Hong Kong SAR, China: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in Hong Kong SAR, China

In 2022, the Hong Kong wood-based panels market decreased by X% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Wood-Based Panels Production in Hong Kong SAR, China

In value terms, wood-based panels production rose modestly to $X in 2022 estimated in export price. In general, production continues to indicate strong growth. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Wood-Based Panels Exports

Exports from Hong Kong SAR, China

Wood-based panels exports from Hong Kong SAR contracted markedly to X cubic meters in 2022, declining by X% on the year before. In general, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports attained the peak of X cubic meters. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wood-based panels exports expanded significantly to $X in 2022. Over the period under review, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X cubic meters) was the main destination for wood-based panels exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, wood-based panels exports to China exceeded the volume sent to the second major destination, Macao SAR (X cubic meters), fourfold. The United States (X cubic meters) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and the United States (X% per year).

In value terms, China ($X) remains the key foreign market for wood-based panels exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Macao SAR ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average wood-based panels export price amounted to $X per cubic meter, jumping by X% against the previous year. In general, the export price posted resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to the United States ($X per cubic meter) 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.

Wood-Based Panels Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of wood-based panels decreased by X% to X cubic meters, falling for the fourth consecutive year after two years of growth. In general, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at X cubic meters in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, wood-based panels imports reduced to $X in 2022. Over the period under review, imports recorded a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X cubic meters) constituted the largest supplier of wood-based panels to Hong Kong SAR, accounting for a X% share of total imports. Moreover, wood-based panels imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X cubic meters), eightfold.

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

In value terms, China ($X) constituted the largest supplier of wood-based panels to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average wood-based panels import price amounted to $X per cubic meter, increasing by X% against the previous year. Overall, import price indicated tangible 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, wood-based panels import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per cubic meter), while the price for China ($X per cubic meter) was amongst the lowest.

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

Source: IndexBox Platform

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