Hong Kong SAR, China: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Hong Kong SAR, China

After two years of growth, the Hong Kong market for oxides of boron and boric acids decreased by -9.4% to $X in 2021. Overall, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +11.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +41.3% against 2018 indices. Boron oxide and boric acid consumption peaked at $X in 2020, and then reduced in the following year.

Production of Oxides Of Boron and Boric Acids in Hong Kong SAR, China

In value terms, boron oxide and boric acid production reduced to $X in 2021 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +59.6% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 40% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then shrank in the following year.

Exports of Oxides Of Boron and Boric Acids

Exports from Hong Kong SAR, China

After two years of decline, shipments abroad of oxides of boron and boric acids increased by 533% to X tons in 2021. Over the period under review, exports, however, showed a sharp shrinkage. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, boron oxide and boric acid exports soared to $X in 2021. Overall, exports, however, showed a abrupt contraction. The exports peaked 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 boron oxide and boric acid exports from Hong Kong SAR, accounting for a 97% share of total exports. It was followed by Japan (X tons), with a 1.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -26.8%.

In value terms, China ($X) remains the key foreign market for oxides of boron and boric acids exports from Hong Kong SAR, comprising 94% of total exports. The second position in the ranking was taken by Japan ($X), with a 1.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China amounted to -18.5%.

Export Prices by Country

The average export price for oxides of boron and boric acids stood at $X per ton in 2021, increasing by 26% against the previous year. Overall, the export price continues to indicate resilient growth. The growth pace was the most rapid in 2019 an increase of 120% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Japan 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 (+11.4%).

Imports of Oxides Of Boron and Boric Acids

Imports into Hong Kong SAR, China

In 2021, boron oxide and boric acid imports into Hong Kong SAR skyrocketed to X tons, with an increase of 236% compared with the year before. Overall, imports, however, showed a deep downturn. The pace of growth was the most pronounced in 2018 when imports increased by 527% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, boron oxide and boric acid imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a abrupt curtailment. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X tons), China (X tons) and Japan (X tons) were the main suppliers of boron oxide and boric acid imports to Hong Kong SAR, with a combined 98% share of total imports. These countries were followed by Belgium and the UK, which together accounted for a further 1.5%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +114.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest boron oxide and boric acid suppliers to Hong Kong SAR were Italy ($X), China ($X) and Japan ($X), with a combined 85% share of total imports. These countries were followed by Belgium and the UK, which together accounted for a further 2.1%.

Belgium, with a CAGR of +48.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for oxides of boron and boric acids stood at $X per ton in 2021, which is down by -9.4% against the previous year. Overall, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 an increase of 44%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, 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 the UK ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+12.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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