Hong Kong SAR, China: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Hong Kong SAR, China

The Hong Kong glass fibre mat market was finally on the rise to reach $X in 2022, after five years of decline. Overall, consumption, however, saw a slight shrinkage. Glass fibre mat consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Glass Fibre Mat Production in Hong Kong SAR, China

In value terms, glass fibre mat production expanded rapidly to $X in 2022 estimated in export price. Overall, the total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +21.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 34% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

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Glass Fibre Mat Exports

Exports from Hong Kong SAR, China

In 2022, the amount of glass fibre mats exported from Hong Kong SAR declined to X tons, with a decrease of -13.7% against the previous year. In general, exports faced a abrupt decline. The pace of growth was the most pronounced in 2015 with an increase of 79%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, glass fibre mat exports reduced to $X in 2022. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 83%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for glass fibre mat exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -10.6%.

In value terms, China ($X) also remains the key foreign market for glass fibre mats exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -10.4%.

Export Prices by Country

In 2022, the average glass fibre mat export price amounted to $X per ton, remaining stable against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 8.1% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; afterwards, it flattened through to 2022.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.2% per year.

Glass Fibre Mat Imports

Imports into Hong Kong SAR, China

In 2022, imports of glass fibre mats into Hong Kong SAR reduced to X tons, shrinking by -13.9% against the previous year. Over the period under review, imports showed a sharp shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 63% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, glass fibre mat imports contracted sharply to $X in 2022. In general, imports saw a precipitous curtailment. The growth pace was the most rapid in 2015 with an increase of 75% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest glass fibre mat supplier to Hong Kong SAR, with a 65% share of total imports. Moreover, glass fibre mat imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at -17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.5% per year) and Taiwan (Chinese) (-21.9% per year).

In value terms, Malaysia ($X) constituted the largest supplier of glass fibre mats to Hong Kong SAR, comprising 69% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia stood at -15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-20.1% per year) and Taiwan (Chinese) (-18.4% per year).

Import Prices by Country

The average glass fibre mat import price stood at $X per ton in 2022, waning by -5.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 20%. The import price peaked at $X per ton in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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