Hong Kong SAR, China: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in Hong Kong SAR, China

The Hong Kong refined or synthetic glycerol market expanded rapidly to $X in 2022, picking up by 6.3% against the previous year. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.2% against 2020 indices. Refined or synthetic glycerol consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Refined or Synthetic Glycerol in Hong Kong SAR, China

In value terms, refined or synthetic glycerol production reached $X in 2022 estimated in export price. In general, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.0% against 2018 indices. The pace of growth appeared the most rapid in 2017 with an increase of 58%. Refined or synthetic glycerol production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Refined or Synthetic Glycerol

Exports from Hong Kong SAR, China

After four years of decline, overseas shipments of refined or synthetic glycerol increased by 44% to X tons in 2022. In general, exports, however, saw a abrupt descent. The growth pace was the most rapid in 2015 with an increase of 401% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, refined or synthetic glycerol exports skyrocketed to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 334%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for refined or synthetic glycerol exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -6.6%.

In value terms, China ($X) also remains the key foreign market for refined or synthetic glycerol exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +1.5%.

Export Prices by Country

In 2022, the average refined or synthetic glycerol export price amounted to $X per ton, declining by -14.9% against the previous year. In general, the export price, however, showed a strong expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 226% against the previous year. The export price peaked at $X per ton in 2021, and then dropped in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +8.7% per year.

Imports of Refined or Synthetic Glycerol

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of refined or synthetic glycerol was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, saw a mild decrease. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, refined or synthetic glycerol imports surged to $X in 2022. In general, imports enjoyed a slight expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 278%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of refined or synthetic glycerol to Hong Kong SAR, with a 76% share of total imports. Moreover, refined or synthetic glycerol imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), eightfold. The third position in this ranking was held by Thailand (X tons), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+17.7% per year) and Thailand (0.0% per year).

In value terms, Malaysia ($X) constituted the largest supplier of refined or synthetic glycerol to Hong Kong SAR, comprising 68% of total imports. The second position in the ranking was held by Japan ($X), with a 15% share of total imports. It was followed by Indonesia, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia totaled +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.3% per year) and Indonesia (+24.9% per year).

Import Prices by Country

In 2022, the average refined or synthetic glycerol import price amounted to $X per ton, growing by 25% against the previous year. Overall, the import price enjoyed tangible growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 172%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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