Hong Kong SAR, China: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in Hong Kong SAR, China

The Hong Kong unsaturated acyclic hydrocarbons market was finally on the rise to reach $X in 2021, after four years of decline. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Unsaturated Acyclic Hydrocarbons Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of unsaturated acyclic hydrocarbons increased by 230% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 302%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsaturated acyclic hydrocarbons exports skyrocketed to $X in 2021. Over the period under review, exports saw resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 107%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for unsaturated acyclic hydrocarbons exports from Hong Kong SAR, accounting for a 64% share of total exports. Moreover, unsaturated acyclic hydrocarbons exports to Malaysia exceeded the volume sent to the second major destination, China (X tons), threefold. Thailand (X tons) ranked third in terms of total exports with a 9% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-3.5% per year) and Thailand (0.0% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for unsaturated acyclic hydrocarbons exports from Hong Kong SAR, comprising 64% of total exports. The second position in the ranking was taken by China ($X), with a 29% share of total exports. It was followed by Thailand, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-6.7% per year) and Thailand (0.0% per year).

Export Prices by Country

The average unsaturated acyclic hydrocarbons export price stood at $X per ton in 2021, shrinking by -38.5% against the previous year. In general, the export price recorded a deep setback. The pace of growth was the most pronounced in 2016 when the average export price increased by 145%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Thailand ($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 the United States (+217.1%), while the prices for the other major destinations experienced a decline.

Unsaturated Acyclic Hydrocarbons Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of unsaturated acyclic hydrocarbons was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, unsaturated acyclic hydrocarbons imports skyrocketed to $X in 2021. In general, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +76.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of unsaturated acyclic hydrocarbons to Hong Kong SAR, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +2.5%.

In value terms, China ($X) constituted the largest supplier of unsaturated acyclic hydrocarbons to Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +6.7%.

Import Prices by Country

In 2021, the average unsaturated acyclic hydrocarbons import price amounted to $X per ton, with an increase of 21% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsaturated acyclic hydrocarbons import price increased by +65.4% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 28% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +4.1% per year.

Source: IndexBox Platform

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