Hong Kong SAR, China: Market for Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass 2024

Market Size for Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass in Hong Kong SAR, China

In 2022, the Hong Kong pigments, opacifiers and colours market decreased by -0.8% to $X, falling for the third consecutive year after three years of growth. Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.3% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass in Hong Kong SAR, China

In value terms, pigments, opacifiers and colours production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of 58%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass

Exports from Hong Kong SAR, China

In 2022, the amount of pigments, opacifiers and colours for ceramics, enamelling or glass exported from Hong Kong SAR contracted notably to X tons, with a decrease of -30.4% compared with 2021. Over the period under review, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 176% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, pigments, opacifiers and colours exports declined rapidly to $X in 2022. Overall, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by 75% against the previous year. 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 pigments, opacifiers and colours exports from Hong Kong SAR, accounting for a 93% share of total exports. It was followed by Thailand (X tons), with a 2.8% share of total exports. The third position in this ranking was held by Turkey (X tons), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-15.7% per year) and Turkey (+1,176.6% per year).

In value terms, China ($X) remains the key foreign market for pigments, opacifiers and colours for ceramics, enamelling or glass exports from Hong Kong SAR, comprising 87% of total exports. The second position in the ranking was taken by Thailand ($X), with a 9.7% share of total exports. It was followed by Vietnam, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-14.9% per year) and Vietnam (-3.2% per year).

Export Prices by Country

In 2022, the average pigments, opacifiers and colours export price amounted to $X per ton, with an increase of 3.6% against the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pigments, opacifiers and colours export price decreased by -34.4% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 82%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Turkey ($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 (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass

Imports into Hong Kong SAR, China

In 2022, pigments, opacifiers and colours imports into Hong Kong SAR fell rapidly to X tons, which is down by -47.8% on 2021. Over the period under review, imports continue to indicate a sharp curtailment. The growth pace was the most rapid in 2021 with an increase of 90%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, pigments, opacifiers and colours imports shrank remarkably to $X in 2022. Overall, imports faced a deep contraction. The growth pace was the most rapid in 2021 with an increase of 50%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of pigments, opacifiers and colours to Hong Kong SAR, with a 80% share of total imports. Moreover, pigments, opacifiers and colours imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with a 2% share.

From 2012 to 2022, the average annual growth rate of volume from Japan amounted to -4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-27.8% per year) and the United States (+2.6% per year).

In value terms, Japan ($X) constituted the largest supplier of pigments, opacifiers and colours for ceramics, enamelling or glass to Hong Kong SAR, comprising 96% of total imports. The second position in the ranking was held by China ($X), with a 2.5% share of total imports. It was followed by the United States, with a 0.6% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-28.2% per year) and the United States (+2.8% per year).

Import Prices by Country

The average pigments, opacifiers and colours import price stood at $X per ton in 2022, surging by 61% against the previous year. In general, the import price saw a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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