Price for Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea - 2022
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea (CIF) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea
Price for Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea (CIF) - 2022
In December 2022, the average import price for acids; saturated acyclic monocarboxylic acids; n-butyl acetates amounted to $1,242 per ton, increasing by 8.6% against the previous month. Overall, the import price, however, recorded a pronounced shrinkage. The import price peaked at $1,935 per ton in December 2021; however, from January 2022 to December 2022, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In December 2022, the country with the highest price was Taiwan (Chinese) ($1,600 per ton), while the price for China ($1,069 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Singapore (-2.8%), while the prices for the other major suppliers experienced a decline.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea (FOB) - 2022
In December 2022, the average export price for acids; saturated acyclic monocarboxylic acids; n-butyl acetates amounted to $1,688 per ton, reducing by -32% against the previous month. Overall, the export price saw a pronounced contraction. The most prominent rate of growth was recorded in July 2022 an increase of 31% month-to-month. As a result, the export price attained the peak level of $4,223 per ton. From August 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was China ($5,393 per ton), while the average price for exports to Lebanon ($980 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 Uzbekistan (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea
Imports of acids; saturated acyclic monocarboxylic acids; n-butyl acetates into South Korea fell rapidly to 14K tons in 2022, waning by -17.4% on 2021 figures. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 32%. As a result, imports reached the peak of 16K tons, and then reduced rapidly in the following year.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; n-butyl acetates contracted markedly to $20M in 2022. Overall, total imports indicated temperate growth from 2019 to 2022: its value increased at an average annual rate of +2.7% 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 +67.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 104% against the previous year. As a result, imports reached the peak of $24M, and then fell sharply in the following year.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 11.8 | 6.9 | 11.6 | 9.2 | -8.0% |
| China | 2.1 | 1.6 | 6.5 | 6.0 | 41.9% |
| Taiwan (Chinese) | 3.3 | 3.0 | 5.3 | 4.1 | 7.5% |
| Others | 1.0 | 0.2 | 0.4 | 0.3 | -33.1% |
| Total | 18.2 | 11.7 | 23.9 | 19.7 | 2.7% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate to South Korea in 2022:
- Singapore (7.8K tons)
- China (3.8K tons)
- Taiwan (Chinese) (2.0K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea
In 2022, approx. 1.9K tons of acids; saturated acyclic monocarboxylic acids; n-butyl acetates were exported from South Korea; picking up by 34% against 2021. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 69%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; n-butyl acetates surged to $4.9M in 2022. Over the period under review, exports posted significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 95% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 893 | 1,062 | 1,707 | 2,598 | 42.8% |
| Uzbekistan | N/A | 273 | 360 | 567 | 44.1% |
| China | 114 | 97.6 | 365 | 517 | 65.5% |
| Vietnam | 296 | 182 | 579 | 508 | 19.7% |
| Saudi Arabia | N/A | 12.1 | 123 | 118 | 212.3% |
| Jordan | 35.4 | 24.3 | N/A | 108 | 45.0% |
| Lebanon | N/A | N/A | N/A | 56.1 | 0% |
| Egypt | 300 | N/A | N/A | N/A | 0% |
| Others | 200 | 221 | 514 | 395 | 25.5% |
| Total | 1,838 | 1,872 | 3,648 | 4,868 | 38.4% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; N-Butyl Acetate from South Korea in 2022:
- United States (802.2 tons)
- Vietnam (355.1 tons)
- Uzbekistan (281.2 tons)
- China (93.4 tons)
- Saudi Arabia (68.0 tons)
- Lebanon (58.5 tons)
- Jordan (54.4 tons)
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