Hong Kong SAR, China: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Hong Kong SAR, China

After two years of growth, the Hong Kong market for palmitic acid, stearic acid, their salts and esters decreased by -9.3% to $X in 2021. In general, consumption, however, saw a pronounced slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in Hong Kong SAR, China

In value terms, production of palmitic acid, stearic acid, their salts and esters reduced to $X in 2021 estimated in export price. In general, production, however, recorded a pronounced decrease. The pace of growth appeared the most rapid in 2015 when the production volume increased by 26% against the previous year. Over the period under review, production of attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports from Hong Kong SAR, China

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters were finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, recorded a abrupt decline. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, exports of palmitic acid, stearic acid, their salts and esters surged to $X in 2021. Overall, exports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2015 with an increase of 72%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

China (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Hong Kong SAR, with a 92% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to China exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+32.2% per year) and Thailand (+32.0% per year).

In value terms, China ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Hong Kong SAR, comprising 85% of total exports. The second position in the ranking was held by the United States ($X), with a 7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China amounted to -8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+32.9% per year) and Thailand (+44.6% per year).

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, dropping by -16.6% against the previous year. Overall, the export price, however, posted a strong expansion. The pace of growth was the most pronounced in 2020 an increase of 33% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports into Hong Kong SAR, China

In 2021, purchases abroad of palmitic acid, stearic acid, their salts and esters was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a deep downturn. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of palmitic acid, stearic acid, their salts and esters surged to $X in 2021. Over the period under review, imports, however, recorded a drastic downturn. Over the period under review, imports of attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), China (X tons) and Singapore (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Hong Kong SAR, together accounting for 90% of total imports. The United States, Japan, Canada and Taiwan (Chinese) lagged somewhat behind, together comprising a further 9.3%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +18.9%), while imports for the other leaders experienced a decline.

In value terms, China ($X), Malaysia ($X) and Singapore ($X) constituted the largest palmitic acid, stearic acid, their salts and esters suppliers to Hong Kong SAR, with a combined 69% share of total imports. The United States, Canada, Japan and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Canada, with a CAGR of +25.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, with an increase of 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2018 an increase of 16% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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