Hong Kong SAR, China: Market for Polyethylene Glycols and Polyethers in Primary Forms 2023

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Hong Kong SAR, China

In 2021, the Hong Kong polyethylene glycol and polyether market increased by 21% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Production of Polyethylene Glycols and Polyethers in Primary Forms in Hong Kong SAR, China

In value terms, polyethylene glycol and polyether production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2013 with an increase of 13%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Hong Kong SAR, China

Polyethylene glycol and polyether exports from Hong Kong SAR contracted markedly to X tons in 2021, with a decrease of -16% compared with 2020. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 383% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, polyethylene glycol and polyether exports shrank to $X in 2021. Overall, exports faced a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by 580%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for polyethylene glycol and polyether exports from Hong Kong SAR, accounting for a 88% share of total exports. Moreover, polyethylene glycol and polyether exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+1.9% per year) and Cambodia (+9.6% per year).

In value terms, China ($X) remains the key foreign market for polyethylene glycols and polyethers in primary forms exports from Hong Kong SAR, comprising 90% of total exports. The second position in the ranking was held by Vietnam ($X), with a 2.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China totaled -11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+3.0% per year) and Cambodia (+3.9% per year).

Export Prices by Country

The average polyethylene glycol and polyether export price stood at $X per ton in 2021, with an increase of 3.9% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyethylene glycol and polyether export price increased by +127.6% against 2015 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 41%. The export price peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Cambodia ($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 (+4.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Hong Kong SAR, China

In 2021, approx. X tons of polyethylene glycols and polyethers in primary forms were imported into Hong Kong SAR; falling by -16% against 2020 figures. In general, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of 5.7%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, polyethylene glycol and polyether imports amounted to $X in 2021. Overall, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 9.6%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of polyethylene glycol and polyether imports to Hong Kong SAR, together comprising 61% of total imports. These countries were followed by the United States, Thailand, Taiwan (Chinese), Singapore and Germany, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +7.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of polyethylene glycols and polyethers in primary forms to Hong Kong SAR, comprising 35% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-3.6% per year) and Japan (-7.8% per year).

Import Prices by Country

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, rising by 19% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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