Hong Kong SAR, China: Market for Inorganic Oxygen Compounds Of Non-Metals 2024

Market Size for Inorganic Oxygen Compounds Of Non-Metals in Hong Kong SAR, China

The Hong Kong market for inorganic oxygen compounds of non-metals shrank to $X in 2021, declining by -6% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +10.1% 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 -10.3% against 2018 indices. Inorganic oxygen compounds of non-metals consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Inorganic Oxygen Compounds Of Non-Metals in Hong Kong SAR, China

In value terms, inorganic oxygen compounds of non-metals production dropped to $X in 2021 estimated in export price. Overall, production, however, showed strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 59% against the previous year. Inorganic oxygen compounds of non-metals production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Inorganic Oxygen Compounds Of Non-Metals

Exports from Hong Kong SAR, China

In 2021, exports of inorganic oxygen compounds of non-metals from Hong Kong SAR declined significantly to X tons, shrinking by -22.7% compared with the year before. Overall, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 376%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, inorganic oxygen compounds of non-metals exports soared to $X in 2021. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 1,859%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons), Indonesia (X tons) and the Philippines (X tons) were the main destinations of inorganic oxygen compounds of non-metals exports from Hong Kong SAR, together accounting for 69% of total exports. Vietnam, Saudi Arabia, Thailand, South Korea, Taiwan (Chinese), the United States, the United Arab Emirates, Belgium and Singapore lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +54.9%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) emerged as the key foreign market for inorganic oxygen compounds of non-metals exports from Hong Kong SAR, comprising 67% of total exports. The second position in the ranking was taken by Belgium ($X), with an 8% share of total exports. It was followed by the United States, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +36.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+10.3% per year) and the United States (-2.1% per year).

Export Prices by Country

In 2021, the average export price for inorganic oxygen compounds of non-metals amounted to $X per ton, growing by 116% against the previous year. Overall, the export price recorded prominent growth. The pace of growth appeared the most rapid in 2018 an increase of 1,007% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a 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 Belgium ($X per ton), while the average price for exports to the United Arab Emirates ($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 Singapore (+24.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Inorganic Oxygen Compounds Of Non-Metals

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of inorganic oxygen compounds of non-metals decreased by -6.3% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, posted strong growth. The growth pace was the most rapid in 2014 when imports increased by 953% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, inorganic oxygen compounds of non-metals imports surged to $X in 2021. Overall, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 1,463% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest inorganic oxygen compounds of non-metals supplier to Hong Kong SAR, with a 85% share of total imports. Moreover, inorganic oxygen compounds of non-metals imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. Belgium (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+37.4% per year) and Belgium (+180.0% per year).

In value terms, the largest inorganic oxygen compounds of non-metals suppliers to Hong Kong SAR were China ($X), Belgium ($X) and Sweden ($X), together accounting for 82% of total imports.

Belgium, with a CAGR of +141.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for inorganic oxygen compounds of non-metals stood at $X per ton in 2021, picking up by 108% against the previous year. In general, the import price showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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 Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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