Hong Kong SAR, China: Other Chemical Products Market 2024

Other Chemical Products Market Size in Hong Kong SAR, China

The Hong Kong other chemical products market stood at $X in 2022, remaining constant against the previous year. Overall, consumption, however, saw a abrupt downturn. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Other Chemical Products Production in Hong Kong SAR, China

In value terms, other chemical products production amounted to $X in 2022 estimated in export price. Overall, production, however, recorded a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 39%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Other Chemical Products Exports

Exports from Hong Kong SAR, China

For the third consecutive year, Hong Kong SAR recorded growth in overseas shipments of other chemical products, which increased by 25% to X tons in 2022. Overall, exports, however, saw a significant decline. The most prominent rate of growth was recorded in 2013 when exports increased by 72%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, other chemical products exports rose remarkably to $X in 2022. In general, exports, however, recorded a precipitous decline. The most prominent rate of growth was recorded in 2013 with an increase of 18%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), Thailand (X tons) and the United States (X tons) were the main destinations of other chemical products exports from Hong Kong SAR, together comprising 73% of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of -16.9%), while shipments for the other leaders experienced a decline.

In value terms, China ($X) remains the key foreign market for other chemical products exports from Hong Kong SAR, comprising 83% of total exports. The second position in the ranking was held by Vietnam ($X), with a 1.8% share of total exports. It was followed by Taiwan (Chinese), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -51.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-46.3% per year) and Taiwan (Chinese) (-51.0% per year).

Export Prices by Country

In 2022, the average other chemical products export price amounted to $X per ton, with a decrease of -9.9% against the previous year. Overall, the export price faced a dramatic downturn. The growth pace was the most rapid in 2014 an increase of 58% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-13.5%), while the prices for the other major destinations experienced a decline.

Other Chemical Products Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of other chemical products increased by 9.2% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, imports, however, faced a significant curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 33% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, other chemical products imports rose slightly to $X in 2022. In general, imports, however, continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2016 when imports increased by 2.1%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main other chemical products supplier to Hong Kong SAR, with a 92% share of total imports. It was followed by Japan (X tons), with a 2% share of total imports. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 1.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -26.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-43.6% per year) and Taiwan (Chinese) (-41.4% per year).

In value terms, Japan ($X), Taiwan (Chinese) ($X) and China ($X) constituted the largest other chemical products suppliers to Hong Kong SAR, together accounting for 72% of total imports. South Korea, the United States, Germany and Singapore lagged somewhat behind, together accounting for a further 19%.

Among the main suppliers, South Korea, with a CAGR of -33.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average other chemical products import price amounted to $X per ton, declining by -6.8% against the previous year. In general, the import price showed a abrupt setback. The growth pace was the most rapid in 2014 when the average import price increased by 6.8%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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