Price for Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters in South Korea - 2022

Contents:

1. Price for Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters in South Korea (CIF) - 2022
2. Price for Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters in South Korea (FOB) - 2022
3. Imports of Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters in South Korea
4. Exports of Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters in South Korea

Price for Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters in South Korea (CIF) - 2022

In 2022, the average import price for acids; acyclic polycarboxylic acids; oxalic acid, its salts and esterses amounted to $1,307 per ton, which is down by -7.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 7.6% against the previous year. Over the period under review, average import prices reached the peak figure at $1,416 per ton in 2021, and then declined in the following year.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -2.1% per year.

Price for Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters in South Korea (FOB) - 2022

In 2022, the average export price for acids; acyclic polycarboxylic acids; oxalic acid, its salts and esterses amounted to $1,758 per ton, picking up by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2019 when the average export price increased by 33%. The export price peaked at $1,975 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Malaysia ($11,533 per ton), while the average price for exports to Japan ($1,254 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 (+33.8%), while the prices for the other major destinations experienced a decline.

Imports of Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters in South Korea

In 2022, approx. 6.3K tons of acids; acyclic polycarboxylic acids; oxalic acid, its salts and esterses were imported into South Korea; growing by 36% compared with the year before. Overall, imports posted significant growth. The growth pace was the most rapid in 2021 when imports increased by 37%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, imports of acids; acyclic polycarboxylic acids; oxalic acid, its salts and esterses soared to $8.2M in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +19.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +82.9% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 46%. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in the near future.

Top Suppliers of Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters to South Korea in 2022:

1. China (6.1K tons)
2. Japan (0.1K tons)

Exports of Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters in South Korea

Exports of acids; acyclic polycarboxylic acids; oxalic acid, its salts and esterses from South Korea soared to 3.4K tons in 2022, growing by 43% on 2021. Overall, exports showed a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 47%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of acids; acyclic polycarboxylic acids; oxalic acid, its salts and esterses surged to $5.9M in 2022. In general, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +6.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +86.9% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Acids; Acyclic Polycarboxylic Acids; Oxalic Acid, Its Salts and Esters from South Korea in 2022:

1. Japan (2636.7 tons)
2. Taiwan (Chinese) (430.1 tons)
3. Philippines (100.1 tons)
4. Malaysia (93.2 tons)

Source: IndexBox Market Intelligence Platform