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Hong Kong SAR, China - Methanal (Formaldehyde) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingFormaldehyde Imports in Hong Kongs Drop by 20% to $751K in 2023
Hong Kong Formaldehyde Imports
In 2023, approx. 1,000 tons of formaldehyde were imported into Hong Kong; increasing by 203% on 2022. In general, imports saw resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, formaldehyde imports declined significantly to $751K (IndexBox estimates) in 2023. Over the period under review, imports enjoyed resilient growth. The growth pace was the most rapid in 2015 when imports increased by 84% against the previous year. Over the period under review, imports reached the maximum at $941K in 2022, and then declined remarkably in the following year.
COUNTRY | Import Value of Formaldehyde in Hong Kong (thousand USD) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
China | 182 | 170 | 317 | 400 | 477 | 382 | 395 | 366 | 437 | 66.6 | 696 |
Taiwan (Chinese) | 43.3 | 28.0 | 44.6 | 27.3 | 46.4 | 46.4 | 24.8 | 18.6 | 22.4 | 22.2 | 55.3 |
United States | N/A | N/A | N/A | N/A | 5.9 | 6.2 | 5.8 | N/A | 247 | 851 | N/A |
Others | 2.0 | N/A | 2.2 | 2.7 | 1.6 | 2.3 | N/A | N/A | N/A | 1.5 | N/A |
Total | 227 | 198 | 364 | 430 | 530 | 437 | 426 | 385 | 706 | 941 | 751 |
Imports by Country
In 2023, China (927 tons) was the main formaldehyde supplier to Hong Kong, accounting for a 93% share of total imports. Moreover, formaldehyde imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (73 tons), more than tenfold.
From 2013 to 2023, the average annual rate of growth in terms of volume from China totaled +19.9%.
In value terms, China ($696K) constituted the largest supplier of formaldehyde to Hong Kong, comprising 93% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($55K), with a 7.4% share of total imports.
From 2013 to 2023, the average annual rate of growth in terms of value from China stood at +14.3%.
Import Prices by Country
In 2023, the formaldehyde price amounted to $752 per ton (CIF, Hong Kong), shrinking by -73.7% against the previous year. Over the period under review, the import price recorded a pronounced setback. The pace of growth appeared the most rapid in 2022 when the average import price increased by 170%. As a result, import price attained the peak level of $2,855 per ton, and then declined significantly in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Taiwan (Chinese) ($762 per ton), while the price for China totaled $751 per ton.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the United States (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.
This report provides an in-depth analysis of the formaldehyde market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20146111 - Methanal (formaldehyde)
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023