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Hong Kong SAR, China - Electric Smoothing Irons - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong Kongs' Smoothing Iron Imports Hit $6.4M Low in 2023
Hong Kong Smoothing Iron Imports
For the sixth year in a row, Hong Kong recorded decline in overseas purchases of electric smoothing irons, which decreased by -35.5% to 312K units in 2023. Overall, imports showed a dramatic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 9.6% against the previous year. Imports peaked at 2.9M units in 2013; however, from 2014 to 2023, imports remained at a lower figure.
In value terms, smoothing iron imports fell sharply to $6.4M (IndexBox estimates) in 2023. Over the period under review, imports faced a abrupt downturn. The growth pace was the most rapid in 2017 when imports increased by 24%. Imports peaked at $36M in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.
COUNTRY | Import Value of Smoothing Iron in Hong Kong (million USD) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
China | 27.4 | 31.7 | 27.6 | 20.7 | 26.1 | 19.5 | 19.5 | 14.5 | 12.0 | 8.1 | 4.6 |
France | 0.4 | 0.6 | 0.6 | 0.5 | 0.5 | 0.2 | 0.8 | 0.4 | 0.6 | 0.5 | 0.6 |
Singapore | 0.7 | 1.7 | 0.8 | 0.1 | 0.1 | N/A | N/A | 0.1 | 0.1 | N/A | 0.5 |
Indonesia | 1.1 | 0.3 | 0.8 | 1.0 | 1.3 | 0.9 | 0.4 | 1.1 | 1.2 | 0.8 | 0.5 |
Others | 1.1 | 1.4 | 1.0 | 0.8 | 0.7 | 0.8 | 0.7 | 0.6 | 0.7 | 0.4 | 0.2 |
Total | 30.6 | 35.6 | 30.9 | 23.2 | 28.6 | 21.5 | 21.5 | 16.7 | 14.6 | 9.8 | 6.4 |
Imports by Country
In 2023, China (267K units) constituted the largest supplier of smoothing iron to Hong Kong, with a 86% share of total imports. Moreover, smoothing iron imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (16K units), more than tenfold. France (15K units) ranked third in terms of total imports with a 4.8% share.
From 2013 to 2023, the average annual rate of growth in terms of volume from China stood at -20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-9.7% per year) and France (+2.4% per year).
In value terms, China ($4.6M) constituted the largest supplier of electric smoothing irons to Hong Kong, comprising 73% of total imports. The second position in the ranking was taken by France ($553K), with an 8.7% share of total imports. It was followed by Indonesia, with a 7.8% share.
From 2013 to 2023, the average annual rate of growth in terms of value from China amounted to -16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.4% per year) and Indonesia (-8.0% per year).
Import Prices by Country
In 2023, the smoothing iron price stood at $20 per unit (CIF, Hong Kong), approximately reflecting the previous year. Over the period under review, import price indicated a resilient expansion from 2013 to 2023: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, smoothing iron import price decreased by -7.2% against 2021 indices. The most prominent rate of growth was recorded in 2014 an increase of 32% against the previous year. The import price peaked at $22 per unit in 2021; however, from 2022 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($44 per unit), while the price for China ($17 per unit) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the smoothing iron 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 27512370 - Electric smoothing irons
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