Republic of Korea - Butanone (Methyl Ethyl Ketone) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingButanone Price in South Korea - 2022
Contents:
- Butanone Price in South Korea (CIF) - 2022
- Butanone Price in South Korea (FOB) - 2022
- Butanone Imports in South Korea
- Butanone Exports in South Korea
Butanone Price in South Korea (CIF) - 2022
The average butanone import price stood at $1,139 per ton in December 2022, reducing by -6.1% against the previous month. In general, the import price recorded a pronounced shrinkage. The pace of growth was the most pronounced in March 2022 an increase of 9% month-to-month. Over the period under review, average import prices hit record highs at $1,858 per ton in May 2022; however, from June 2022 to December 2022, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($1,272 per ton), while the price for China totaled $1,105 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Japan (-1.4%).
Butanone Price in South Korea (FOB) - 2022
The average butanone export price stood at $1,294 per ton in 2022, with an increase of 11% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2017 an increase of 23% against the previous year. The export price peaked at $1,765 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.
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 United States ($2,000 per ton), while the average price for exports to Vietnam ($1,052 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 Australia (+36.9%), while the prices for the other major destinations experienced more modest paces of growth.
Butanone Imports in South Korea
In 2022, after three years of growth, there was significant decline in overseas purchases of butanone (methyl ethyl ketone), when their volume decreased by -18.4% to 89K tons. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 14% against the previous year.
In value terms, butanone imports expanded modestly to $137M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +14.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.
| Import of Butanone in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 41.5 | 54.8 | 64.9 | 94.2 | 31.4% |
| Japan | 50.0 | 36.1 | 65.4 | 42.3 | -5.4% |
| Others | 0.6 | 2.2 | 0.7 | 0.5 | -5.9% |
| Total | 92.1 | 93.1 | 131 | 137 | 14.2% |
Top Suppliers of Butanone to South Korea in 2022:
- China (60.7K tons)
- Japan (28.4K tons)
Butanone Exports in South Korea
In 2022, overseas shipments of butanone (methyl ethyl ketone) decreased by -56.1% to 222 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a precipitous contraction. The pace of growth appeared the most rapid in 2020 with an increase of 211%. As a result, the exports reached the peak of 3.5K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, butanone exports shrank notably to $287K in 2022. In general, exports recorded a precipitous curtailment. The pace of growth was the most pronounced in 2020 when exports increased by 88%. As a result, the exports attained the peak of $3.8M. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Butanone in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 1,062 | 3,370 | 453 | 110 | -53.0% |
| Pakistan | 70.3 | 94.4 | 20.7 | 51.9 | -9.6% |
| Kenya | N/A | N/A | N/A | 41.9 | 0% |
| United States | N/A | N/A | N/A | 37.9 | 0% |
| Jordan | N/A | N/A | 13.1 | 24.2 | 84.7% |
| Taiwan (Chinese) | 743 | 111 | 5.6 | 10.5 | -75.8% |
| Others | 121 | 184 | 96.7 | 11.1 | -54.9% |
| Total | 1,997 | 3,759 | 589 | 287 | -47.6% |
Top Export Markets for Butanone from South Korea in 2022:
- Vietnam (104.5 tons)
- Pakistan (39.6 tons)
- Kenya (33.0 tons)
- Jordan (19.8 tons)
- United States (19.0 tons)
- Taiwan (Chinese) (1.9 tons)
This report provides an in-depth analysis of the butanone 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 20146213 - Butanone (methyl ethyl ketone)
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
-
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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