Hong Kong SAR, China: Market for Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium 2024

Market Size for Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium in Hong Kong SAR, China

For the third year in a row, the Hong Kong magnesium hydroxide and peroxide market recorded growth in sales value, which increased by 219% to $X in 2022. Over the period under review, consumption enjoyed a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium in Hong Kong SAR, China

In value terms, magnesium hydroxide and peroxide production totaled less than $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a sharp downturn. The most prominent rate of growth was recorded in 2013 when the production volume decreased by -83.6% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

Exports from Hong Kong SAR, China

Magnesium hydroxide and peroxide exports from Hong Kong SAR shrank dramatically to X tons in 2022, waning by -55.2% on 2021 figures. Overall, exports saw a abrupt curtailment. The growth pace was the most rapid in 2016 with an increase of 88% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, magnesium hydroxide and peroxide exports contracted notably to $X in 2022. In general, exports saw a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 80%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for magnesium hydroxide and peroxide exports from Hong Kong SAR, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China totaled -18.8%.

In value terms, China ($X) also remains the key foreign market for hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium exports from Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -19.7%.

Export Prices by Country

In 2022, the average magnesium hydroxide and peroxide export price amounted to $X per ton, picking up by 26% against the previous year. Overall, the export price, however, saw a slight decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 -1.0% per year.

Imports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

Imports into Hong Kong SAR, China

In 2022, approx. X tons of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium were imported into Hong Kong SAR; increasing by 7.1% compared with 2021 figures. Overall, imports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 268% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, magnesium hydroxide and peroxide imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 238% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Japan (X tons) constituted the largest magnesium hydroxide and peroxide supplier to Hong Kong SAR, with a 52% share of total imports. Moreover, magnesium hydroxide and peroxide imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-5.0% per year) and Germany (-0.1% per year).

In value terms, the largest magnesium hydroxide and peroxide suppliers to Hong Kong SAR were Germany ($X), Japan ($X) and South Korea ($X), together accounting for 96% of total imports. India lagged somewhat behind, accounting for a further 3.9%.

Among the main suppliers, India, with a CAGR of +32.3%, recorded 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 magnesium hydroxide and peroxide import price stood at $X per ton in 2022, picking up by 58% against the previous year. In general, the import price saw buoyant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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