Hong Kong SAR, China: Direct Dye Market 2024

Direct Dye Market Size in Hong Kong SAR, China

In 2021, the Hong Kong direct dye market decreased by -0.4% to $X, falling for the third consecutive year after three years of growth. Overall, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -15.9% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Direct Dye Production in Hong Kong SAR, China

In value terms, direct dye production amounted to $X in 2021 estimated in export price. In general, production, however, saw a noticeable slump. The pace of growth appeared the most rapid in 2017 with an increase of 28%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Direct Dye Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of direct dyes and preparations based thereon increased by 84% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a sharp shrinkage. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, direct dye exports surged to $X in 2021. In general, exports, however, recorded a precipitous shrinkage. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Vietnam (X tons) and the Philippines (X tons) were the main destinations of direct dye exports from Hong Kong SAR, with a combined 81% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +39.0%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and the Philippines ($X) constituted the largest markets for direct dye exported from Hong Kong SAR worldwide, with a combined 88% share of total exports.

In terms of the main countries of destination, the Philippines, with a CAGR of +32.8%, 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 2021, the average direct dye export price amounted to $X per ton, with an increase of 18% against the previous year. Over the period under review, the export price showed a prominent increase. The pace of growth appeared the most rapid in 2016 an increase of 87%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the Philippines ($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 Vietnam (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Direct Dye Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of direct dyes and preparations based thereon were imported into Hong Kong SAR; with a decrease of -30.7% on the year before. Over the period under review, imports recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 122% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, direct dye imports declined dramatically to $X in 2021. Overall, imports saw a precipitous curtailment. The growth pace was the most rapid in 2018 with an increase of 57%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of direct dye to Hong Kong SAR, accounting for a 44% share of total imports. Moreover, direct dye imports from India exceeded the figures recorded by the second-largest supplier, Singapore (X kg), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X kg), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled -37.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-17.1% per year) and Taiwan (Chinese) (-27.9% per year).

In value terms, the largest direct dye suppliers to Hong Kong SAR were India ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 81% share of total imports.

Japan, with a CAGR of -13.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average direct dye import price amounted to $X per ton, surging by 17% against the previous year. In general, the import price posted a remarkable increase. The most prominent rate of growth was recorded in 2019 an increase of 71%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+47.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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