Hong Kong SAR, China: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in Hong Kong SAR, China

The Hong Kong market for compounds with other nitrogen function (excluding isocyanates) contracted to $X in 2022, with a decrease of -10.1% against the previous year. Overall, consumption, however, showed a strong increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in Hong Kong SAR, China

In value terms, compounds with other nitrogen function production declined to $X in 2022 estimated in export price. Over the period under review, production, however, saw a notable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 1,157% against the previous year. Compounds with other nitrogen function production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports from Hong Kong SAR, China

In 2022, after four years of decline, there was significant growth in overseas shipments of compounds with other nitrogen function (excluding isocyanates), when their volume increased by 123% to X kg. Over the period under review, exports, however, continue to indicate a dramatic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 163% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, compounds with other nitrogen function exports expanded rapidly to $X in 2022. Overall, exports, however, recorded a significant decrease. The growth pace was the most rapid in 2017 when exports increased by 267% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X kg), Israel (X kg) and India (X kg) were the main destinations of compounds with other nitrogen function exports from Hong Kong SAR, together comprising 98% of total exports. Switzerland lagged somewhat behind, comprising a further 1.5%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +16.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for compounds with other nitrogen function exported from Hong Kong SAR were Israel ($X), China ($X) and India ($X), with a combined 95% share of total exports. These countries were followed by Switzerland, which accounted for a further 4.5%.

Among the main countries of destination, Switzerland, with a CAGR of +6.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, dropping by -48.8% against the previous year. Overall, the export price, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 an increase of 164%. As a result, the export price reached the peak level of $X per ton, and then reduced notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to China ($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 China (+6.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports into Hong Kong SAR, China

In 2022, overseas purchases of compounds with other nitrogen function (excluding isocyanates) decreased by -0.8% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 1,476% 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, compounds with other nitrogen function imports contracted to $X in 2022. In general, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 869% against the previous year. Imports peaked at $X in 2021, and then declined modestly in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of compounds with other nitrogen function to Hong Kong SAR, with a approx. 99% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +20.3%.

In value terms, China ($X) constituted the largest supplier of compounds with other nitrogen function (excluding isocyanates) to Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +33.2%.

Import Prices by Country

In 2022, the average import price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, shrinking by -4.1% against the previous year. Over the period under review, the import price, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2018 an increase of 113%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Taiwan (Chinese) amounted to +61.9% per year.

Source: IndexBox Platform

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