China: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in China

The Chinese composite laboratory reagents market soared to $X in 2022, jumping by 26% against the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +53.1% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Composite Laboratory Reagents Production in China

In value terms, composite laboratory reagents production expanded sharply to $X in 2022 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.9% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 66%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Composite Laboratory Reagents Exports

Exports from China

For the seventh consecutive year, China recorded growth in overseas shipments of composite diagnostic or laboratory reagents, which increased by 13% to X tons in 2022. In general, exports showed strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by 41% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, composite laboratory reagents exports stood at $X in 2022. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 508% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), the United States (X tons) and the UK (X tons) were the main destinations of composite laboratory reagents exports from China, with a combined 39% share of total exports. Australia, Thailand, Canada, the Netherlands, Malaysia, Austria, France, Japan, Russia and Spain lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +81.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Australia ($X) were the largest markets for composite laboratory reagents exported from China worldwide, together accounting for 39% of total exports. Canada, the UK, Japan, Thailand, France, the Netherlands, Austria, Malaysia, Spain and Russia lagged somewhat behind, together accounting for a further 33%.

Austria, with a CAGR of +71.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average composite laboratory reagents export price stood at $X per ton in 2022, declining by -4.4% against the previous year. In general, the export price, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2020 an increase of 430% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+27.1%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into China

For the sixth consecutive year, China recorded growth in purchases abroad of composite diagnostic or laboratory reagents, which increased by 144% to X tons in 2022. Overall, imports recorded a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, composite laboratory reagents imports skyrocketed to $X in 2022. In general, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of composite laboratory reagents imports to China, with a combined 53% share of total imports. Ireland, Hong Kong SAR, Belgium, Denmark, the UK and France lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +56.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of composite diagnostic or laboratory reagents to China, comprising 30% of total imports. The second position in the ranking was held by Germany ($X), with a 9.8% share of total imports. It was followed by Japan, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.1% per year) and Japan (+17.2% per year).

Import Prices by Country

The average composite laboratory reagents import price stood at $X per ton in 2022, stabilizing at the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, composite laboratory reagents import price decreased by -22.8% against 2019 indices. The growth pace was the most rapid in 2016 when the average import price increased by 42% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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