Hong Kong SAR, China: Silicon Dioxide Market 2024

Silicon Dioxide Market Size in Hong Kong SAR, China

In 2021, the Hong Kong silicon dioxide market increased by 26% to $X, rising for the second year in a row after two years of decline. In general, consumption enjoyed a temperate increase. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Silicon Dioxide Exports

Exports from Hong Kong SAR, China

After two years of decline, overseas shipments of silicon dioxide increased by 22% to X tons in 2021. Overall, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 57%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, silicon dioxide exports declined remarkably to $X in 2021. In general, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2018 when exports increased by 18% against the previous year. Over the period under review, the exports hit record highs 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 silicon dioxide exports from Hong Kong SAR, accounting for a 95% share of total exports. It was followed by Malaysia (X tons), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China totaled -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+866.5% per year) and the Philippines (-4.7% per year).

In value terms, China ($X) remains the key foreign market for silicon dioxide exports from Hong Kong SAR, comprising 97% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China totaled -12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+0.3% per year) and Malaysia (+48.3% per year).

Export Prices by Country

In 2021, the average silicon dioxide export price amounted to $X per ton, dropping by -35.9% against the previous year. Over the period under review, the export price saw a slight contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 59%. The export price peaked at $X per ton in 2020, and then contracted remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($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 Vietnam (+20.3%), while the prices for the other major destinations experienced mixed trend patterns.

Silicon Dioxide Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of silicon dioxide increased by 42% to X tons, rising for the second year in a row after two years of decline. In general, imports showed a mild expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 195% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, silicon dioxide imports expanded slightly to $X in 2021. Overall, imports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2014 with an increase of 30% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of silicon dioxide to Hong Kong SAR, with a 76% share of total imports. Moreover, silicon dioxide imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. The Netherlands (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.8% per year) and the Netherlands (-3.7% per year).

In value terms, Japan ($X) constituted the largest supplier of silicon dioxide to Hong Kong SAR, comprising 59% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by the Netherlands, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.0% per year) and the Netherlands (+7.7% per year).

Import Prices by Country

In 2021, the average silicon dioxide import price amounted to $X per ton, with a decrease of -26.5% against the previous year. Overall, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 41%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+38.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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