Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR (FOB) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR (CIF) - 2022
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses stood at $7,366 per ton in 2022, rising by 75% against the previous year. Overall, the export price posted a prominent increase. The pace of growth was the most pronounced in 2015 when the average export price increased by 315% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.
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 the UK ($24,489 per ton), while the average price for exports to China amounted to $4,226 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.8%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses stood at $1,871 per ton in 2022, with an increase of 241% against the previous year. Overall, the import price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 245% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
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 Belgium ($2,079 per ton), while the price for China stood at $1,058 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.8%), while the prices for the other major suppliers experienced a decline.
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR
For the third year in a row, Hong Kong SAR recorded decline in overseas shipments of acids; saturated acyclic monocarboxylic acids; salts of formic acidses, which decreased by -0.3% to 7.4 tons in 2022. Over the period under review, exports saw a dramatic contraction.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses surged to $54K in 2022. Overall, exports, however, showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 17.9 | 23.6 | 15.6 | 14.2 | -7.4% |
| United Kingdom | N/A | N/A | N/A | 6.9 | 0% |
| Vietnam | 9.2 | 2.4 | N/A | N/A | -73.9% |
| Others | 27.1 | 26.0 | 15.6 | 33.2 | 7.0% |
| Total | 54.2 | 51.9 | 31.1 | 54.3 | 0.1% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids from Hong Kong SAR in 2022:
- China (3.4 tons)
- United Kingdom (0.3 tons)
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR
In 2022, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses into Hong Kong SAR fell significantly to 3.1 tons, declining by -99.1% on the year before. In general, imports continue to indicate a sharp shrinkage. The growth pace was the most rapid in 2021 when imports increased by 7,712% against the previous year. As a result, imports reached the peak of 332 tons, and then shrank markedly in the following year.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses dropped notably to $5.7K in 2022. Over the period under review, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 3,797% against the previous year. As a result, imports attained the peak of $182K, and then reduced rapidly in the following year.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | N/A | 1.8 | N/A | 2.1 | 8.0% |
| China | 1.0 | 0.6 | 91.2 | 0.8 | -7.2% |
| Others | 1.0 | 2.3 | 91.2 | 2.9 | 42.6% |
| Total | 1.9 | 4.7 | 182 | 5.7 | 44.2% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids to Hong Kong SAR in 2022:
- Belgium (1.0 tons)
- China (0.7 tons)
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