Hong Kong SAR, China: Ethanol Market 2024

Ethanol Market Size in Hong Kong SAR, China

The Hong Kong ethanol market rose slightly to $X in 2022, increasing by 3.8% against the previous year. Over the period under review, consumption saw a perceptible expansion. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Ethanol Production in Hong Kong SAR, China

In value terms, ethanol production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate moderate growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 35%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Ethanol Exports

Exports from Hong Kong SAR, China

Ethanol exports from Hong Kong SAR rose notably to X litres in 2022, growing by 6.4% against the previous year's figure. Overall, exports, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2020 with an increase of 581%. The exports peaked at X litres in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, ethanol exports rose markedly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 676% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Sierra Leone (X litres) was the main destination for ethanol exports from Hong Kong SAR, accounting for a 83% share of total exports. Moreover, ethanol exports to Sierra Leone exceeded the volume sent to the second major destination, Macao SAR (X litres), ninefold. The third position in this ranking was held by China (X litres), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sierra Leone totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+12.5% per year) and China (+21.7% per year).

In value terms, Sierra Leone ($X) remains the key foreign market for ethyl alcohol exports from Hong Kong SAR, comprising 67% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 22% share of total exports. It was followed by China, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value to Sierra Leone amounted to -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+26.6% per year) and China (+30.7% per year).

Export Prices by Country

In 2022, the average ethanol export price amounted to $X per litre, leveling off at the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethanol export price increased by +72.3% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of 27% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per litre), while the average price for exports to Sierra Leone ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ethanol Imports

Imports into Hong Kong SAR, China

In 2022, approx. X litres of ethyl alcohol were imported into Hong Kong SAR; shrinking by -11% against 2021. Over the period under review, imports, however, posted a mild increase. The growth pace was the most rapid in 2020 when imports increased by 91%. As a result, imports reached the peak of X litres. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, ethanol imports totaled $X in 2022. Overall, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 98% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

China (X litres), Pakistan (X litres) and India (X litres) were the main suppliers of ethanol imports to Hong Kong SAR, with a combined 66% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +36.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and the UK ($X) constituted the largest ethanol suppliers to Hong Kong SAR, with a combined 66% share of total imports.

Japan, with a CAGR of +39.2%, 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 more modest paces of growth.

Import Prices by Country

The average ethanol import price stood at $X per litre in 2022, with an increase of 13% against the previous year. Over the last decade, it increased at an average annual rate of +4.9%. The most prominent rate of growth was recorded in 2015 an increase of 23%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per litre), while the price for Singapore ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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