Hong Kong SAR, China: Wood Pellets Market 2023

Wood Pellets Market Size in Hong Kong SAR, China

The Hong Kong wood pellets market fell remarkably to $X in 2021, shrinking by -89.3% against the previous year. Overall, consumption recorded a abrupt contraction. As a result, consumption attained the peak level of $X, and then fell dramatically in the following year.

Wood Pellets Production in Hong Kong SAR, China

In value terms, wood pellets production totaled less than $X in 2021 estimated in export price. Over the period under review, production showed a abrupt slump. The growth pace was the most rapid in 2014 when the production volume increased by 123% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Wood Pellets Exports

Exports from Hong Kong SAR, China

In 2021, approx. X tons of wood pellets were exported from Hong Kong SAR; surging by 2.4% compared with the year before. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 3,470%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood pellets exports amounted to $X in 2021. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 3,341%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of wood pellets exports from Hong Kong SAR.

From 2012 to 2021, the biggest increases were in Japan (with a CAGR of +170.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood pellets exported from Hong Kong SAR were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X).

Japan, with a CAGR of +90.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wood pellets export price amounted to $X per ton, which is down by -2.3% against the previous year. Over the period under review, the export price saw a abrupt slump. The growth pace was the most rapid in 2018 when the average export price decreased by -1.8% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 South Korea (-5.3%), while the prices for the other major destinations experienced a decline.

Wood Pellets Imports

Imports into Hong Kong SAR, China

After two years of growth, supplies from abroad of wood pellets decreased by -93.8% to X tons in 2021. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2020 when imports increased by 378% against the previous year. As a result, imports reached the peak of X tons, and then declined markedly in the following year.

In value terms, wood pellets imports shrank remarkably to $X in 2021. Overall, imports faced a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 76%. As a result, imports reached the peak of $X, and then reduced sharply in the following year.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of wood pellets to Hong Kong SAR, with a 56% share of total imports. Moreover, wood pellets imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), sixfold. Ukraine (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled -12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-13.1% per year) and Ukraine (+4.0% per year).

In value terms, Germany ($X) constituted the largest supplier of wood pellets to Hong Kong SAR, comprising 76% of total imports. The second position in the ranking was held by Poland ($X), with a 4.2% share of total imports. It was followed by Ukraine, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled -13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-16.6% per year) and Ukraine (+6.3% per year).

Import Prices by Country

The average wood pellets import price stood at $X per ton in 2021, growing by 115% against the previous year. Over the period under review, the import price, however, showed a perceptible slump. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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