Hong Kong SAR, China: Fungicide And Bactericide Market 2024

Fungicide And Bactericide Market Size in Hong Kong SAR, China

In 2021, the Hong Kong fungicide and bactericide market decreased by -0.6% to $X, falling for the second consecutive year after two years of growth. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.7% against 2019 indices. Fungicide and bactericide consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Fungicide And Bactericide Production in Hong Kong SAR, China

In value terms, fungicide and bactericide production rose rapidly to $X in 2021 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.8% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 67% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Fungicide And Bactericide Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of fungicides, bactericides and seed treatments increased by 370% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, showed a noticeable descent. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, fungicide and bactericide exports surged to $X in 2021. Over the period under review, exports showed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for fungicide and bactericide exports from Hong Kong SAR, accounting for a 90% share of total exports. Moreover, fungicide and bactericide exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China was relatively modest.

In value terms, China ($X) remains the key foreign market for fungicides, bactericides and seed treatments exports from Hong Kong SAR, comprising 89% of total exports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +6.6%.

Export Prices by Country

The average fungicide and bactericide export price stood at $X per ton in 2021, declining by -5% against the previous year. Overall, the export price, however, showed resilient growth. The pace of growth appeared the most rapid in 2018 an increase of 133% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fungicide And Bactericide Imports

Imports into Hong Kong SAR, China

Fungicide and bactericide imports into Hong Kong SAR expanded markedly to X tons in 2021, with an increase of 9.9% on the previous year. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 94%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, fungicide and bactericide imports rose modestly to $X in 2021. Overall, imports saw a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 98%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest fungicide and bactericide supplier to Hong Kong SAR, accounting for a 66% share of total imports. Moreover, fungicide and bactericide imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +25.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+26.6% per year) and Taiwan (Chinese) (+9.0% per year).

In value terms, China ($X) constituted the largest supplier of fungicides, bactericides and seed treatments to Hong Kong SAR, comprising 62% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +26.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+16.5% per year) and Japan (+17.6% per year).

Import Prices by Country

The average fungicide and bactericide import price stood at $X per ton in 2021, dropping by -5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2018 an increase of 23%. The import price peaked at $X per ton in 2020, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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