Hong Kong SAR, China: Epoxide Resin Market 2024

Epoxide Resin Market Size in Hong Kong SAR, China

In 2022, the Hong Kong epoxide resin market decreased by X% to $X, falling for the second year in a row after three years of growth. Overall, consumption showed a abrupt descent. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Epoxide Resin Production in Hong Kong SAR, China

In value terms, epoxide resin production rose to $X in 2022 estimated in export price. Overall, production, however, showed a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Epoxide Resin Exports

Exports from Hong Kong SAR, China

In 2022, epoxide resin exports from Hong Kong SAR shrank significantly to X tons, reducing by X% on 2021 figures. Over the period under review, exports recorded a abrupt contraction. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, epoxide resin exports shrank markedly to $X in 2022. In general, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for epoxide resin exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, epoxide resin exports to China exceeded the volume sent to the second major destination, the United States (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Taiwan (Chinese) (X% per year).

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

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average epoxide resin export price amounted to $X per ton, falling by X% against the previous year. In general, export price indicated a buoyant increase from 2012 to 2022: its price 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, epoxide resin export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 mixed trend patterns.

Epoxide Resin Imports

Imports into Hong Kong SAR, China

In 2022, the amount of epoxide resins imported into Hong Kong SAR reduced markedly to X tons, which is down by X% against the year before. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, epoxide resin imports dropped rapidly to $X in 2022. Overall, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of epoxide resin to Hong Kong SAR, with a X% share of total imports. Moreover, epoxide resin imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, 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: Japan (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the largest epoxide resin suppliers to Hong Kong SAR were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising X% of total imports. The United States, China, Italy, Malaysia, the Netherlands and Germany lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Italy, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average epoxide resin import price amounted to $X per ton, with a decrease of X% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price 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, epoxide resin import price decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 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 the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform