Hong Kong SAR, China: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Hong Kong SAR, China

The Hong Kong phenylacetic acid market surged to $X in 2022, jumping by X% against the previous year. In general, consumption, however, continues to indicate a deep reduction. Phenylacetic acid consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Phenylacetic Acid Production in Hong Kong SAR, China

In value terms, phenylacetic acid production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Phenylacetic Acid Exports

Exports from Hong Kong SAR, China

For the fifth consecutive year, Hong Kong SAR recorded decline in shipments abroad of phenylacetic acid, its salts and esters, which decreased by X% to X tons in 2022. Over the period under review, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, phenylacetic acid exports dropped to $X in 2022. In general, exports, however, showed moderate growth. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for phenylacetic acid exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, phenylacetic acid exports to China exceeded the volume sent to the second major destination, the United States (X kg), sevenfold. France (X kg) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

In value terms, the United States ($X), France ($X) and China ($X) constituted the largest markets for phenylacetic acid exported from Hong Kong SAR worldwide, with a combined X% share of total exports. Latvia, India and Italy lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Italy, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average phenylacetic acid export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 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 Latvia ($X per ton), while the average price for exports to China ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of phenylacetic acid, its salts and esters increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a abrupt decline. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, phenylacetic acid imports soared to $X in 2022. Over the period under review, imports, however, saw a perceptible shrinkage. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Germany (X kg) were the main suppliers of phenylacetic acid imports to Hong Kong SAR, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of phenylacetic acid, its salts and esters to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an X% share of total imports.

From 2012 to 2022, 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: Taiwan (Chinese) (X% per year) and Germany (X% per year).

Import Prices by Country

The average phenylacetic acid import price stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then dropped significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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