Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR (FOB) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR (CIF) - 2022
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $1,234 per ton in 2022, increasing by 66% against the previous year. In general, the export price recorded a noticeable expansion. As a result, the export price reached the peak level and is likely to continue 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 North Macedonia ($1,683 per ton), while the average price for exports to Denmark ($922 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+30.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $926 per ton in 2022, reducing by -43.8% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The pace of growth was the most pronounced in 2019 when the average import price increased by 696% against the previous year. Over the period under review, average import prices hit record highs at $1,883 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.
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 UK ($3,717 per ton), while the price for China amounted to $638 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-3.0%).
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR
Exports of acids; saturated acyclic monocarboxylic acids; formic acids from Hong Kong SAR declined remarkably to 548 tons in 2022, reducing by -84.6% against the previous year's figure. In general, exports faced a dramatic contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 29% against the previous year. As a result, the exports attained the peak of 3.6K tons, and then contracted remarkably in the following year.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids declined markedly to $677K in 2022. Overall, exports showed a precipitous descent. The most prominent rate of growth was recorded in 2021 with an increase of 83%. As a result, the exports reached the peak of $2.7M, and then fell markedly in the following year.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 257 | 93.5 | 677 | 262 | 0.6% |
| Denmark | 71.9 | 623 | 917 | 177 | 35.0% |
| Malaysia | 42.6 | 253 | 550 | 141 | 49.0% |
| Brazil | 321 | 68.3 | 118 | 53.2 | -45.1% |
| North Macedonia | N/A | N/A | N/A | 36.4 | 0% |
| Netherlands | 731 | 246 | 145 | 0.1 | -94.8% |
| Sri Lanka | N/A | 68.8 | 19.0 | N/A | -72.4% |
| South Africa | N/A | N/A | 53.5 | N/A | 0% |
| Others | 153 | 96.1 | 176 | 7.0 | -64.2% |
| Total | 1,576 | 1,449 | 2,654 | 677 | -24.5% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from Hong Kong SAR in 2022:
- Denmark (192.0 tons)
- India (176.9 tons)
- Malaysia (100.8 tons)
- Brazil (51.6 tons)
- North Macedonia (21.6 tons)
- Netherlands (0.1 tons)
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR
Imports of acids; saturated acyclic monocarboxylic acids; formic acids into Hong Kong SAR soared to 51 tons in 2022, picking up by 678% against 2021 figures. Overall, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids skyrocketed to $47K in 2022. Over the period under review, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | N/A | 2.0 | 15.3 | 665.0% |
| United Kingdom | 5.5 | 4.3 | 3.3 | 6.6 | 6.3% |
| Vietnam | N/A | 2.2 | N/A | N/A | 0% |
| Others | 5.5 | 6.4 | 5.4 | 24.9 | 65.4% |
| Total | 11.1 | 12.9 | 10.7 | 46.8 | 61.6% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to Hong Kong SAR in 2022:
- China (24.0 tons)
- United Kingdom (1.8 tons)
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