Hong Kong SAR, China: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Hong Kong SAR, China

In 2021, the Hong Kong aqueous paint and varnish market increased by 16% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium, when their volume increased by 6% to X tons. In general, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -32.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 118% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, aqueous paint and varnish exports dropped to $X in 2021. Over the period under review, exports, however, saw a mild contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 49% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons), Vietnam (X tons) and China (X tons) were the main destinations of aqueous paint and varnish exports from Hong Kong SAR, together accounting for 96% of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +16.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Macao SAR ($X), Vietnam ($X) and China ($X) constituted the largest markets for aqueous paint and varnish exported from Hong Kong SAR worldwide, with a combined 91% share of total exports.

Vietnam, with a CAGR of +16.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average aqueous paint and varnish export price amounted to $X per ton, with a decrease of -12.5% against the previous year. Overall, the export price recorded a pronounced shrinkage. The growth pace was the most rapid in 2014 when the average export price increased by 37%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to Vietnam ($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 Thailand (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in overseas purchases of paints and varnishes dispersed or dissolved in an aqueous medium, when their volume increased by 12% to X tons. Overall, imports recorded a slight increase. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, aqueous paint and varnish imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the maximum 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 supplier of aqueous paint and varnish to Hong Kong SAR, with a 69% share of total imports. Moreover, aqueous paint and varnish imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), eightfold. The third position in this ranking was held by Japan (X tons), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+2.5% per year) and Japan (-1.5% per year).

In value terms, China ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Hong Kong SAR, comprising 58% of total imports. The second position in the ranking was held by Japan ($X), with a 15% share of total imports. It was followed by Singapore, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.6% per year) and Singapore (+0.1% per year).

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, picking up by 3.9% against the previous year. Over the period under review, the import price, however, showed a mild contraction. The pace of growth was the most pronounced in 2019 an increase of 6.8% 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, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($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 United States (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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