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Jun 18, 2024

Sulphates Export in Hong Kong Hits Low of $2.9M in 2023

Hong Kong Sulphates Exports

Sulphates exports from Hong Kong contracted remarkably to 723 tons in 2023, waning by -50.3% on 2022. Overall, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2019 when exports increased by 287%. As a result, the exports attained the peak of 5.7K tons. From 2020 to 2023, the growth of the exports remained at a lower figure.

In value terms, sulphates exports reduced rapidly to $2.9M (IndexBox estimates) in 2023. Over the period under review, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2019 with an increase of 416%. As a result, the exports reached the peak of $28M. From 2020 to 2023, the growth of the exports remained at a lower figure.Hong Kong Sulphates Exports By Country (Million USD)

COUNTRYExport Value of Sulphates in Hong Kong (million USD)
20132014201520162017201820192020202120222023
China4.03.22.72.32.42.525.510.421.74.82.0
Chile0.2N/AN/AN/AN/A0.40.10.90.63.80.6
Taiwan (Chinese)0.2N/A0.20.40.70.81.01.11.60.40.2
Malaysia0.40.40.40.20.20.1N/A0.10.20.1N/A
Thailand0.50.30.20.30.50.40.1N/AN/AN/AN/A
South Korea0.10.40.80.30.30.60.50.3N/A0.3N/A
Others1.71.80.80.50.40.60.50.40.60.80.1
Total7.06.15.04.04.65.427.713.224.710.12.9

Exports by Country

China (474 tons) was the main destination for sulphates exports from Hong Kong, with a 66% share of total exports. Moreover, sulphates exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (121 tons), fourfold. The third position in this ranking was taken by Chile (91 tons), with a 13% share.

From 2013 to 2023, the average annual growth rate of volume to China amounted to -10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+4.2% per year) and Chile (-4.7% per year).

In value terms, China ($2M) remains the key foreign market for sulphates (excluding those of aluminium and barium) exports from Hong Kong, comprising 67% of total exports. The second position in the ranking was held by Chile ($648K), with a 22% share of total exports. It was followed by Taiwan (Chinese), with a 5.6% share.

From 2013 to 2023, the average annual rate of growth in terms of value to China totaled -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+15.2% per year) and Taiwan (Chinese) (-0.4% per year).

Export Prices by Country

In 2023, the sulphates price stood at $3,873 per ton (FOB, Hong Kong), falling by -52.6% against the previous year. Overall, the export price, however, posted a strong expansion. The pace of growth appeared the most rapid in 2019 an increase of 70% against the previous year. The export price peaked at $8,293 per ton in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($7,101 per ton), while the average price for exports to Taiwan (Chinese) ($1,347 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+29.9%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, By Product
    11. Average Per Capita Consumption, By Product
    12. Exports and Growth, By Product
    13. Export Prices and Growth, By Product
    14. Production Volume and Growth
    15. Exports and Growth
    16. Export Prices and Growth
    17. Market Size and Growth
    18. Per Capita Consumption
    19. Imports and Growth
    20. Import Prices
    21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country, 2012–2024
    29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country, 2012–2024

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