Hong Kong SAR, China: Epoxide Resin Market 2024

Epoxide Resin Market Size in Hong Kong SAR, China

In 2021, the Hong Kong epoxide resin market decreased by -7.9% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, recorded a perceptible setback. Epoxide resin consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Epoxide Resin Production in Hong Kong SAR, China

In value terms, epoxide resin production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, saw a deep slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 63% against the previous year. Epoxide resin production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Epoxide Resin Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of epoxide resins was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, faced a abrupt descent. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, epoxide resin exports surged to $X in 2021. Overall, exports, however, recorded a abrupt descent. 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 epoxide resin exports from Hong Kong SAR, with a 84% share of total exports. Moreover, epoxide resin exports to China exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China stood at -14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+6.2% per year) and Taiwan (Chinese) (-10.3% per year).

In value terms, China ($X) remains the key foreign market for epoxide resins exports from Hong Kong SAR, comprising 84% of total exports. The second position in the ranking was taken by the United States ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled -9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.5% per year) and Taiwan (Chinese) (-11.8% per year).

Export Prices by Country

In 2021, the average epoxide resin export price amounted to $X per ton, dropping by -7.3% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, epoxide resin export price increased by +54.3% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of 24% against the previous year. The export price peaked at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Epoxide Resin Imports

Imports into Hong Kong SAR, China

After three years of decline, overseas purchases of epoxide resins increased by 16% to X tons in 2021. In general, imports, however, faced a abrupt slump. The pace of growth was the most pronounced in 2016 when imports increased by 21% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, epoxide resin imports stood at $X in 2021. Overall, imports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2016 when imports increased by 16% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons), South Korea (X tons) and China (X tons) were the main suppliers of epoxide resin imports to Hong Kong SAR, with a combined 67% share of total imports. Taiwan (Chinese), Singapore, the United States, Belgium, Germany and the Netherlands lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +11.8%), while imports for the other leaders experienced a decline.

In value terms, Japan ($X) constituted the largest supplier of epoxide resins to Hong Kong SAR, comprising 43% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-4.6% per year) and China (-18.4% per year).

Import Prices by Country

In 2021, the average epoxide resin import price amounted to $X per ton, falling by -12% against the previous year. In general, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 an increase of 23% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then reduced in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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