Report Update: Apr 1, 2024

Hong Kong SAR, China - Acrylic Acid And Its Salts And Other Monocarboxylic Acid - Market Analysis, Forecast, Size, Trends And Insights

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Monocarboxylic Acid Price in Hong Kong SAR - 2023

Monocarboxylic Acid Price in Hong Kong SAR (FOB) - 2022

In 2022, the average monocarboxylic acid export price amounted to $57,375 per ton, growing by 453% against the previous year. Overall, the export price posted a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($426,792 per ton), while the average price for exports to China ($9,155 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 France (+30.4%), while the prices for the other major destinations experienced more modest paces of growth.

Monocarboxylic Acid Price in Hong Kong SAR (CIF) - 2022

In 2022, the average monocarboxylic acid import price amounted to $12,238 per ton, increasing by 9.3% against the previous year. Overall, the import price enjoyed a buoyant expansion. The growth pace was the most rapid in 2018 when the average import price increased by 74%. As a result, import price attained the peak level of $12,864 per ton. From 2019 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($37,576 per ton), while the price for Belgium ($7,732 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+31.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Monocarboxylic Acid Exports in Hong Kong SAR

In 2022, exports of acrylic acid and its salts and other monocarboxylic acid from Hong Kong SAR fell notably to 3.8 tons, reducing by -91.6% compared with the previous year's figure. In general, exports saw a precipitous setback. The pace of growth appeared the most rapid in 2021 with an increase of 147% against the previous year.

In value terms, monocarboxylic acid exports declined sharply to $221K in 2022. Over the period under review, exports faced a dramatic descent. The most prominent rate of growth was recorded in 2021 when exports increased by 45%.

Export of Monocarboxylic Acid in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	N/A	29.4	2.2	30.7	2.2%
Taiwan (Chinese)	259	61.5	60.8	30.5	-51.0%
India	N/A	20.0	19.1	29.5	21.4%
France	N/A	4.5	2.0	16.0	88.6%
China	240	137	338	13.8	-61.4%
Japan	87.9	1.4	3.2	N/A	-80.9%
Cambodia	8.4	N/A	N/A	N/A	0%
Others	1.9	72.1	47.0	100	274.8%
Total	597	326	473	221	-28.2%

Top Export Markets for Monocarboxylic Acid from Hong Kong SAR in 2022:

Taiwan (Chinese) (1574.0 kg)
China (1511.0 kg)
France (331.0 kg)
India (267.0 kg)
United States (72.0 kg)

Monocarboxylic Acid Imports in Hong Kong SAR

In 2022, the amount of acrylic acid and its salts and other monocarboxylic acid imported into Hong Kong SAR contracted sharply to 26 tons, with a decrease of -27.9% against the previous year's figure. Overall, imports showed a dramatic shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by 38% against the previous year.

In value terms, monocarboxylic acid imports dropped significantly to $320K in 2022. Over the period under review, imports faced a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 90%.

Import of Monocarboxylic Acid in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	60.5	95.1	99.8	108	21.3%
Germany	64.0	56.4	49.4	81.3	8.3%
United States	19.9	5.3	2.3	69.4	51.6%
Belgium	N/A	43.3	45.7	46.4	3.5%
Italy	N/A	N/A	N/A	14.8	0%
South Korea	215	0.1	109	0.1	-92.3%
Netherlands	189	N/A	46.2	N/A	-50.6%
Others	12.2	14.1	54.4	N/A	111.2%
Total	561	214	406	320	-17.1%

Top Suppliers of Monocarboxylic Acid to Hong Kong SAR in 2022:

South Korea (undefined tons)
China (9.6 tons)
Germany (8.0 tons)
Belgium (6.0 tons)
United States (1.8 tons)
Italy (0.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the monocarboxylic acid 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:

Prodcom 20143310 - Acrylic acid and its salts and other monocarboxylic acid

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