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Republic of Korea - Isocyanates - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Isocyanates Market 2024
Isocyanates Market Size in Republic of Korea
In 2023, the South Korean isocyanates market increased by X% to $X for the first time since 2020, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a deep setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.
Isocyanates Production in Republic of Korea
In value terms, isocyanates production amounted to $X in 2023 estimated in export price. Overall, production, however, saw a slight decrease. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2023, production growth remained at a lower figure.
Isocyanates Exports
Exports from Republic of Korea
In 2023, shipments abroad of isocyanates decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports failed to regain momentum.
In value terms, isocyanates exports reduced modestly to $X in 2023. In general, exports, however, showed a modest expansion. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.
Exports by Country
Belgium (X tons), China (X tons) and Turkey (X tons) were the main destinations of isocyanates exports from South Korea, with a combined X% share of total exports. Indonesia, India, Vietnam, the United States, Pakistan, Taiwan (Chinese), Brazil, Nigeria, Russia and Malaysia lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, the largest markets for isocyanates exported from South Korea were Belgium ($X), Turkey ($X) and China ($X), together comprising X% of total exports. Indonesia, India, Vietnam, the United States, Brazil, Pakistan, Taiwan (Chinese), Nigeria, Malaysia and Russia lagged somewhat behind, together accounting for a further X%.
Among the main countries of destination, the United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average isocyanates export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2023, the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major export markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Belgium ($X per ton) and Turkey ($X per ton), while the average price for exports to Russia ($X per ton) and China ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced a decline.
Isocyanates Imports
Imports into Republic of Korea
In 2023, after three years of decline, there was growth in purchases abroad of isocyanates, when their volume increased by X% to X tons. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.
In value terms, isocyanates imports reduced to $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2022, and then fell in the following year.
Imports by Country
In 2023, China (X tons) constituted the largest isocyanates supplier to South Korea, with a X% share of total imports. Moreover, isocyanates imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Saudi Arabia (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Saudi Arabia (X% per year).
In value terms, China ($X) constituted the largest supplier of isocyanates to South Korea, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by France, with a X% share.
From 2012 to 2023, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).
Import Prices by Country
The average isocyanates import price stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the isocyanates market in Republic of Korea. 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 20144450 - Isocyanates
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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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