indicate a deep slump. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) were the main suppliers of man-made filament fabric imports to Hong Kong SAR, together comprising 80% of total imports. Japan, Vietnam, Italy and Thailand lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +2.0%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) constituted the largest man-made filament fabric suppliers to Hong Kong SAR, together accounting for 64% of total imports. Japan, Italy, Vietnam and Thailand lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, Vietnam, with a CAGR of +6.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average man-made filament fabric import price stood at $X per ton in 2021, surging by 5.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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