Report Update: Oct 1, 2023
Hong Kong SAR, China - Synthetic Rubber - Market Analysis, Forecast, Size, Trends And Insights
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Article Publishing Date: Aug 9, 2023
Cost of Synthetic Rubber in Hong Kong Drops to $2,204 per Ton
Hong Kong Synthetic Rubber Import Price in May 2023
In May 2023, the synthetic rubber price stood at $2,204 per ton (CIF, Hong Kong), reducing by -11.1% against the previous month. Over the period under review, the import price saw a perceptible descent. The pace of growth was the most pronounced in August 2022 an increase of 23% against the previous month. As a result, import price attained the peak level of $3,466 per ton. From September 2022 to May 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($3,880 per ton), while the price for Malaysia ($977 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.
| COUNTRY | Import Price of Synthetic Rubber in Hong Kong (USD per ton) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | |
| Taiwan (Chinese) | 3,489 | 3,371 | 3,454 | 4,831 | 3,051 | 3,344 | 4,330 | 3,186 | 2,769 | 3,418 | 2,913 | 3,329 | 3,880 |
| Japan | 2,685 | 3,087 | 3,162 | 3,626 | 3,720 | 2,984 | 3,041 | 3,139 | 2,840 | 2,841 | 2,980 | 2,832 | 2,611 |
| United States | 3,573 | 3,622 | 2,857 | 6,326 | 2,586 | 14,129 | 5,701 | 5,518 | 2,128 | 2,652 | 1,781 | 3,082 | 2,301 |
| China | 2,936 | 3,392 | 3,344 | 4,674 | 2,764 | 3,113 | 2,238 | 2,229 | 1,764 | 2,099 | 3,945 | 2,472 | 2,286 |
| South Korea | 2,524 | 2,509 | 2,451 | 2,221 | 2,030 | 1,894 | 1,924 | 1,843 | 1,783 | 1,770 | 2,039 | 2,123 | 2,164 |
| Germany | 1,874 | 1,874 | 1,897 | 1,286 | 1,420 | 1,867 | 2,146 | 2,158 | 3,458 | 2,026 | 2,116 | 2,152 | 2,121 |
| Belgium | 3,364 | 3,869 | 4,223 | 3,491 | 2,918 | 3,452 | 3,965 | 4,189 | 1,283 | 2,456 | 1,997 | 1,642 | 1,260 |
| Malaysia | 739 | 917 | 740 | 2,873 | 1,386 | 1,200 | 986 | 1,369 | 437 | 1,220 | 976 | 1,200 | 977 |
| Average | 2,902 | 3,017 | 2,811 | 3,466 | 2,461 | 2,640 | 2,533 | 2,384 | 2,055 | 2,161 | 2,332 | 2,479 | 2,204 |
Hong Kong Synthetic Rubber Imports
In May 2023, approximately 2.1K tons of synthetic rubber were imported into Hong Kong; waning by -22.3% against April 2023 figures. Overall, imports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in November 2022 with an increase of 59% against the previous month.
In value terms, synthetic rubber imports declined sharply to $4.6M (IndexBox estimates) in May 2023. Over the period under review, imports saw a deep slump. The pace of growth was the most pronounced in November 2022 with an increase of 53% against the previous month.
Hong Kong Synthetic Rubber Imports by Country
China (482 tons), the United States (402 tons) and Japan (378 tons) were the main suppliers of synthetic rubber imports to Hong Kong, with a combined 61% share of total imports. These countries were followed by South Korea, Malaysia, Belgium, Taiwan (Chinese) and Germany, which together accounted for a further 36%.
From May 2022 to May 2023, the biggest increases were in Malaysia (with a CAGR of +2.0%), while purchases for the other leaders experienced a decline.
In value terms, China ($1.1M), Japan ($987K) and the United States ($926K) constituted the largest synthetic rubber suppliers to Hong Kong, with a combined 66% share of total imports. These countries were followed by South Korea, Taiwan (Chinese), Malaysia, Belgium and Germany, which together accounted for a further 32%.
Malaysia, with a CAGR of +4.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
This report provides an in-depth analysis of the synthetic rubber market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
• Prodcom 20171050 - Synthetic latex rubber
• Prodcom 20171090 - Synthetic rubber (excluding latex)
Country coverage:
• Hong Kong SAR
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Hong Kong SAR, China
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles
Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
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