Hong Kong SAR, China: Amino Resin Market 2024

Amino Resin Market Size in Hong Kong SAR, China

The Hong Kong amino resin market dropped slightly to $X in 2022, reducing by -3.2% against the previous year. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +3.7% against 2020 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Amino Resin Production in Hong Kong SAR, China

In value terms, amino resin production fell modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 85%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Amino Resin Exports

Exports from Hong Kong SAR, China

Amino resin exports from Hong Kong SAR fell remarkably to X tons in 2022, with a decrease of -55.4% against the year before. Over the period under review, exports faced a significant contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 64% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, amino resin exports fell dramatically to $X in 2022. Overall, exports saw a dramatic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 115%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) and Macao SAR (X tons) were the main destinations of amino resin exports from Hong Kong SAR.

From 2012 to 2022, the biggest increases were recorded for Macao SAR (with a CAGR of +21.2%).

In value terms, China ($X) and Macao SAR ($X) appeared to be the largest markets for amino resin exported from Hong Kong SAR worldwide.

Macao SAR, with a CAGR of +34.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average amino resin export price amounted to $X per ton, picking up by 28% against the previous year. Overall, the export price continues to indicate strong growth. The pace of growth appeared the most rapid in 2013 an increase of 66% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.5%).

Amino Resin Imports

Imports into Hong Kong SAR, China

Amino resin imports into Hong Kong SAR fell dramatically to X tons in 2022, dropping by -55.8% on the year before. Overall, imports saw a sharp descent. The pace of growth appeared the most rapid in 2018 when imports increased by 132% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, amino resin imports shrank rapidly to $X in 2022. Over the period under review, imports recorded a sharp decline. The growth pace was the most rapid in 2018 when imports increased by 137% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), China (X tons) and Spain (X tons) were the main suppliers of amino resin imports to Hong Kong SAR, together accounting for 92% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +282.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of amino resins to Hong Kong SAR, comprising 62% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Spain, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +121.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-30.7% per year) and Spain (+314.1% per year).

Import Prices by Country

The average amino resin import price stood at $X per ton in 2022, surging by 33% against the previous year. In general, the import price posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 64% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Malaysia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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