Hong Kong SAR, China: Nucleic Acid Market 2024

Nucleic Acid Market Size in Hong Kong SAR, China

The Hong Kong nucleic acid market shrank dramatically to $X in 2021, which is down by -44.6% against the previous year. Over the period under review, consumption continues to indicate a abrupt downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Nucleic Acid Production in Hong Kong SAR, China

In value terms, nucleic acid production contracted to $X in 2021 estimated in export price. Overall, production showed a slight shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 99%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Nucleic Acid Exports

Exports from Hong Kong SAR, China

In 2021, approx. X tons of nucleic acids and their salts were exported from Hong Kong SAR; growing by 229% on 2020. Over the period under review, exports posted a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nucleic acid exports surged to $X in 2021. Overall, exports, however, saw a precipitous shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 163%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for nucleic acid exports from Hong Kong SAR, with a 95% share of total exports. It was followed by India (X tons), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-12.2% per year) and Singapore (-46.6% per year).

In value terms, China ($X) remains the key foreign market for nucleic acids and their salts exports from Hong Kong SAR, comprising 81% of total exports. The second position in the ranking was held by India ($X), with a 5.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +38.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-14.0% per year) and Singapore (-46.6% per year).

Export Prices by Country

In 2021, the average nucleic acid export price amounted to $X per ton, shrinking by -35.9% against the previous year. In general, the export price showed a precipitous setback. The growth pace was the most rapid in 2015 an increase of 230% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to China ($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 China (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Nucleic Acid Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of nucleic acids and their salts decreased by -38.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports saw a noticeable shrinkage. The pace of growth was the most pronounced in 2020 when imports increased by 67%. As a result, imports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, nucleic acid imports dropped modestly to $X in 2021. In general, imports showed a dramatic decrease. The pace of growth was the most pronounced in 2017 with an increase of 163%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest nucleic acid supplier to Hong Kong SAR, accounting for a 50% share of total imports. Moreover, nucleic acid imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by Belgium (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.5% per year) and Belgium (+83.2% per year).

In value terms, China ($X) constituted the largest supplier of nucleic acids and their salts to Hong Kong SAR, comprising 70% of total imports. The second position in the ranking was held by India ($X), with a 4.3% share of total imports. It was followed by Japan, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-28.9% per year) and Japan (-1.2% per year).

Import Prices by Country

In 2021, the average nucleic acid import price amounted to $X per ton, surging by 59% against the previous year. Overall, the import price, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 186% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 India ($X per ton), while the price for Belgium ($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 (+9.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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