Republic of Korea - Industrial Stearic Acid - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIndustrial Stearic Acid Price in South Korea - 2022
Contents:
- Industrial Stearic Acid Price in South Korea (CIF) - 2022
- Industrial Stearic Acid Price in South Korea (FOB) - 2022
- Industrial Stearic Acid Imports in South Korea
- Industrial Stearic Acid Exports in South Korea
Industrial Stearic Acid Price in South Korea (CIF) - 2022
In 2022, the average industrial stearic acid import price amounted to $1,033 per ton, waning by -14.7% against the previous year. In general, the import price continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2021 an increase of 48%. Over the period under review, average import prices attained the maximum at $1,213 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($1,109 per ton), while the price for Indonesia ($1,014 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.4%), while the prices for the other major suppliers experienced a decline.
Industrial Stearic Acid Price in South Korea (FOB) - 2022
In December 2022, the average industrial stearic acid export price amounted to $2,439 per ton, with a decrease of -13.7% against the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in October 2022 when the average export price increased by 15% against the previous month. The export price peaked at $2,828 per ton in November 2022, and then shrank in the following month.
Average prices varied noticeably for the major export markets. In December 2022, the country with the highest price was China ($2,862 per ton), while the average price for exports to Vietnam ($2,334 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.
Industrial Stearic Acid Imports in South Korea
Industrial stearic acid imports into South Korea declined to 77K tons in 2022, reducing by -8.1% on 2021. The total import volume increased at an average annual rate of +2.7% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 19%. As a result, imports reached the peak of 84K tons, and then dropped in the following year.
In value terms, industrial stearic acid imports dropped sharply to $80M in 2022. Overall, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2021 when imports increased by 76% against the previous year. As a result, imports reached the peak of $102M, and then shrank remarkably in the following year.
| Import of Industrial Stearic Acid in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 39.4 | 44.6 | 74.7 | 58.5 | 14.1% |
| Malaysia | 10.8 | 12.0 | 23.5 | 18.4 | 19.4% |
| China | N/A | 0.9 | 3.4 | 2.7 | 73.2% |
| Others | 0.4 | 0.3 | 0.1 | 0.2 | -20.6% |
| Total | 50.6 | 57.7 | 102 | 79.7 | 16.4% |
Top Suppliers of Industrial Stearic Acid to South Korea in 2022:
- Indonesia (57.6K tons)
- Malaysia (17.0K tons)
- China (2.4K tons)
Industrial Stearic Acid Exports in South Korea
In 2022, overseas shipments of industrial stearic acid were finally on the rise to reach 976 tons after two years of decline. In general, exports, however, saw a deep downturn.
In value terms, industrial stearic acid exports totaled $1.5M in 2022. Overall, exports, however, continue to indicate a pronounced decline.
| Export of Industrial Stearic Acid in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 1,126 | 851 | 776 | 796 | -10.9% |
| China | 340 | 496 | 406 | 416 | 7.0% |
| Indonesia | 174 | 125 | 179 | 184 | 1.9% |
| United States | 1.0 | 2.2 | 51.1 | 52.5 | 274.4% |
| Bangladesh | 35.3 | 43.3 | 36.6 | 37.5 | 2.0% |
| Uzbekistan | 38.3 | 15.9 | 18.7 | 19.1 | -20.7% |
| Others | 3.5 | 3.1 | 14.3 | 3.6 | 0.9% |
| Total | 1,718 | 1,537 | 1,481 | 1,509 | -4.2% |
Top Export Markets for Industrial Stearic Acid from South Korea in 2022:
- Vietnam (576.0 tons)
- China (233.7 tons)
- Indonesia (99.2 tons)
- United States (25.8 tons)
- Bangladesh (24.9 tons)
- Uzbekistan (15.0 tons)
This report provides an in-depth analysis of the industrial stearic acid 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 20143120 - Industrial stearic acid
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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