Hong Kong SAR, China: Market for Unsaturated Polyesters In Primary Forms 2024

Market Size for Unsaturated Polyesters In Primary Forms in Hong Kong SAR, China

The Hong Kong market for unsaturated polyesters in primary forms reached $X in 2021, approximately mirroring the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Unsaturated Polyesters In Primary Forms in Hong Kong SAR, China

In value terms, unsaturated polyesters in primary forms production reached $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 66%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Unsaturated Polyesters In Primary Forms

Exports from Hong Kong SAR, China

In 2021, after eight years of decline, there was growth in shipments abroad of unsaturated polyesters in primary forms, when their volume increased by 3.2% to X tons. Over the period under review, exports, however, saw a abrupt curtailment. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, unsaturated polyesters in primary forms exports reached $X in 2021. In general, exports, however, saw a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for unsaturated polyesters in primary forms exports from Hong Kong SAR, with a approx. 98% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -17.7%.

In value terms, China ($X) also remains the key foreign market for unsaturated polyesters in primary forms exports from Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -12.2%.

Export Prices by Country

In 2021, the average export price for unsaturated polyesters in primary forms amounted to $X per ton, surging by 7% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsaturated polyesters in primary forms export price increased by +91.2% against 2014 indices. The most prominent rate of growth was recorded in 2017 an increase of 32%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in years to come.

As there is only one major export destination, 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 +6.7% per year.

Imports of Unsaturated Polyesters In Primary Forms

Imports into Hong Kong SAR, China

In 2021, purchases abroad of unsaturated polyesters in primary forms was finally on the rise to reach X tons after seven years of decline. Overall, imports, however, showed a deep setback. The pace of growth was the most pronounced in 2013 when imports increased by 18%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, unsaturated polyesters in primary forms imports rose sharply to $X in 2021. In general, imports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2015 with an increase of 8.8% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and Japan (X tons) were the main suppliers of unsaturated polyesters in primary forms imports to Hong Kong SAR, with a combined 73% share of total imports. India, South Korea, Malaysia, the United States and Australia lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +60.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest unsaturated polyesters in primary forms suppliers to Hong Kong SAR were Japan ($X), China ($X) and Taiwan (Chinese) ($X), together comprising 81% of total imports. These countries were followed by India, South Korea, the United States, Australia and Malaysia, which together accounted for a further 16%.

India, with a CAGR of +66.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for unsaturated polyesters in primary forms amounted to $X per ton, increasing by 5.4% against the previous year. Over the last nine years, it increased at an average annual rate of +4.1%. The growth pace was the most rapid in 2020 an increase of 14% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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