
Hong Kong SAR, China - Tyre Cord Fabric of High Tenacity Yarn - Market Analysis, Forecast, Size, Trends and Insights
Hong Kong SAR, China: Tyre Cord Fabric Market 2023
Tyre Cord Fabric Market Size in Hong Kong SAR, China
The Hong Kong tyre cord fabric market rose markedly to $X in 2021, growing by 5.9% against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.4% against 2019 indices. Tyre cord fabric consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.
Tyre Cord Fabric Production in Hong Kong SAR, China
In value terms, tyre cord fabric production expanded remarkably to $X in 2021 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.4% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 25% against the previous year. Tyre cord fabric production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.
Tyre Cord Fabric Exports
Exports from Hong Kong SAR, China
In 2021, shipments abroad of tyre cord fabric of high tenacity yarn decreased by -45.6% to X tons, falling for the fifth consecutive year after two years of growth. In general, exports showed a sharp slump. The growth pace was the most rapid in 2016 with an increase of 73% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.
In value terms, tyre cord fabric exports reduced remarkably to $X in 2021. Overall, exports saw a dramatic decrease. The pace of growth was the most pronounced in 2015 with an increase of 37%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.
Exports by Country
China (X tons) was the main destination for tyre cord fabric exports from Hong Kong SAR, with a approx. 100% share of total exports.
From 2012 to 2021, the average annual growth rate of volume to China amounted to -26.2%.
In value terms, China ($X) emerged as the key foreign market for tyre cord fabric of high tenacity yarn exports from Hong Kong SAR.
From 2012 to 2021, the average annual growth rate of value to China amounted to -31.3%.
Export Prices by Country
In 2021, the average tyre cord fabric export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price saw a drastic downturn. The pace of growth appeared the most rapid in 2013 when the average export price increased by 39%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for China.
From 2012 to 2021, the rate of growth in terms of prices for China amounted to -6.9% per year.
Tyre Cord Fabric Imports
Imports into Hong Kong SAR, China
In 2021, approx. X tons of tyre cord fabric of high tenacity yarn were imported into Hong Kong SAR; dropping by -64.8% against the previous year's figure. In general, imports saw a significant decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 115%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.
In value terms, tyre cord fabric imports declined rapidly to $X in 2021. Overall, imports continue to indicate a sharp curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 123% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.
Imports by Country
In 2021, China (X tons) was the main supplier of tyre cord fabric to Hong Kong SAR, accounting for a approx. 100% share of total imports.
From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -24.9%.
In value terms, China ($X) constituted the largest supplier of tyre cord fabric of high tenacity yarn to Hong Kong SAR.
From 2012 to 2021, the average annual growth rate of value from China totaled -21.3%.
Import Prices by Country
In 2021, the average tyre cord fabric import price amounted to $X per ton, picking up by 68% against the previous year. In general, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tyre cord fabric import price increased by +94.6% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2012 to 2021, the rate of growth in terms of prices for China amounted to +4.9% per year.
Source: IndexBox Platform
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the tyre cord fabric 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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