Price for Ketones; aromatic, (without other oxygen function), excluding phenylacetone (phenylpropan-2-one) in South Korea - 2022

Contents:

1. Price for Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) in South Korea (CIF) - 2022
2. Price for Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) in South Korea (FOB) - 2022
3. Imports of Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) in South Korea
4. Exports of Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) in South Korea

Price for Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) in South Korea (CIF) - 2022

In December 2022, the average import price for ketones; aromatic, (without other oxygen function), excluding phenylacetone (phenylpropan-2-one)s amounted to $8,235 per ton, which is down by -8% against the previous month. Over the period under review, the import price saw a slight curtailment. The growth pace was the most rapid in August 2022 when the average import price increased by 60% month-to-month. As a result, import price reached the peak level of $12,061 per ton. From September 2022 to December 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was India ($72,475 per ton), while the price for China ($6,082 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by India (+15.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) in South Korea (FOB) - 2022

In 2022, the average export price for ketones; aromatic, (without other oxygen function), excluding phenylacetone (phenylpropan-2-one)s amounted to $21,598 per ton, increasing by 192% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $23,243 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($26,209 per ton), while the average price for exports to China ($6,770 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 Vietnam (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) in South Korea

Imports of ketones; aromatic, (without other oxygen function), excluding phenylacetone (phenylpropan-2-one)s into South Korea shrank to 1.4K tons in 2022, waning by -14.8% on the year before. The total import volume increased at an average annual rate of +1.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 24% against the previous year. As a result, imports reached the peak of 1.6K tons, and then declined in the following year.

In value terms, imports of ketones; aromatic, (without other oxygen function), excluding phenylacetone (phenylpropan-2-one)s totaled $12M in 2022. The total import value increased at an average annual rate of +7.8% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) to South Korea in 2022:

1. China (1242.8 tons)
2. India (105.5 tons)
3. France (16.2 tons)

Exports of Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) in South Korea

In 2022, exports of ketones; aromatic, (without other oxygen function), excluding phenylacetone (phenylpropan-2-one)s from South Korea skyrocketed to 43 tons, picking up by 32% on 2021. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 311% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, exports of ketones; aromatic, (without other oxygen function), excluding phenylacetone (phenylpropan-2-one)s surged to $923K in 2022. Over the period under review, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Ketones; Aromatic, (Without Other Oxygen Function), Excluding Phenylacetone (Phenylpropan-2-One) from South Korea in 2022:

1. Japan (30.8 tons)
2. Vietnam (8.9 tons)
3. China (1.9 tons)
4. India (0.7 tons)

Source: IndexBox Market Intelligence Platform