Hong Kong SAR, China - Urea - Market Analysis, Forecast, Size, Trends And Insights
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View PricingUrea Price in Hong Kong SAR - 2023
Contents:
- Urea Price in Hong Kong SAR (CIF) - 2023
- Urea Price in Hong Kong SAR (FOB) - 2022
- Urea Imports in Hong Kong SAR
- Urea Exports in Hong Kong SAR
Urea Price in Hong Kong SAR (CIF) - 2023
The average urea import price stood at $244 per ton in August 2023, dropping by -9.1% against the previous month. Over the period under review, the import price recorded a noticeable decline. The growth pace was the most rapid in December 2022 when the average import price increased by 27% m-o-m. The import price peaked at $369 per ton in August 2022; however, from September 2022 to August 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Saudi Arabia ($409 per ton), while the price for China stood at $241 per ton.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (0.0%).
Urea Price in Hong Kong SAR (FOB) - 2022
The average urea export price stood at $726 per ton in 2022, rising by 49% against the previous year. Overall, the export price saw a strong expansion. The growth pace was the most rapid in 2021 an increase of 75% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($6,543 per ton), while the average price for exports to Singapore ($221 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 China (+35.3%), while the prices for the other major destinations experienced more modest paces of growth.
Urea Imports in Hong Kong SAR
Urea imports into Hong Kong SAR contracted significantly to 19K tons in 2022, with a decrease of -75.9% compared with the year before. In general, imports showed a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of 290%. As a result, imports attained the peak of 78K tons, and then plummeted in the following year.
In value terms, urea imports declined dramatically to $6.4M in 2022. Over the period under review, imports, however, posted modest growth. The pace of growth was the most pronounced in 2021 when imports increased by 306% against the previous year. As a result, imports attained the peak of $23M, and then reduced sharply in the following year.
| Import of Urea in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.6 | 4.6 | 21.8 | 5.4 | 5.5% |
| Taiwan (Chinese) | 0.6 | 0.4 | 0.3 | N/A | -29.3% |
| Others | 0.9 | 0.6 | 0.8 | 1.0 | 3.6% |
| Total | 6.1 | 5.6 | 22.8 | 6.4 | 1.6% |
Top Suppliers of Urea to Hong Kong SAR in 2022:
- China (17.6K tons)
- Taiwan (Chinese) (0.1K tons)
Urea Exports in Hong Kong SAR
In 2022, after three years of growth, there was significant decline in shipments abroad of urea, when their volume decreased by -16.4% to 1.6K tons. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 464% against the previous year. As a result, the exports attained the peak of 1.9K tons, and then fell notably in the following year.
In value terms, urea exports soared to $1.2M in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 889% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Urea in Hong Kong SAR (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | N/A | N/A | 607 | 359 | -40.9% |
| Japan | N/A | N/A | N/A | 293 | 0% |
| Australia | N/A | N/A | N/A | 188 | 0% |
| Macao SAR | 117 | 78.4 | 150 | 158 | 10.5% |
| Israel | N/A | N/A | N/A | 96.9 | 0% |
| Singapore | N/A | 17.6 | 109 | 34.0 | 39.0% |
| Taiwan (Chinese) | 2.5 | N/A | 17.5 | 31.4 | 132.5% |
| Others | 30.3 | N/A | 65.3 | 19.8 | -13.2% |
| Total | 150 | 96.0 | 949 | 1,179 | 98.8% |
Top Export Markets for Urea from Hong Kong SAR in 2022:
- Macao SAR (383.1 tons)
- South Korea (360.2 tons)
- Japan (349.0 tons)
- Australia (198.9 tons)
- Singapore (153.4 tons)
- Israel (120.0 tons)
- Taiwan (Chinese) (40.0 tons)
This report provides an in-depth analysis of the urea 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:
- FCL 4001 - Urea
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
-
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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