Hong Kong SAR, China: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Hong Kong SAR, China

In 2021, the Hong Kong market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased by 14% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, recorded a slight decrease. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Hong Kong SAR, China

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) shrank to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 37% against the previous year. Production of peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports from Hong Kong SAR, China

In 2021, the amount of acrylic polymers, in primary forms (excluding polymethyl methacrylate) exported from Hong Kong SAR reduced slightly to X tons, with a decrease of -3.7% on the year before. Overall, exports, however, recorded slight growth. The most prominent rate of growth was recorded in 2015 with an increase of 21%. Over the period under review, the exports of attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) shrank to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 9.6%. Over the period under review, the exports of attained the maximum at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Hong Kong SAR, with a 96% share of total exports. It was followed by Vietnam (X tons), with a 1.6% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China was relatively modest.

In value terms, China ($X) remains the key foreign market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exports from Hong Kong SAR, comprising 94% of total exports. The second position in the ranking was held by Vietnam ($X), with a 1.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China was relatively modest.

Export Prices by Country

In 2021, the average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) amounted to $X per ton, stabilizing at the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 5.8%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+1.1%).

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports into Hong Kong SAR, China

In 2021, purchases abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased by 26% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports of reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) soared to $X in 2021. In general, imports, however, saw a mild curtailment. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) were the main suppliers of imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Hong Kong SAR, together comprising 64% of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +29.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) suppliers to Hong Kong SAR were Japan ($X), Taiwan (Chinese) ($X) and South Korea ($X), together comprising 61% of total imports.

Among the main suppliers, South Korea, with a CAGR of +27.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, with an increase of 6.3% against the previous year. In general, the import price, however, showed a mild setback. The pace of growth was the most pronounced in 2016 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were China ($X per ton) and South Korea ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform