Hong Kong SAR, China: Anti-Freezing Preparations Market 2024

Anti-Freezing Preparations Market Size in Hong Kong SAR, China

The Hong Kong anti-freezing preparations market expanded sharply to $X in 2021, increasing by 12% against the previous year. In general, consumption posted a remarkable increase. Anti-freezing preparations consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Anti-Freezing Preparations Production in Hong Kong SAR, China

In value terms, anti-freezing preparations production reached $X in 2021 estimated in export price. Over the period under review, production showed a prominent expansion. The growth pace was the most rapid in 2018 when the production volume increased by 83%. Anti-freezing preparations production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Anti-Freezing Preparations Exports

Exports from Hong Kong SAR, China

In 2021, after two years of growth, there was significant decline in overseas shipments of anti-freezing preparations and prepared de-icing fluids, when their volume decreased by -17.4% to X tons. Overall, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 43% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, anti-freezing preparations exports expanded rapidly to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 44% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for anti-freezing preparations exports from Hong Kong SAR, with a 91% share of total exports. Moreover, anti-freezing preparations exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+31.9% per year) and Macao SAR (+1.1% per year).

In value terms, China ($X) remains the key foreign market for anti-freezing preparations and prepared de-icing fluids exports from Hong Kong SAR, comprising 92% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 4.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China amounted to +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+2.3% per year) and Malaysia (+28.4% per year).

Export Prices by Country

In 2021, the average anti-freezing preparations export price amounted to $X per ton, increasing by 30% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +10.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, anti-freezing preparations export price increased by +51.3% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 68%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+12.1%), while the prices for the other major destinations experienced mixed trend patterns.

Anti-Freezing Preparations Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of anti-freezing preparations and prepared de-icing fluids increased by 54% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, anti-freezing preparations imports skyrocketed to $X in 2021. In general, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 47% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of anti-freezing preparations imports to Hong Kong SAR, together accounting for 75% of total imports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +58.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest anti-freezing preparations suppliers to Hong Kong SAR were China ($X), Japan ($X) and Singapore ($X), with a combined 63% share of total imports. Germany, the United States, Taiwan (Chinese) and Belgium lagged somewhat behind, together accounting for a further 22%.

Taiwan (Chinese), with a CAGR of +39.0%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2021, the average anti-freezing preparations import price amounted to $X per ton, which is down by -6.4% against the previous year. In general, the import price showed a perceptible decrease. The most prominent rate of growth was recorded in 2020 an increase of 22% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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