Hong Kong SAR, China: Carbides Market 2024

Carbides Market Size in Hong Kong SAR, China

The Hong Kong carbides market contracted modestly to $X in 2022, with a decrease of -4.8% against the previous year. In general, consumption recorded a pronounced descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Carbides Production in Hong Kong SAR, China

In value terms, carbides production fell to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when the production volume increased by 13%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Carbides Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of carbides increased by 45% to X tons, rising for the second consecutive year after five years of decline. In general, exports, however, recorded a mild downturn. The growth pace was the most rapid in 2015 when exports increased by 138% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, carbides exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 191% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), India (X tons) and Canada (X tons) were the main destinations of carbides exports from Hong Kong SAR, together accounting for 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +1,010.6%), while the other leaders experienced mixed trend patterns.

In value terms, India ($X), Canada ($X) and China ($X) appeared to be the largest markets for carbides exported from Hong Kong SAR worldwide, together accounting for 98% of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +1,088.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average carbides export price stood at $X per ton in 2022, increasing by 27% against the previous year. Over the period under review, the export price recorded a modest increase. The most prominent rate of growth was recorded in 2018 an increase of 56% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to China ($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 Canada (+7.0%), while the prices for the other major destinations experienced mixed trend patterns.

Carbides Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of carbides increased by 85% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 521% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, carbides imports soared to $X in 2022. Overall, imports, however, showed a pronounced decline. The growth pace was the most rapid in 2018 with an increase of 292%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of carbides to Hong Kong SAR, with a 98% share of total imports. It was followed by Japan (X tons), with a 0.5% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-30.9% per year) and the United States (-30.3% per year).

In value terms, China ($X) constituted the largest supplier of carbides to Hong Kong SAR, comprising 93% of total imports. The second position in the ranking was taken by the United States ($X), with a 3.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-27.6% per year) and Japan (-32.2% per year).

Import Prices by Country

The average carbides import price stood at $X per ton in 2022, with a decrease of -23% against the previous year. Overall, the import price saw a deep slump. The pace of growth was the most pronounced in 2017 when the average import price increased by 199%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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