Price for Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea - 2022
Contents:
- Price for Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea (FOB) - 2022
- Price for Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea (CIF) - 2022
- Exports of Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea
- Imports of Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea
Price for Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea (FOB) - 2022
In December 2022, the average export price for acids; aromatic polycarboxylic acids; terephthalic acid and its saltses amounted to $698 per ton, waning by -7.6% against the previous month. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 an increase of 13% against the previous month. The export price peaked at $1,004 per ton in July 2022; however, from August 2022 to December 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In December 2022, the countries with the highest prices were the United States ($745 per ton) and Greece ($745 per ton), while the average price for exports to Saudi Arabia ($649 per ton) and Turkey ($686 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea (CIF) - 2022
The average import price for acids; aromatic polycarboxylic acids; terephthalic acid and its saltses stood at $2,425 per ton in 2022, shrinking by -3.1% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 47%. As a result, import price reached the peak level of $3,631 per ton. From 2015 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($3,262 per ton), while the price for Indonesia ($440 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+26.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea
In 2022, shipments abroad of acids; aromatic polycarboxylic acids; terephthalic acid and its saltses was finally on the rise to reach 1.6M tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a abrupt slump.
In value terms, exports of acids; aromatic polycarboxylic acids; terephthalic acid and its saltses surged to $1.4B in 2022. Overall, exports, however, recorded a noticeable decrease.
| Export of Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 280 | 298 | 490 | 620 | 30.3% |
| Lithuania | 244 | 147 | 132 | 271 | 3.6% |
| Spain | 142 | 85.0 | 56.7 | 111 | -7.9% |
| Saudi Arabia | 2.6 | 9.4 | 22.6 | 99.8 | 237.3% |
| Oman | N/A | 74.3 | 42.5 | 76.7 | 1.6% |
| United Kingdom | 57.1 | 54.6 | 70.5 | 72.3 | 8.2% |
| United States | 26.8 | 28.7 | 5.1 | 40.6 | 14.8% |
| China | 223 | 40.3 | N/A | 4.7 | -72.4% |
| India | 276 | 36.3 | 22.4 | N/A | -71.5% |
| Others | 235 | 153 | 119 | 93.6 | -26.4% |
| Total | 1,486 | 927 | 960 | 1,389 | -2.2% |
Top Export Markets for Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts from South Korea in 2022:
- Turkey (744.8K tons)
- Lithuania (315.5K tons)
- Spain (129.5K tons)
- Saudi Arabia (119.5K tons)
- Oman (90.5K tons)
- United Kingdom (83.0K tons)
- United States (47.6K tons)
- China (6.1K tons)
Imports of Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea
In 2022, imports of acids; aromatic polycarboxylic acids; terephthalic acid and its saltses into South Korea skyrocketed to 4.2K tons, growing by 21% on 2021 figures. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +17.4% 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 +61.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 38% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in years to come.
In value terms, imports of acids; aromatic polycarboxylic acids; terephthalic acid and its saltses soared to $10M in 2022. The total import value increased at an average annual rate of +7.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | N/A | N/A | 0.6 | 8.6 | 1333.3% |
| Japan | 7.6 | 8.1 | 7.6 | 1.2 | -46.0% |
| China | 0.3 | 0.5 | 0.1 | 0.1 | -30.7% |
| Indonesia | N/A | N/A | 0.1 | N/A | 0% |
| Others | 0.1 | 0.1 | 0.2 | 0.1 | 0.0% |
| Total | 8.1 | 8.8 | 8.7 | 10.2 | 8.0% |
Top Suppliers of Acids; Aromatic Polycarboxylic Acids; Terephthalic Acid and Its Salts to South Korea in 2022:
- Thailand (3535.2 tons)
- Japan (487.1 tons)
- Indonesia (110.0 tons)
- China (37.0 tons)
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