Hong Kong SAR, China: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong denatured ethyl alcohol market decreased by -3.7% to $X in 2021. In general, consumption saw a perceptible decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Denatured Ethyl Alcohol Production in Hong Kong SAR, China

In value terms, denatured ethyl alcohol production reduced to $X in 2021 estimated in export price. In general, production saw a pronounced decline. The growth pace was the most rapid in 2020 with an increase of 14% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Denatured Ethyl Alcohol Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of denatured ethyl alcohol and other denatured spirits decreased by -69.8% to X tons, falling for the fourth year in a row after six years of growth. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 95%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, denatured ethyl alcohol exports declined rapidly to $X in 2021. Overall, exports saw a abrupt decline. The pace of growth was the most pronounced in 2014 when exports increased by 82% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Sierra Leone (X tons) was the main destination for denatured ethyl alcohol exports from Hong Kong SAR, with a 80% share of total exports. Moreover, denatured ethyl alcohol exports to Sierra Leone exceeded the volume sent to the second major destination, Samoa (X tons), more than tenfold. The third position in this ranking was held by Malaysia (X tons), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume to Sierra Leone totaled -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Samoa (-33.8% per year) and Malaysia (-24.1% per year).

In value terms, Sierra Leone ($X) remains the key foreign market for denatured ethyl alcohol and other denatured spirits exports from Hong Kong SAR, comprising 73% of total exports. The second position in the ranking was taken by Samoa ($X), with an 8% share of total exports. It was followed by China, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to Sierra Leone amounted to -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Samoa (-32.0% per year) and China (+22.0% per year).

Export Prices by Country

The average denatured ethyl alcohol export price stood at $X per ton in 2021, jumping by 21% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Sierra Leone ($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 (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Denatured Ethyl Alcohol Imports

Imports into Hong Kong SAR, China

Denatured ethyl alcohol imports into Hong Kong SAR skyrocketed to X tons in 2021, with an increase of 353% on the previous year. In general, imports saw a modest expansion. The most prominent rate of growth was recorded in 2018 with an increase of 430%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, denatured ethyl alcohol imports skyrocketed to $X in 2021. Over the period under review, imports saw strong growth. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of denatured ethyl alcohol to Hong Kong SAR, with a 35% share of total imports. Moreover, denatured ethyl alcohol imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +93.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+116.3% per year) and the United States (-11.2% per year).

In value terms, the largest denatured ethyl alcohol suppliers to Hong Kong SAR were China ($X), South Africa ($X) and Australia ($X), together accounting for 37% of total imports.

Among the main suppliers, South Africa, with a CAGR of +133.1%, saw the highest growth rate of the value of imports, 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 denatured ethyl alcohol import price amounted to $X per ton, increasing by 46% against the previous year. Overall, the import price recorded a tangible increase. The most prominent rate of growth was recorded in 2016 an increase of 188%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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