Hong Kong SAR, China: Carbonate Market 2024

Carbonate Market Size in Hong Kong SAR, China

The Hong Kong carbonate market reduced to $X in 2021, waning by -14.9% against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +35.2% against 2016 indices. As a result, consumption reached the peak level of $X, and then fell in the following year.

Carbonate Production in Hong Kong SAR, China

In value terms, carbonate production declined notably to $X in 2021 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +50.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 101%. As a result, production attained the peak level of $X, and then reduced notably in the following year.

Carbonate Exports

Exports from Hong Kong SAR, China

In 2021, the amount of carbonates and peroxocarbonates exported from Hong Kong SAR shrank remarkably to X tons, waning by -60.9% compared with the previous year's figure. Overall, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2020 when exports increased by 247% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, carbonate exports skyrocketed to $X in 2021. In general, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by 104% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for carbonate exports from Hong Kong SAR, accounting for a 44% share of total exports. Moreover, carbonate exports to China exceeded the volume sent to the second major destination, India (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+15.3% per year) and Thailand (+23.9% per year).

In value terms, China ($X) emerged as the key foreign market for carbonates and peroxocarbonates exports from Hong Kong SAR, comprising 69% of total exports. The second position in the ranking was taken by India ($X), with a 5.1% share of total exports. It was followed by Thailand, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+8.5% per year) and Thailand (+31.7% per year).

Export Prices by Country

In 2021, the average carbonate export price amounted to $X per ton, picking up by 208% against the previous year. Over the period under review, the export price saw a noticeable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to India ($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 Malaysia (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Carbonate Imports

Imports into Hong Kong SAR, China

In 2021, carbonate imports into Hong Kong SAR soared to X tons, rising by 18% on the year before. In general, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 58% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, carbonate imports skyrocketed to $X in 2021. Overall, imports posted a buoyant increase. The pace of growth was the most pronounced in 2015 when imports increased by 93% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest carbonate supplier to Hong Kong SAR, accounting for a 86% share of total imports. Moreover, carbonate imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+25.4% per year) and Taiwan (Chinese) (-7.7% per year).

In value terms, China ($X) constituted the largest supplier of carbonates and peroxocarbonates to Hong Kong SAR, comprising 76% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Japan, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+21.6% per year) and Japan (+0.6% per year).

Import Prices by Country

The average carbonate import price stood at $X per ton in 2021, increasing by 15% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, carbonate import price increased by +45.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 26% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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