Hong Kong SAR, China: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Hong Kong SAR, China

The Hong Kong polyethylene glycol wax market skyrocketed to $X in 2021, jumping by 30% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +19.3% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Polyethylene Glycol Wax Production in Hong Kong SAR, China

In value terms, polyethylene glycol wax production dropped slightly to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 14% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of artificial and prepared waxes of polyethylene glycol increased by 58% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 97% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for polyethylene glycol wax exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -2.0%.

In value terms, China ($X) also remains the key foreign market for artificial and prepared waxes of polyethylene glycol exports from Hong Kong SAR.

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

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, increasing by 32% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +1.7% per year.

Polyethylene Glycol Wax Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of artificial and prepared waxes of polyethylene glycol increased by 18% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 230%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, polyethylene glycol wax imports stood at $X in 2021. Overall, imports saw a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 438%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest supplier of polyethylene glycol wax to Hong Kong SAR, with a 90% share of total imports. Moreover, polyethylene glycol wax imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Germany (X tons), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+35.9% per year) and China (-14.1% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to Hong Kong SAR, comprising 69% of total imports. The second position in the ranking was held by Germany ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) totaled +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+34.2% per year) and China (-12.1% per year).

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, reducing by -15.1% against the previous year. Overall, the import price faced a abrupt contraction. The growth pace was the most rapid in 2016 an increase of 63%. The import price peaked at $X per ton in 2012; however, from 2013 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, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+8.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :