Hong Kong SAR, China: Textile Wadding Market 2024

Textile Wadding Market Size in Hong Kong SAR, China

In 2022, the Hong Kong textile wadding market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then declined rapidly in the following year.

Textile Wadding Production in Hong Kong SAR, China

In value terms, textile wadding production rose to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible contraction. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. Textile wadding production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Textile Wadding Exports

Exports from Hong Kong SAR, China

In 2022, textile wadding exports from Hong Kong SAR dropped significantly to X tons, waning by X% on the previous year's figure. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, textile wadding exports contracted rapidly to $X in 2022. Overall, exports recorded a noticeable decrease. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then dropped significantly in the following year.

Exports by Country

China (X tons) was the main destination for textile wadding exports from Hong Kong SAR, with a X% share of total exports. Moreover, textile wadding exports to China exceeded the volume sent to the second major destination, Thailand (X tons), eightfold. The third position in this ranking was taken by Vietnam (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

In value terms, China ($X) remains the key foreign market for wadding of textile materials and articles thereof exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Indonesia (X% per year).

Export Prices by Country

The average textile wadding export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then reduced in the following year.

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

Textile Wadding Imports

Imports into Hong Kong SAR, China

In 2022, the amount of wadding of textile materials and articles thereof imported into Hong Kong SAR fell dramatically to X tons, reducing by X% against 2021. Overall, imports recorded a abrupt slump. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, textile wadding imports shrank rapidly to $X in 2022. Over the period under review, imports showed a perceptible curtailment. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then contracted notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of textile wadding to Hong Kong SAR, with a X% share of total imports. Moreover, textile wadding imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Thailand (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Thailand (X% per year).

In value terms, the largest textile wadding suppliers to Hong Kong SAR were China ($X), the United States ($X) and Vietnam ($X), with a combined X% share of total imports.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 textile wadding import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, textile wadding import price increased by X% against 2018 indices. The growth pace was the most rapid in 2020 an increase of X%. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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