Hong Kong SAR, China: Propene Market 2024

Propene Market Size in Hong Kong SAR, China

The Hong Kong propene market totaled $X in 2021, rising by 10% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Propene Production in Hong Kong SAR, China

In value terms, propene production rose remarkably to $X in 2021 estimated in export price. Overall, the total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 55% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Propene Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of propene (propylene) were finally on the rise to reach X tons after two years of decline. In general, exports, however, saw a pronounced descent. The growth pace was the most rapid in 2018 with an increase of 863% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, propene exports expanded sharply to $X in 2021. Overall, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 580%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Zimbabwe (X tons) was the main destination for propene exports from Hong Kong SAR, accounting for a 51% share of total exports. Moreover, propene exports to Zimbabwe exceeded the volume sent to the second major destination, Indonesia (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Zimbabwe was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+3.7% per year) and China (-46.5% per year).

In value terms, Zimbabwe ($X), Indonesia ($X) and China ($X) were the largest markets for propene exported from Hong Kong SAR worldwide, with a combined 45% share of total exports.

Among the main countries of destination, Indonesia, with a CAGR of +3.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average propene export price stood at $X per ton in 2021, with a decrease of -40.4% against the previous year. Overall, the export price showed a perceptible downturn. The pace of growth was the most pronounced in 2014 an increase of 63% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then dropped notably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (-0.5%).

Propene Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of propene (propylene) were imported into Hong Kong SAR; with an increase of 22% against 2020 figures. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 460% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, propene imports skyrocketed to $X in 2021. Overall, imports recorded significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 1,623% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of propene to Hong Kong SAR, with a 52% share of total imports. Moreover, propene imports from Canada exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was held by China (X tons), with a 22% share.

From 2012 to 2021, the average annual growth rate of volume from Canada amounted to +37.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+57.5% per year) and China (+104.7% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and Canada ($X) constituted the largest propene suppliers to Hong Kong SAR, together comprising 93% of total imports.

Among the main suppliers, China, with a CAGR of +115.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average propene import price stood at $X per ton in 2021, with a decrease of -4.4% against the previous year. In general, the import price, however, recorded resilient growth. The pace of growth was the most pronounced in 2013 an increase of 208% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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