Hong Kong SAR, China: Rare Gases Market 2024

Rare Gases Market Size in Hong Kong SAR, China

The Hong Kong rare gases market expanded markedly to $X in 2022, increasing by 14% against the previous year. In general, consumption saw a prominent expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Rare Gases Production in Hong Kong SAR, China

In value terms, rare gases production soared to $X in 2022 estimated in export price. In general, production showed a significant expansion. The growth pace was the most rapid in 2015 when the production volume increased by 120%. Rare gases production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Rare Gases Exports

Exports from Hong Kong SAR, China

In 2022, the amount of rare gases (excluding argon) exported from Hong Kong SAR soared to X cubic meters, increasing by 94% compared with the year before. Over the period under review, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 118%. As a result, the exports attained the peak of X cubic meters. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, rare gases exports skyrocketed to $X in 2022. In general, exports posted resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X cubic meters), the United States (X cubic meters) and South Korea (X cubic meters) were the main destinations of rare gases exports from Hong Kong SAR, with a combined 84% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +118.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rare gases exported from Hong Kong SAR were China ($X), the United States ($X) and South Korea ($X), together accounting for 84% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +137.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average rare gases export price stood at $X per cubic meter in 2022, with an increase of 8.9% against the previous year. In general, the export price showed a resilient increase. The pace of growth appeared the most rapid in 2019 an increase of 27%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per cubic meter) and Germany ($X per cubic meter), while the average price for exports to Singapore ($X per cubic meter) and France ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Gases Imports

Imports into Hong Kong SAR, China

In 2022, the amount of rare gases (excluding argon) imported into Hong Kong SAR surged to X cubic meters, growing by 73% compared with 2021. In general, imports recorded a modest increase. The pace of growth was the most pronounced in 2014 when imports increased by 105%. As a result, imports reached the peak of X cubic meters. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, rare gases imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2014 when imports increased by 121%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Singapore (X cubic meters), Russia (X cubic meters) and China (X cubic meters) were the main suppliers of rare gases imports to Hong Kong SAR, with a combined 59% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +96.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Russia ($X) and China ($X) constituted the largest rare gases suppliers to Hong Kong SAR, with a combined 62% share of total imports.

In terms of the main suppliers, Russia, with a CAGR of +111.9%, 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 rare gases import price stood at $X per cubic meter in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, saw a prominent expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 21% against the previous year. The import price peaked at $X per cubic meter in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for the United Arab Emirates ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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