Report Update Nov 1, 2024

Hong Kong SAR, China - Nitric Acid and Sulphonitric Acids - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Hong Kong SAR, China

The Hong Kong nitric and sulphonitric acids market soared to $X in 2021, surging by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a slight descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Hong Kong SAR, China

In 2021, shipments abroad of nitric acid and sulphonitric acids increased by 187% to X tons for the first time since 2015, thus ending a five-year declining trend. Overall, exports, however, saw a pronounced shrinkage. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitric and sulphonitric acids exports soared to $X in 2021. In general, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of 266%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for nitric and sulphonitric acids exports from Hong Kong SAR, accounting for a 78% share of total exports. Moreover, nitric and sulphonitric acids exports to South Korea exceeded the volume sent to the second major destination, China (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to South Korea totaled +12.4%.

In value terms, South Korea ($X) remains the key foreign market for nitric acid and sulphonitric acids exports from Hong Kong SAR, comprising 62% of total exports. The second position in the ranking was taken by China ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea stood at +37.2%.

Export Prices by Country

In 2021, the average nitric and sulphonitric acids export price amounted to $X per ton, falling by -37.4% against the previous year. Overall, the export price, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2015 when the average export price increased by 116% against the previous year. The export price peaked at $X per ton in 2020, and then declined dramatically in the following year.

Average prices varied somewhat for the major export 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 South Korea totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Hong Kong SAR, China

In 2021, approx. X tons of nitric acid and sulphonitric acids were imported into Hong Kong SAR; increasing by 3.9% compared with 2020 figures. Overall, imports, however, recorded a slight slump. The growth pace was the most rapid in 2020 with an increase of 9.1%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, nitric and sulphonitric acids imports surged to $X in 2021. In general, imports, however, saw a mild decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), Thailand (X tons) and China (X tons) were the main suppliers of nitric and sulphonitric acids imports to Hong Kong SAR, with a combined 88% share of total imports. These countries were followed by Malaysia and Taiwan (Chinese), which together accounted for a further 8.6%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +47.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest nitric and sulphonitric acids suppliers to Hong Kong SAR were South Korea ($X), Thailand ($X) and China ($X), with a combined 66% share of total imports. Taiwan (Chinese) and Malaysia lagged somewhat behind, together accounting for a further 6.9%.

Taiwan (Chinese), with a CAGR of +36.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average nitric and sulphonitric acids import price stood at $X per ton in 2021, surging by 17% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for nitric acid and sulphonitric acids in the world?

China remains the largest nitric and sulphonitric acids consuming country worldwide, accounting for 23% of total volume. Moreover, nitric and sulphonitric acids consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The United States ranked third in terms of total consumption with a 9.5% share.

What are the largest producers of nitric acid and sulphonitric acids in the world?

China constituted the country with the largest volume of nitric and sulphonitric acids production, accounting for 23% of total volume. Moreover, nitric and sulphonitric acids production in China exceeded the figures recorded by the second-largest producer, India, twofold. The United States ranked third in terms of total production with a 9.7% share.

What are the leading suppliers of nitric acid and sulphonitric acids to Hong Kong SAR, China?

In value terms, the largest nitric and sulphonitric acids suppliers to Hong Kong SAR were South Korea, Thailand and China, together comprising 78% of total imports. These countries were followed by Taiwan Chinese) and Malaysia, which together accounted for a further 8.1%.

What are the leading importers of nitric acid and sulphonitric acids from Hong Kong SAR, China?

In value terms, South Korea emerged as the key foreign market for nitric and sulphonitric acids exports from Hong Kong SAR, comprising 63% of total exports. The second position in the ranking was occupied by China, with a 25% share of total exports.

What is the average export price for nitric acid and sulphonitric acids in Hong Kong SAR, China?

The average nitric and sulphonitric acids export price stood at $3,227 per ton in 2021, reducing by -37.4% against the previous year.

What is the average import price for nitric acid and sulphonitric acids in Hong Kong SAR, China?

In 2021, the average nitric and sulphonitric acids import price amounted to $590 per ton, rising by 23% against the previous year.

This report provides an in-depth analysis of the market for nitric and sulphonitric acids in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20151050 - Nitric acid, sulphonitric acids

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023