Hong Kong SAR, China: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Hong Kong SAR, China

In 2022, the Hong Kong chemically modified oils market decreased by X% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption continues to indicate a abrupt slump. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Chemically Modified Oils Production in Hong Kong SAR, China

In value terms, chemically modified oils production surged to $X in 2022 estimated in export price. In general, production, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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Chemically Modified Oils Exports

Exports from Hong Kong SAR, China

Chemically modified oils exports from Hong Kong SAR expanded notably to X tons in 2022, increasing by X% compared with 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, chemically modified oils exports soared to $X in 2022. Over the period under review, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Malaysia (X tons) was the main destination for chemically modified oils exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, chemically modified oils exports to Malaysia exceeded the volume sent to the second major destination, Portugal (X tons), sixfold. The third position in this ranking was taken by Spain (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Spain (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for animal or vegetable fats and oils chemically modified exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Portugal ($X), with an X% share of total exports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Spain (X% per year).

Export Prices by Country

In 2022, the average chemically modified oils export price amounted to $X per ton, surging by X% against the previous year. In general, the export price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Portugal ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of animal or vegetable fats and oils chemically modified decreased by X% to X tons, falling for the third consecutive year after four years of growth. Overall, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, chemically modified oils imports reduced to $X in 2022. Over the period under review, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest chemically modified oils supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, chemically modified oils imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was held by Macao SAR (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Macao SAR (X% per year).

In value terms, China ($X) constituted the largest supplier of animal or vegetable fats and oils chemically modified to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Vietnam (X% per year).

Import Prices by Country

The average chemically modified oils import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable slump. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. 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 South Korea ($X per ton), while the price for Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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