Hong Kong SAR, China: Expanded Clays Market 2024

Expanded Clays Market Size in Hong Kong SAR, China

After three years of decline, the Hong Kong expanded clays market increased by 6% to $X in 2021. In general, consumption, however, saw a noticeable slump. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Expanded Clays Production in Hong Kong SAR, China

In value terms, expanded clays production expanded to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable downturn. The growth pace was the most rapid in 2015 with an increase of 55% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Expanded Clays Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of exfoliated vermiculite, expanded clays and foamed slag decreased by -83.8% to X tons, falling for the fourth consecutive year after two years of growth. In general, exports faced a sharp decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 1,356%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, expanded clays exports reduced sharply to $X in 2021. Over the period under review, exports recorded a precipitous decrease. The most prominent rate of growth was recorded in 2016 with an increase of 1,162% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X kg) was the main destination for expanded clays exports from Hong Kong SAR, accounting for a 58% share of total exports. Moreover, expanded clays exports to the Philippines exceeded the volume sent to the second major destination, Malaysia (X kg), sixfold. Seychelles (X kg) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume to the Philippines totaled -31.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+1.4% per year) and Seychelles (+6.7% per year).

In value terms, the largest markets for expanded clays exported from Hong Kong SAR were the Philippines ($X), Malaysia ($X) and Bangladesh ($X), with a combined 73% share of total exports. These countries were followed by China, Ireland, the Netherlands and Seychelles, which together accounted for a further 12%.

The Netherlands, with a CAGR of +28.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average expanded clays export price amounted to $X per ton, surging by 18% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 41%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Seychelles ($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 Ireland (+11.0%), while the prices for the other major destinations experienced mixed trend patterns.

Expanded Clays Imports

Imports into Hong Kong SAR, China

Expanded clays imports into Hong Kong SAR skyrocketed to X tons in 2021, jumping by 80% compared with the previous year. In general, imports, however, recorded a perceptible slump. The growth pace was the most rapid in 2015 when imports increased by 349%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, expanded clays imports soared to $X in 2021. Over the period under review, imports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2015 with an increase of 265% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Norway (X tons) constituted the largest expanded clays supplier to Hong Kong SAR, accounting for a 40% share of total imports. Moreover, expanded clays imports from Norway exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Singapore (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Norway amounted to -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.9% per year) and Singapore (+77.4% per year).

In value terms, Norway ($X), Singapore ($X) and Belgium ($X) appeared to be the largest expanded clays suppliers to Hong Kong SAR, with a combined 33% share of total imports. These countries were followed by China, the United States, Malaysia, Japan, the United Arab Emirates, the Netherlands, Taiwan (Chinese) and Germany, which together accounted for a further 28%.

Among the main suppliers, Malaysia, with a CAGR of +177.5%, 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

The average expanded clays import price stood at $X per ton in 2021, rising by 13% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 56%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per ton), while the price for Norway ($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 United Arab Emirates (+63.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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