Hong Kong SAR, China: Linseed Oil Market 2024

Linseed Oil Market Size in Hong Kong SAR, China

In 2022, the Hong Kong linseed oil market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. Overall, consumption, however, recorded a pronounced expansion. Over the period under review, the market attained the peak level at $X in 2021, and then reduced modestly in the following year.

Linseed Oil Production in Hong Kong SAR, China

In value terms, linseed oil production reached $X in 2022 estimated in export price. In general, the total production indicated a moderate increase 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Linseed Oil Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of linseed oil increased by X% to X tons, rising for the second year in a row after four years of decline. In general, exports, however, faced a precipitous setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, linseed oil exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt decrease. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for linseed oil exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, linseed oil exports to China exceeded the volume sent to the second major destination, Nigeria (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%.

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

From 2012 to 2022, the average annual growth rate of value to China stood at X%.

Export Prices by Country

The average linseed oil export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price showed a significant increase. The growth pace was the most rapid in 2018 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%).

Linseed Oil Imports

Imports into Hong Kong SAR, China

In 2022, the amount of linseed oil imported into Hong Kong SAR shrank dramatically to X tons, falling by X% compared with 2021. In general, imports saw a sharp decline. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, linseed oil imports contracted to $X in 2022. Overall, imports saw a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), New Zealand (X tons) and Italy (X tons) were the main suppliers of linseed oil imports to Hong Kong SAR, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of linseed oil to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports. It was followed by the UK, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and the UK (X% per year).

Import Prices by Country

In 2022, the average linseed oil import price amounted to $X per ton, surging by X% against the previous year. In general, the import price showed a remarkable increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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 ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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