Hong Kong SAR, China: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Hong Kong SAR, China

In 2021, the Hong Kong polyethylene in primary forms market was finally on the rise to reach $X after two years of decline. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Polyethylene in primary forms consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Polyethylene in Primary Forms in Hong Kong SAR, China

In value terms, polyethylene in primary forms production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 197%. Polyethylene in primary forms production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Polyethylene in Primary Forms

Exports from Hong Kong SAR, China

In 2021, polyethylene in primary forms exports from Hong Kong SAR shrank remarkably to X tons, waning by -22.1% on 2020 figures. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 11%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, polyethylene in primary forms exports contracted modestly to $X in 2021. In general, exports recorded a deep setback. The growth pace was the most rapid in 2014 with an increase of 14%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for polyethylene in primary forms exports from Hong Kong SAR, with a 91% share of total exports. It was followed by Taiwan (Chinese) (X tons), with a 1.6% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China stood at -10.8%.

In value terms, China ($X) remains the key foreign market for polyethylene in primary forms exports from Hong Kong SAR, comprising 88% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 2.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled -12.0%.

Export Prices by Country

In 2021, the average polyethylene in primary forms export price amounted to $X per ton, rising by 25% against the previous year. Overall, the export price, however, continues to indicate a slight decline. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-1.4%).

Imports of Polyethylene in Primary Forms

Imports into Hong Kong SAR, China

In 2021, approx. X tons of polyethylene in primary forms were imported into Hong Kong SAR; reducing by -19.1% compared with the year before. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 25% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, polyethylene in primary forms imports contracted slightly to $X in 2021. In general, imports recorded a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 33%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Saudi Arabia (X tons) and Singapore (X tons) were the main suppliers of polyethylene in primary forms imports to Hong Kong SAR, together accounting for 67% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +15.6%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), Saudi Arabia ($X) and Singapore ($X) constituted the largest polyethylene in primary forms suppliers to Hong Kong SAR, together accounting for 64% of total imports.

China, with a CAGR of +12.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average polyethylene in primary forms import price amounted to $X per ton, rising by 20% against the previous year. Over the period under review, the import price, however, recorded a mild reduction. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Singapore ($X per ton), while the price for Kuwait ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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