Hong Kong SAR, China: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Hong Kong SAR, China

The Hong Kong expansible polystyrene market rose modestly to $X in 2021, surging by 3.5% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Expansible Polystyrene Production in Hong Kong SAR, China

In value terms, expansible polystyrene production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2015 with an increase of 38%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Expansible Polystyrene Exports

Exports from Hong Kong SAR, China

In 2021, after three years of decline, there was growth in overseas shipments of expansible polystyrene in primary forms, when their volume increased by 1.4% to X tons. In general, exports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 11% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, expansible polystyrene exports surged to $X in 2021. Over the period under review, exports, however, saw a abrupt curtailment. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for expansible polystyrene exports from Hong Kong SAR, with a 98% share of total exports. It was followed by Vietnam (X tons), with a 2.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China totaled -12.9%.

In value terms, China ($X) remains the key foreign market for expansible polystyrene in primary forms exports from Hong Kong SAR, comprising 99% of total exports. The second position in the ranking was held by Vietnam ($X), with a 1.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -11.8%.

Export Prices by Country

In 2021, the average expansible polystyrene export price amounted to $X per ton, jumping by 26% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+1.3%).

Expansible Polystyrene Imports

Imports into Hong Kong SAR, China

In 2021, after two years of decline, there was growth in purchases abroad of expansible polystyrene in primary forms, when their volume increased by 1.6% to X tons. In general, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, expansible polystyrene imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a deep slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of expansible polystyrene to Hong Kong SAR, with a 50% share of total imports. Moreover, expansible polystyrene imports from the United States exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was held by Mexico (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-10.9% per year) and Mexico (+38.9% per year).

In value terms, the United States ($X) constituted the largest supplier of expansible polystyrene in primary forms to Hong Kong SAR, comprising 61% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 16% share of total imports. It was followed by Japan, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-10.4% per year) and Japan (-15.7% per year).

Import Prices by Country

In 2021, the average expansible polystyrene import price amounted to $X per ton, with an increase of 19% against the previous year. Overall, the import price, however, recorded a mild decrease. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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