Hong Kong SAR, China: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in Hong Kong SAR, China

The Hong Kong aromatic hydrocarbons derivatives market expanded notably to $X in 2021, growing by 5.6% against the previous year. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +11.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +18.7% against 2016 indices. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Aromatic Hydrocarbons Derivatives Production in Hong Kong SAR, China

In value terms, aromatic hydrocarbons derivatives production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +12.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +194.8% against 2012 indices. The pace of growth appeared the most rapid in 2013 with an increase of 102% against the previous year. Aromatic hydrocarbons derivatives production peaked at $X in 2020, and then contracted in the following year.

Aromatic Hydrocarbons Derivatives Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of halogenated derivatives of aromatic hydrocarbons increased by 96% to X tons, rising for the second consecutive year after three years of decline. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 5,534% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, aromatic hydrocarbons derivatives exports shrank slightly to $X in 2021. In general, exports posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 1,360% against the previous year. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

The United States (X tons) was the main destination for aromatic hydrocarbons derivatives exports from Hong Kong SAR, with a 51% share of total exports. Moreover, aromatic hydrocarbons derivatives exports to the United States exceeded the volume sent to the second major destination, Ukraine (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +85.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (0.0% per year) and France (+4,096.6% per year).

In value terms, the largest markets for aromatic hydrocarbons derivatives exported from Hong Kong SAR were China ($X), the United States ($X) and Ukraine ($X), together comprising 77% of total exports. France, Japan, Germany and India lagged somewhat behind, together accounting for a further 22%.

In terms of the main countries of destination, France, with a CAGR of +1,076.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average aromatic hydrocarbons derivatives export price amounted to $X per ton, dropping by -50.7% against the previous year. In general, the export price faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 357%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 the United States (-17.7%), while the prices for the other major destinations experienced a decline.

Aromatic Hydrocarbons Derivatives Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of halogenated derivatives of aromatic hydrocarbons increased by 75% to X tons, rising for the third year in a row after two years of decline. Overall, imports showed a prominent expansion. The pace of growth was the most pronounced in 2020 when imports increased by 549% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, aromatic hydrocarbons derivatives imports stood at $X in 2021. Over the period under review, imports recorded significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 348% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main aromatic hydrocarbons derivatives supplier to Hong Kong SAR, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +10.5%.

In value terms, China ($X) constituted the largest supplier of halogenated derivatives of aromatic hydrocarbons to Hong Kong SAR.

From 2012 to 2021, the average annual growth rate of value from China stood at +21.5%.

Import Prices by Country

In 2021, the average aromatic hydrocarbons derivatives import price amounted to $X per ton, declining by -34.7% against the previous year. Over the period under review, the import price, however, recorded strong growth. The pace of growth was the most pronounced in 2018 an increase of 170% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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 +10.0% per year.

Source: IndexBox Platform

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