Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea - 2022
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea (FOB) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea (CIF) - 2022
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; vinyl acetates stood at $1,948 per ton in 2022, surging by 31% against the previous year. Overall, the export price posted a resilient increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 69%. The export price peaked in 2022 and is likely to continue growth in years to come.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($2,447 per ton), while the average price for exports to Japan ($1,620 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 Egypt (+86.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; vinyl acetates stood at $1,778 per ton in 2022, picking up by 30% against the previous year. In general, the import price recorded a buoyant increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 64% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Singapore ($2,183 per ton) and Japan ($1,977 per ton), while the price for Taiwan (Chinese) ($1,577 per ton) and China ($1,865 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea
In 2022, shipments abroad of acids; saturated acyclic monocarboxylic acids; vinyl acetates decreased by -55% to 90K tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2020 with an increase of 471%.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; vinyl acetates dropped remarkably to $175M in 2022. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2020 when exports increased by 504% against the previous year.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 7.0 | 13.1 | 116 | 84.8 | 129.7% |
| China | 1.5 | 10.1 | 91.0 | 32.5 | 178.8% |
| Indonesia | N/A | 3.6 | 24.1 | 15.3 | 106.2% |
| United States | N/A | 4.2 | 1.7 | 12.8 | 74.6% |
| India | N/A | 7.0 | 15.2 | 11.3 | 27.1% |
| Egypt | N/A | 1.0 | 9.8 | 7.3 | 170.2% |
| Thailand | N/A | 2.1 | 11.4 | 3.2 | 23.4% |
| Turkey | N/A | 2.2 | 9.8 | 1.8 | -9.5% |
| Others | N/A | 8.5 | 19.1 | 6.3 | -13.9% |
| Total | 8.6 | 51.7 | 298 | 175 | 173.0% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate from South Korea in 2022:
- Belgium (41.7K tons)
- China (19.6K tons)
- Indonesia (7.4K tons)
- United States (6.1K tons)
- India (5.8K tons)
- Egypt (3.0K tons)
- Thailand (1.7K tons)
- Turkey (1.0K tons)
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea
For the third consecutive year, South Korea recorded decline in supplies from abroad of acids; saturated acyclic monocarboxylic acids; vinyl acetates, which decreased by -22.8% to 49K tons in 2022. Over the period under review, imports continue to indicate a abrupt decrease. The smallest decline of -1% was in 2020.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; vinyl acetates reached $87M in 2022. Overall, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +10.4% 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 +48.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 48%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 10.4 | 8.0 | 14.6 | 32.4 | 46.1% |
| Taiwan (Chinese) | 25.3 | 25.3 | 31.4 | 31.4 | 7.5% |
| Japan | 23.2 | 18.7 | 33.9 | 21.0 | -3.3% |
| Singapore | 5.6 | 5.1 | 6.3 | 2.0 | -29.1% |
| Others | N/A | 1.2 | N/A | N/A | 0% |
| Total | 64.6 | 58.3 | 86.2 | 86.8 | 10.3% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate to South Korea in 2022:
- Taiwan (Chinese) (19.9K tons)
- China (17.4K tons)
- Japan (10.6K tons)
- Singapore (0.9K tons)
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