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Hong Kong SAR, China - Yarn Of Wool - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong Kong Sees 3% Decrease in Woolen Yarn Price, Averaging $44.6 per kg
Hong Kong Woolen Yarn Import Price in May 2023
In May 2023, the woolen yarn price amounted to $44,602 per ton (CIF, Hong Kong), shrinking by -2.8% against the previous month. Overall, the import price saw a noticeable decline. The most prominent rate of growth was recorded in January 2023 an increase of 39% m-o-m. The import price peaked at $58,953 per ton in May 2022; however, from June 2022 to May 2023, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In May 2023, the highest price was recorded for prices from Italy ($53,219 per ton) and Japan ($48,543 per ton), while the price for South Korea ($36,103 per ton) and China ($38,134 per ton) were amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Italy (+0.8%), while the prices for the other major suppliers experienced a decline.
COUNTRY | Import Price of Woolen Yarn in Hong Kong (USD per ton) | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | |
Italy | 48,491 | 41,364 | 49,725 | 50,344 | 64,581 | 55,978 | 56,932 | 71,435 | 59,599 | 55,748 | 49,867 | 42,035 | 53,219 |
Japan | 50,445 | 47,149 | 50,083 | 41,633 | 60,194 | 45,882 | 59,459 | 35,436 | 53,588 | 38,492 | 59,202 | 49,230 | 48,543 |
China | 78,506 | 43,895 | 34,914 | 72,495 | 31,872 | 50,706 | 20,255 | 25,682 | 52,544 | 61,105 | 39,206 | 50,357 | 38,134 |
South Korea | 39,508 | 36,605 | 35,605 | 28,513 | 33,250 | 46,931 | 37,479 | 29,849 | 55,220 | 34,364 | 26,358 | 44,035 | 36,103 |
Average | 58,953 | 42,083 | 41,833 | 58,086 | 44,113 | 51,856 | 39,132 | 40,613 | 56,506 | 56,201 | 43,434 | 45,866 | 44,602 |
Hong Kong Woolen Yarn Import Prices by Type
There were significant differences in the average prices amongst the major supplied products. In May 2023, the product with the highest price was yarn of fine animal hair (carded or combed), not put up for retail sale ($107K per ton), while the price for yarn of combed wool, not put up for retail sale ($32,710 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by yarn of coarse animal hair or of horsehair (including gimped horsehair yarn), whether or not put up for retail sale (0.0%), while the prices for the other products experienced a decline.
Hong Kong Woolen Yarn Imports
In May 2023, supplies from abroad of yarn of wool decreased by -29.5% to 295 tons, falling for the second month in a row after two months of growth. In general, imports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in February 2023 with an increase of 98% month-to-month.
In value terms, woolen yarn imports dropped rapidly to $13M (IndexBox estimates) in May 2023. Over the period under review, imports recorded a pronounced setback. The growth pace was the most rapid in February 2023 with an increase of 97% against the previous month.
Hong Kong Woolen Yarn Imports by Type
Yarn of combed wool, not put up for retail sale (132 tons), yarn of carded wool, not put up for retail sale (120 tons) and yarn of fine animal hair (carded or combed), not put up for retail sale (42 tons) were the main products of woolen yarn imports to Hong Kong, together accounting for 100% of total imports.
From May 2022 to May 2023, the biggest increases were in yarn of carded wool, not put up for retail sale (with a CAGR of -0.2%), while purchases for the other products experienced a decline.
In value terms, yarn of fine animal hair (carded or combed), not put up for retail sale ($4.5M), yarn of combed wool, not put up for retail sale ($4.3M) and yarn of carded wool, not put up for retail sale ($4.3M) constituted the most imported types of yarn of wool in Hong Kong, with a combined 100% share of total imports.
Hong Kong Woolen Yarn Imports by Country
China (153 tons), Italy (118 tons) and South Korea (11 tons) were the main suppliers of woolen yarn imports to Hong Kong, with a combined 95% share of total imports.
From May 2022 to May 2023, the biggest increases were in South Korea (with a CAGR of +3.4%), while purchases for the other leaders experienced mixed trend patterns.
In value terms, Italy ($6.3M), China ($5.8M) and South Korea ($387K) were the largest woolen yarn suppliers to Hong Kong, together accounting for 95% of total imports.
South Korea, with a CAGR of +2.6%, 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 mixed trend patterns.
This report provides an in-depth analysis of the woolen yarn 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 13105010 - Yarn of carded wool or fine animal hair, n.p.r.s.
- Prodcom 13105030 - Yarn of combed wool or fine animal hair, n.p.r.s.
- Prodcom 13105050 - Yarn of wool or fine animal hair, p.r.s.
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