Hong Kong SAR, China: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Hong Kong SAR, China

The Hong Kong cyclic hydrocarbons market skyrocketed to $X in 2021, growing by 16% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 -12.1% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Cyclic Hydrocarbons Production in Hong Kong SAR, China

In value terms, cyclic hydrocarbons production soared to $X in 2021 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.9% against 2019 indices. The growth pace was the most rapid in 2018 when the production volume increased by 45% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Cyclic Hydrocarbons Exports

Exports from Hong Kong SAR, China

In 2021, approx. X tons of other cyclic hydrocarbons were exported from Hong Kong SAR; picking up by 309% on the previous year's figure. In general, exports, however, showed a dramatic curtailment. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cyclic hydrocarbons exports surged to $X in 2021. Overall, exports, however, saw a perceptible curtailment. Over the period under review, the exports attained the maximum 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 cyclic hydrocarbons exports from Hong Kong SAR, accounting for a 97% share of total exports. It was followed by the United States (X kg), with a 1.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to -37.1%.

In value terms, China ($X) remains the key foreign market for other cyclic hydrocarbons exports from Hong Kong SAR, comprising 90% of total exports. The second position in the ranking was held by the United States ($X), with a 5.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -5.2%.

Export Prices by Country

The average cyclic hydrocarbons export price stood at $X per ton in 2021, increasing by 18% against the previous year. In general, the export price posted a significant increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by 627%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($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 China (+50.8%).

Cyclic Hydrocarbons Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of other cyclic hydrocarbons was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a precipitous slump. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, cyclic hydrocarbons imports surged to $X in 2021. Overall, imports, however, saw a deep downturn. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of cyclic hydrocarbons to Hong Kong SAR, accounting for a 67% share of total imports. Moreover, cyclic hydrocarbons imports from Japan exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. China (X kg) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan totaled -25.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-31.6% per year) and China (-50.2% per year).

In value terms, Japan ($X) constituted the largest supplier of other cyclic hydrocarbons to Hong Kong SAR, comprising 96% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 1.9% share of total imports. It was followed by Spain, with a 0.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+19.4% per year) and Spain (-19.3% per year).

Import Prices by Country

In 2021, the average cyclic hydrocarbons import price amounted to $X per ton, which is down by -6% against the previous year. Overall, the import price, however, saw significant growth. The growth pace was the most rapid in 2019 an increase of 457%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+30.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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