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Hong Kong SAR, China - Cement - Market Analysis, Forecast, Size, Trends And Insights
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View PricingHong Kongs Cement Imports Hit $199 Million in 2023
Hong Kong Cement Imports
In 2023, overseas purchases of cement were finally on the rise to reach 3.1M tons for the first time since 2020, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 132%. Imports peaked at 5.4M tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.
In value terms, cement imports contracted modestly to $199M (IndexBox estimates) in 2023. Overall, imports saw a strong expansion. The growth pace was the most rapid in 2017 when imports increased by 105% against the previous year. Imports peaked at $291M in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.
COUNTRY | Import Value of Cement in Hong Kong (million USD) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
China | 37.1 | 44.4 | 56.3 | 53.2 | 136 | 199 | 79.3 | 89.3 | 66.2 | 62.6 | 107 |
Japan | 42.7 | 55.9 | 56.0 | 49.6 | 82.9 | 59.6 | 41.5 | 57.0 | 67.6 | 70.2 | 51.6 |
Vietnam | N/A | N/A | N/A | N/A | N/A | 5.7 | 23.9 | 39.6 | 42.4 | 36.5 | 34.8 |
Taiwan (Chinese) | 10.4 | 21.9 | 21.9 | 12.1 | 7.0 | 15.4 | 10.1 | 18.0 | 18.5 | 27.6 | 3.8 |
Macao | 4.4 | 0.9 | N/A | 0.7 | 14.5 | 9.9 | 1.6 | 8.9 | 7.9 | 0.6 | 0.5 |
Others | 2.9 | 2.6 | 2.4 | 2.9 | 3.1 | 1.5 | 1.8 | 1.9 | 1.6 | 1.1 | 1.1 |
Total | 97.6 | 126 | 137 | 119 | 243 | 291 | 158 | 215 | 204 | 199 | 199 |
Imports by Country
In 2023, China (1.6M tons) constituted the largest supplier of cement to Hong Kong, accounting for a 52% share of total imports. Moreover, cement imports from China exceeded the figures recorded by the second-largest supplier, Japan (776K tons), twofold. The third position in this ranking was taken by Vietnam (645K tons), with a 21% share.
From 2013 to 2023, the average annual growth rate of volume from China stood at +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.6% per year) and Vietnam (+37.4% per year).
In value terms, China ($107M) constituted the largest supplier of cement to Hong Kong, comprising 54% of total imports. The second position in the ranking was held by Japan ($52M), with a 26% share of total imports. It was followed by Vietnam, with an 18% share.
From 2013 to 2023, the average annual growth rate of value from China totaled +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.9% per year) and Vietnam (+43.8% per year).
Imports by Type
In 2023, portland cement, other than white, whether or not artificially coloured (3.1M tons) was the main type of cement supplied to Hong Kong, accounting for a 100% share of total imports. It was followed by portland cement, white, whether or not artificially coloured (7.3K tons), with a 0.2% share of total imports. Cement of hydraulic kinds (595 tons) ranked third in terms of total imports with less than 0.1% share.
From 2013 to 2023, the average annual growth rate of the volume of portland cement, other than white, whether or not artificially coloured imports amounted to +7.4%. With regard to the other supplied products, the following average annual rates of growth were recorded: portland cement, white, whether or not artificially coloured (-8.8% per year) and cement of hydraulic kinds (+7.6% per year).
In value terms, portland cement, other than white, whether or not artificially coloured ($197M) constituted the largest type of cement supplied to Hong Kong, comprising 99% of total imports. The second position in the ranking was held by portland cement, white, whether or not artificially coloured ($1.1M), with a 0.6% share of total imports. It was followed by cement of hydraulic kinds, with a 0.1% share.
Import Prices by Country
In 2023, the cement price stood at $65 per ton (CIF, Hong Kong), declining by -1.8% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the average import price increased by 22%. As a result, import price attained the peak level of $66 per ton, and then contracted in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($76 per ton) and China ($68 per ton), while the price for Vietnam ($54 per ton) and Macao ($64 per ton) were amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the cement 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 23511210 - Portland cement
- Prodcom 23511290 - Other hydraulic cements
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023