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Hong Kong SAR, China - Formic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Formic Acid, Its Salts and Esters in Hong Kong SAR - 2023
Contents:
- Price for Formic Acid, Its Salts and Esters in Hong Kong SAR (CIF) - 2022
- Price for Formic Acid, Its Salts and Esters in Hong Kong SAR (FOB) - 2022
- Imports of Formic Acid, Its Salts and Esters in Hong Kong SAR
- Exports of Formic Acid, Its Salts and Esters in Hong Kong SAR
Price for Formic Acid, Its Salts and Esters in Hong Kong SAR (CIF) - 2022
The average import price for formic acid, its salts and esters stood at $2,072 per ton in 2022, increasing by 258% against the previous year. Overall, the import price posted a buoyant increase. The import price peaked at $3,463 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to -4.0% per year.
Price for Formic Acid, Its Salts and Esters in Hong Kong SAR (FOB) - 2022
In 2022, the average export price for formic acid, its salts and esters amounted to $7,366 per ton, picking up by 75% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. The growth pace was the most rapid in 2015 an increase of 366% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: 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 stood at $4,226 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.7%).
Imports of Formic Acid, Its Salts and Esters in Hong Kong SAR
After three years of growth, purchases abroad of formic acid, its salts and esters decreased by -84.1% to 26 tons in 2022. In general, imports, however, enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 562%. As a result, imports attained the peak of 167 tons, and then declined rapidly in the following year.
In value terms, imports of formic acid, its salts and esters fell sharply to $55K in 2022. Over the period under review, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 1,001% against the previous year. As a result, imports reached the peak of $97K, and then dropped markedly in the following year.
Import of Formic Acid, Its Salts and Esters in Hong Kong SAR (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 1.0 | 0.6 | 93.2 | 44.6 | 254.6% |
Vietnam | N/A | 2.2 | N/A | N/A | 0% |
Others | 5.5 | 6.0 | 3.3 | 10.2 | 22.9% |
Total | 6.5 | 8.8 | 96.5 | 54.8 | 103.5% |
Top Suppliers of Formic Acid, Its Salts and Esters to Hong Kong SAR in 2022:
- China (81.0 tons)
Exports of Formic Acid, Its Salts and Esters in Hong Kong SAR
Exports of formic acid, its salts and esters from Hong Kong SAR fell modestly to 3.7 tons in 2022, approximately mirroring 2021 figures. Overall, exports continue to indicate a significant curtailment.
In value terms, exports of formic acid, its salts and esters soared to $27K in 2022. In general, exports, however, showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Export of Formic Acid, Its Salts and Esters 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 | N/A | N/A | N/A | 6.1 | 0% |
Total | 27.1 | 26.0 | 15.6 | 27.1 | 0.0% |
Top Export Markets for Formic Acid, Its Salts and Esters from Hong Kong SAR in 2022:
- China (3.4 tons)
- United Kingdom (0.3 tons)
This report provides an in-depth analysis of the market for formic acid, its salts and esters 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 20143250 - Formic acid, its salts and esters
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
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