Hong Kong SAR, China: Cyclic Hydrocarbons Market 2022

Cyclic Hydrocarbons Market Size in Hong Kong SAR, China

In 2021, the Hong Kong cyclic hydrocarbons market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a mild downturn. Cyclic hydrocarbons consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Cyclic Hydrocarbons Exports

Exports from Hong Kong SAR, China

In 2021, the amount of cyclic hydrocarbons exported from Hong Kong SAR soared to X tons, with an increase of X% compared with 2020 figures. Overall, exports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cyclic hydrocarbons exports surged to $X in 2021. In general, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2019 when exports increased by X%. 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 cyclic hydrocarbons exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, cyclic hydrocarbons exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), fivefold.

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

In value terms, China ($X) remains the key foreign market for cyclic hydrocarbons exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Macao SAR ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-X% per year) and Australia (X% per year).

Export Prices by Country

In 2021, the average cyclic hydrocarbons export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price recorded buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR ($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 China (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Cyclic Hydrocarbons Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of cyclic hydrocarbons increased by X% to X tons, rising for the fourth year in a row after five years of decline. Overall, imports, however, recorded a slight downturn. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a slight descent. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest cyclic hydrocarbons supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, cyclic hydrocarbons imports from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+X% per year) and China (+X% per year).

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

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+X% per year) and China (+X% per year).

Import Prices by Country

The average cyclic hydrocarbons import price stood at $X per ton in 2021, growing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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