Hong Kong SAR, China: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in Hong Kong SAR, China

The Hong Kong polycarboxylic acid market expanded modestly to $X in 2022, picking up by 3.4% against the previous year. The market value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Polycarboxylic Acid Production in Hong Kong SAR, China

In value terms, polycarboxylic acid production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 17% against the previous year. Polycarboxylic acid production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Polycarboxylic Acid Exports

Exports from Hong Kong SAR, China

In 2022, approx. X tons of polycarboxylic acids were exported from Hong Kong SAR; with a decrease of -53.1% against the previous year's figure. In general, exports showed a sharp decline. The most prominent rate of growth was recorded in 2021 with an increase of 26%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, polycarboxylic acid exports declined notably to $X in 2022. Over the period under review, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 48% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for polycarboxylic acid exports from Hong Kong SAR, with a 90% share of total exports. Moreover, polycarboxylic acid exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -20.9%.

In value terms, China ($X) remains the key foreign market for polycarboxylic acids exports from Hong Kong SAR, comprising 92% of total exports. The second position in the ranking was held by Vietnam ($X), with a 4.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled -18.3%.

Export Prices by Country

The average polycarboxylic acid export price stood at $X per ton in 2022, growing by 40% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polycarboxylic acid export price increased by +64.6% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.3%), while the prices for the other major destinations experienced a decline.

Polycarboxylic Acid Imports

Imports into Hong Kong SAR, China

Polycarboxylic acid imports into Hong Kong SAR dropped significantly to X tons in 2022, shrinking by -23.3% against the previous year's figure. In general, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2021 when imports increased by 32%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, polycarboxylic acid imports declined to $X in 2022. Over the period under review, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 71% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), Taiwan (Chinese) (X tons) and China (X tons) were the main suppliers of polycarboxylic acid imports to Hong Kong SAR, together comprising 81% of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +23.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Taiwan (Chinese) ($X) and South Korea ($X) appeared to be the largest polycarboxylic acid suppliers to Hong Kong SAR, together comprising 79% of total imports.

Taiwan (Chinese), with a CAGR of +22.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average polycarboxylic acid import price amounted to $X per ton, increasing by 25% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :