Hong Kong SAR, China: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Hong Kong SAR, China

The Hong Kong propyl and isopropyl alcohol market expanded sharply to $X in 2022, with an increase of 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a measured increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports from Hong Kong SAR, China

For the third year in a row, Hong Kong SAR recorded decline in shipments abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), which decreased by -31.2% to X tons in 2022. In general, exports recorded a sharp contraction. The most prominent rate of growth was recorded in 2019 with an increase of 73% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol exports dropped sharply to $X in 2022. Over the period under review, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2017 when exports increased by 49%. 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 propyl and isopropyl alcohol exports from Hong Kong SAR, with a 96% share of total exports. Moreover, propyl and isopropyl alcohol exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -20.1%.

In value terms, China ($X) remains the key foreign market for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports from Hong Kong SAR, comprising 98% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 2.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled -17.5%.

Export Prices by Country

In 2022, the average propyl and isopropyl alcohol export price amounted to $X per ton, growing by 16% against the previous year. In general, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propyl and isopropyl alcohol export price increased by +61.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 32%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports into Hong Kong SAR, China

Propyl and isopropyl alcohol imports into Hong Kong SAR expanded significantly to X tons in 2022, surging by 12% on the previous year's figure. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 119% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports rose rapidly to $X in 2022. Over the period under review, imports, however, saw a mild setback. The pace of growth appeared the most rapid in 2020 when imports increased by 145%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of propyl and isopropyl alcohol to Hong Kong SAR, accounting for a 63% share of total imports. Moreover, propyl and isopropyl alcohol imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea stood at +44.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.9% per year) and Taiwan (Chinese) (-12.7% per year).

In value terms, South Korea ($X) constituted the largest supplier of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) to Hong Kong SAR, comprising 60% of total imports. The second position in the ranking was taken by China ($X), with a 22% share of total imports. It was followed by the UK, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea stood at +41.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.4% per year) and the UK (+19.0% per year).

Import Prices by Country

In 2022, the average propyl and isopropyl alcohol import price amounted to $X per ton, dropping by -2% against the previous year. Overall, the import price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 24%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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