Report Update Nov 1, 2024

Hong Kong SAR, China - Urea - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Urea Market 2024

Urea Market Size in Hong Kong SAR, China

The Hong Kong urea market fell notably to $X in 2022, with a decrease of -74% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a prominent expansion. As a result, consumption reached the peak level of $X, and then dropped markedly in the following year.

Urea Exports

Exports from Hong Kong SAR, China

After two years of growth, shipments abroad of urea decreased by -16.4% to X tons in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 464%. As a result, the exports reached the peak of X tons, and then fell significantly in the following year.

In value terms, urea exports surged to $X in 2022. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 889%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Macao SAR (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of urea exports from Hong Kong SAR, together accounting for 67% of total exports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +82.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for urea exported from Hong Kong SAR were South Korea ($X), Japan ($X) and Australia ($X), together comprising 71% of total exports.

Japan, with a CAGR of +117.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average urea export price stood at $X per ton in 2022, rising by 49% against the previous year. In general, the export price showed a resilient expansion. The pace of growth appeared the most rapid in 2021 when the average export price increased by 75%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+35.3%), while the prices for the other major destinations experienced more modest paces of growth.

Urea Imports

Imports into Hong Kong SAR, China

Urea imports into Hong Kong SAR dropped rapidly to X tons in 2022, waning by -73.2% against the previous year. Over the period under review, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 251% against the previous year. As a result, imports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, urea imports fell significantly to $X in 2022. In general, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 306%. As a result, imports attained the peak of $X, and then fell rapidly in the following year.

Imports by Country

In 2022, China (X tons) was the main urea supplier to Hong Kong SAR, with a 94% share of total imports. It was followed by Taiwan (Chinese) (X tons), with a 0.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +22.1%.

In value terms, China ($X) constituted the largest supplier of urea to Hong Kong SAR, comprising 84% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 0.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +11.3%.

Import Prices by Country

The average urea import price stood at $X per ton in 2022, growing by 5.3% against the previous year. Over the period under review, the import price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2021 when the average import price increased by 16%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.8%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for urea in the world?

The country with the largest volume of urea consumption was India, accounting for 26% of total volume. Moreover, urea consumption in India exceeded the figures recorded by the second-largest consumer, China, threefold. The third position in this ranking was occupied by the United States, with a 5.9% share.

What are the largest producers of urea in the world?

The countries with the highest volumes of urea production in 2021 were India, China and Russia, with a combined 41% share of global production. These countries were followed by Iran, Indonesia, Pakistan, Qatar, Saudi Arabia, Oman, Canada, the United Arab Emirates, Algeria and Vietnam, which together accounted for a further 39%.

What are the leading suppliers of urea to Hong Kong SAR, China?

In value terms, Germany, Malaysia and Latvia appeared to be the largest urea suppliers to Hong Kong SAR, with a combined 80% share of total imports.

What are the leading importers of urea from Hong Kong SAR, China?

It was followed by the UK, with a 17% share.

What is the average export price for urea in Hong Kong SAR, China?

In 2021, the average urea export price amounted to $489 per ton, increasing by 43% against the previous year.

What is the average import price for urea in Hong Kong SAR, China?

The average urea import price stood at $598 per ton in 2021, picking up by 12% against the previous year.

This report provides an in-depth analysis of the urea market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4001 -

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023