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

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

The Hong Kong polypropylene in primary forms market fell to $X in 2022, reducing by -4% against the previous year. Overall, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +28.8% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

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

In value terms, polypropylene in primary forms production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 59%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Polypropylene in Primary Forms

Exports from Hong Kong SAR, China

For the tenth consecutive year, Hong Kong SAR recorded decline in shipments abroad of polypropylene in primary forms, which decreased by -61.3% to X tons in 2022. Overall, exports recorded a deep slump. The smallest decline of -1.2% was in 2016. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, polypropylene in primary forms exports declined dramatically to $X in 2022. Over the period under review, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 5%. Over the period under review, the exports hit record highs 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 polypropylene in primary forms exports from Hong Kong SAR, accounting for a 92% share of total exports. It was followed by Vietnam (X tons), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China stood at -16.6%.

In value terms, China ($X) remains the key foreign market for polypropylene in primary forms exports from Hong Kong SAR, comprising 93% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 2.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China amounted to -16.5%.

Export Prices by Country

The average polypropylene in primary forms export price stood at $X per ton in 2022, rising by 3.3% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+1.2%).

Imports of Polypropylene in Primary Forms

Imports into Hong Kong SAR, China

For the tenth year in a row, Hong Kong SAR recorded decline in purchases abroad of polypropylene in primary forms, which decreased by -60.6% to X tons in 2022. Overall, imports showed a abrupt descent. The smallest decline of -0.6% was in 2020. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, polypropylene in primary forms imports fell remarkably to $X in 2022. In general, imports recorded a abrupt decline. The growth pace was the most rapid in 2021 when imports increased by 10%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Korea (X tons), Taiwan (Chinese) (X tons) and China (X tons) were the main suppliers of polypropylene in primary forms imports to Hong Kong SAR, together accounting for 62% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -8.0%), while imports for the other leaders experienced a decline.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and China ($X) appeared to be the largest polypropylene in primary forms suppliers to Hong Kong SAR, together accounting for 60% of total imports.

In terms of the main suppliers, China, with a CAGR of -10.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average polypropylene in primary forms import price stood at $X per ton in 2022, approximately reflecting the previous year. In general, the import price saw a slight downturn. The growth pace was the most rapid in 2021 an increase of 24%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Singapore ($X per ton) and Thailand ($X per ton), while the price for Saudi Arabia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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