Hong Kong SAR, China: Wood Charcoal Market 2024

Wood Charcoal Market Size in Hong Kong SAR, China

The Hong Kong wood charcoal market rose significantly to $X in 2021, picking up by 14% against the previous year. Overall, consumption showed a noticeable downturn. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Wood Charcoal Production in Hong Kong SAR, China

In value terms, wood charcoal production soared to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the production volume increased by 107% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Wood Charcoal Exports

Exports from Hong Kong SAR, China

Wood charcoal exports from Hong Kong SAR surged to X tons in 2021, with an increase of 24% on 2020. Overall, exports, however, showed a significant decline. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood charcoal exports soared to $X in 2021. In general, exports, however, showed a sharp reduction. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for wood charcoal exports from Hong Kong SAR, with a 58% share of total exports. Moreover, wood charcoal exports to Macao SAR exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was held by Japan (X tons), with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume to Macao SAR amounted to -10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-0.3% per year) and Japan (-24.0% per year).

In value terms, Macao SAR ($X), Japan ($X) and Vietnam ($X) were the largest markets for wood charcoal exported from Hong Kong SAR worldwide, together comprising 98% of total exports. The United States lagged somewhat behind, accounting for a further 2.4%.

The United States, with a CAGR of +10.3%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average wood charcoal export price stood at $X per ton in 2021, jumping by 34% against the previous year. In general, the export price, however, continues to indicate a perceptible downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Vietnam ($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 Japan (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Charcoal Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of wood charcoal were imported into Hong Kong SAR; waning by -6.8% compared with 2020. In general, imports saw a abrupt slump. The pace of growth was the most pronounced in 2020 with an increase of 20%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, wood charcoal imports declined dramatically to $X in 2021. Overall, imports saw a deep setback. The pace of growth appeared the most rapid in 2018 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest wood charcoal supplier to Hong Kong SAR, with a 66% share of total imports. Moreover, wood charcoal imports from Indonesia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. The third position in this ranking was taken by Vietnam (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-12.7% per year) and Vietnam (-3.7% per year).

In value terms, Indonesia ($X) constituted the largest supplier of wood charcoal to Hong Kong SAR, comprising 58% of total imports. The second position in the ranking was taken by Thailand ($X), with an 11% share of total imports. It was followed by China, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from Indonesia stood at -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-13.3% per year) and China (-19.4% per year).

Import Prices by Country

In 2021, the average wood charcoal import price amounted to $X per ton, waning by -19.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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