Hong Kong SAR, China: Organic Pigments Market 2024

Organic Pigments Market Size in Hong Kong SAR, China

The Hong Kong organic pigments market amounted to $X in 2021, with an increase of 11% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Organic pigments consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Organic Pigments Production in Hong Kong SAR, China

In value terms, organic pigments production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 26%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Organic Pigments Exports

Exports from Hong Kong SAR, China

For the ninth year in a row, Hong Kong SAR recorded decline in shipments abroad of synthetic organic coloring matter and pigments, which decreased by -17.8% to X tons in 2021. Overall, exports recorded a abrupt slump. The smallest decline of -4.3% was in 2018. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, organic pigments exports fell to $X in 2021. In general, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 2.7%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for organic pigments exports from Hong Kong SAR, accounting for a 79% share of total exports. Moreover, organic pigments exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), ninefold. India (X tons) ranked third in terms of total exports with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled -15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-5.4% per year) and India (+0.3% per year).

In value terms, China ($X) remains the key foreign market for synthetic organic coloring matter and pigments exports from Hong Kong SAR, comprising 70% of total exports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total exports. It was followed by India, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+6.2% per year) and India (+7.5% per year).

Export Prices by Country

In 2021, the average organic pigments export price amounted to $X per ton, growing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The growth pace was the most rapid in 2019 an increase of 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($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 South Korea (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into Hong Kong SAR, China

In 2021, organic pigments imports into Hong Kong SAR shrank modestly to X tons, approximately mirroring 2020 figures. Overall, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of 0.2%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, organic pigments imports dropped to $X in 2021. In general, imports faced a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 2.1%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Japan (X tons) were the main suppliers of organic pigments imports to Hong Kong SAR, together accounting for 54% of total imports. These countries were followed by Taiwan (Chinese), Belgium, Spain, the United States, Singapore, Indonesia, Thailand, South Korea, Germany and the Netherlands, which together accounted for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of -0.9%), while imports for the other leaders experienced a decline.

In value terms, Japan ($X), China ($X) and India ($X) were the largest organic pigments suppliers to Hong Kong SAR, with a combined 63% share of total imports. These countries were followed by Belgium, Taiwan (Chinese), the United States, Singapore, Indonesia, Germany, Spain, Thailand, South Korea and the Netherlands, which together accounted for a further 35%.

Belgium, with a CAGR of +1.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average organic pigments import price stood at $X per ton in 2021, declining by -2.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 12% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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 Japan ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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