Hong Kong SAR, China: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in Hong Kong SAR, China

The Hong Kong synthetic organic colouring matters market rose remarkably to $X in 2022, with an increase of 9.6% against the previous year. The market value increased at an average annual rate of +4.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Synthetic organic colouring matters consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Other Synthetic Organic Colouring Matters in Hong Kong SAR, China

In value terms, synthetic organic colouring matters production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 60%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Other Synthetic Organic Colouring Matters

Exports from Hong Kong SAR, China

In 2022, overseas shipments of other synthetic organic colouring matters decreased by -53.7% to X tons, falling for the ninth year in a row after two years of growth. In general, exports faced a deep slump. The growth pace was the most rapid in 2013 with an increase of 14%. 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, synthetic organic colouring matters exports contracted markedly to $X in 2022. Over the period under review, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 16%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for synthetic organic colouring matters exports from Hong Kong SAR, accounting for a 70% share of total exports. Moreover, synthetic organic colouring matters exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), ninefold. Turkey (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at -21.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-2.0% per year) and Turkey (+18.6% per year).

In value terms, China ($X) remains the key foreign market for other synthetic organic colouring matters exports from Hong Kong SAR, comprising 69% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 6.2% share of total exports. It was followed by Turkey, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+1.2% per year) and Turkey (+21.2% per year).

Export Prices by Country

The average synthetic organic colouring matters export price stood at $X per ton in 2022, surging by 50% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, synthetic organic colouring matters export price increased by +58.3% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to the Philippines ($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 Bangladesh (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports into Hong Kong SAR, China

In 2022, the amount of other synthetic organic colouring matters imported into Hong Kong SAR fell significantly to X tons, which is down by -44% against 2021. Overall, imports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 1.3%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, synthetic organic colouring matters imports declined rapidly to $X in 2022. In general, imports showed a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 3.3%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of synthetic organic colouring matters imports to Hong Kong SAR, together comprising 54% of total imports. Belgium, Malaysia, India, the United States, Spain, South Korea, Germany, Singapore, Indonesia and Thailand lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of -2.8%), while imports for the other leaders experienced a decline.

In value terms, the largest synthetic organic colouring matters suppliers to Hong Kong SAR were Japan ($X), China ($X) and Belgium ($X), with a combined 68% share of total imports.

Belgium, with a CAGR of +0.1%, saw 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 a decline.

Import Prices by Country

The average synthetic organic colouring matters import price stood at $X per ton in 2022, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The pace of growth appeared the most rapid in 2020 an increase of 17%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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