Hong Kong SAR, China: Borates Market 2024

Borates Market Size in Hong Kong SAR, China

In 2022, the Hong Kong borates market increased by X% to $X, rising for the third year in a row after three years of decline. Over the period under review, consumption, however, showed a abrupt downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Borates Production in Hong Kong SAR, China

In value terms, borates production reduced notably to $X in 2022 estimated in export price. Overall, production faced a precipitous setback. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Borates Exports

Exports from Hong Kong SAR, China

Borates exports from Hong Kong SAR declined dramatically to X tons in 2022, reducing by X% on the previous year's figure. Overall, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, borates exports contracted markedly to $X in 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for borates exports from Hong Kong SAR, with a X% share of total exports. Moreover, borates exports to Indonesia exceeded the volume sent to the second major destination, China (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, the largest markets for borates exported from Hong Kong SAR were Indonesia ($X), China ($X) and Taiwan (Chinese) ($X), together comprising X% of total exports. Japan lagged somewhat behind, accounting for a further X%.

Japan, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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 2022, the average borates export price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Indonesia ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Borates Imports

Imports into Hong Kong SAR, China

For the third consecutive year, Hong Kong SAR recorded growth in purchases abroad of borates, which increased by X% to X tons in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, borates imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest borates supplier to Hong Kong SAR, with a X% share of total imports. Moreover, borates imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of borates to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average borates import price amounted to $X per ton, waning by X% against the previous year. In general, the import price showed a abrupt descent. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, 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 Platform

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