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Report Hong Kong SAR, China - Formic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Hong Kong SAR, China - Formic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Market for Formic Acid, Its Salts And Esters 2024

Market Size for Formic Acid, Its Salts And Esters in Hong Kong SAR, China

The Hong Kong market for formic acid, its salts and esters amounted to $X in 2021, with an increase of 4% against the previous year. In general, consumption, however, recorded a pronounced decrease. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Formic Acid, Its Salts And Esters in Hong Kong SAR, China

In value terms, production of formic acid, its salts and esters reached $X in 2021 estimated in export price. Overall, production, however, recorded a noticeable decline. The pace of growth appeared the most rapid in 2015 with an increase of 18% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Formic Acid, Its Salts And Esters

Exports from Hong Kong SAR, China

In 2021, shipments abroad of formic acid, its salts and esters was finally on the rise to reach X tons for the first time since 2013, thus ending a seven-year declining trend. In general, exports, however, continue to indicate a dramatic shrinkage. Over the period under review, the exports of reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of formic acid, its salts and esters declined remarkably to $X in 2021. Over the period under review, exports, however, saw a dramatic setback. The most prominent rate of growth was recorded in 2015 when exports increased by 96%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Vietnam (X tons) was the main destination for exports of formic acid, its salts and esters from Hong Kong SAR, accounting for a 69% share of total exports. Moreover, exports of formic acid, its salts and esters to Vietnam exceeded the volume sent to the second major destination, China (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Vietnam amounted to +3.9%.

In value terms, China ($X) remains the key foreign market for formic acid, its salts and esters exports from Hong Kong SAR, comprising 71% of total exports. The second position in the ranking was held by Vietnam ($X), with a 29% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China amounted to -32.6%.

Export Prices by Country

In 2021, the average export price for formic acid, its salts and esters amounted to $X per ton, shrinking by -57.4% against the previous year. Over the period under review, the export price saw a mild decrease. The most prominent rate of growth was recorded in 2015 when the average export price increased by 221%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, 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 (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Formic Acid, Its Salts And Esters

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of formic acid, its salts and esters increased by 6,580% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a perceptible downturn. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, imports of formic acid, its salts and esters soared to $X in 2021. In general, imports, however, continue to indicate a abrupt setback. Over the period under review, imports of reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main formic acid, its salts and esters supplier to Hong Kong SAR, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +12.1%.

In value terms, China ($X) constituted the largest supplier of formic acid, its salts and esters to Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +7.3%.

Import Prices by Country

The average import price for formic acid, its salts and esters stood at $X per ton in 2021, which is down by -83.5% against the previous year. In general, the import price recorded a deep contraction. The growth pace was the most rapid in 2019 when the average import price increased by 799%. The import price peaked at $X per ton in 2020, and then reduced rapidly in the following year.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -4.3% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China remains the largest formic acid, its salts and esters consuming country worldwide, comprising approx. 26% of total volume. Moreover, consumption of formic acid, its salts and esters in China exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by the United States, with a 9.8% share.
China remains the largest formic acid, its salts and esters producing country worldwide, comprising approx. 41% of total volume. Moreover, production of formic acid, its salts and esters in China exceeded the figures recorded by the second-largest producer, the United States, fourfold. The third position in this ranking was occupied by India, with an 8.1% share.
In value terms, the largest formic acid, its salts and esters suppliers to Hong Kong SAR were the UK, Vietnam and Belgium, with a combined 94% share of total imports.
In value terms, China remains the key foreign market for formic acid, its salts and esters exports from Hong Kong SAR, comprising 91% of total exports. The second position in the ranking was occupied by Vietnam, with a 9.1% share of total exports.
The average export price for formic acid, its salts and esters stood at $2,827 per ton in 2020, growing by 178% against the previous year.
The average import price for formic acid, its salts and esters stood at $1,866 per ton in 2020, which is down by -43.9% against the previous year.

This report provides an in-depth analysis of the market for formic acid, its salts and esters in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20143250 - Formic acid, its salts and esters

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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