Price for Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol in South Korea - 2022

Contents:

1. Price for Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol in South Korea (CIF) - 2022
2. Price for Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol in South Korea (FOB) - 2022
3. Imports of Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol in South Korea
4. Exports of Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol in South Korea

Price for Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol in South Korea (CIF) - 2022

The average import price for alcohols; aromatic alcohols and derivatives, benzyl alcohol stood at $3,297 per ton in December 2022, growing by 7.3% against the previous month. Over the period under review, the import price saw mild growth. The most prominent rate of growth was recorded in March 2022 an increase of 39% m-o-m. As a result, import price reached the peak level of $4,561 per ton. From April 2022 to December 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Germany ($7,081 per ton), while the price for China ($2,007 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 India (+0.2%), while the prices for the other major suppliers experienced a decline.

Price for Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol in South Korea (FOB) - 2022

The average export price for alcohols; aromatic alcohols and derivatives, benzyl alcohol stood at $2,892 per ton in 2022, increasing by 3.1% against the previous year. Overall, the export price, however, recorded a mild slump. The growth pace was the most rapid in 2018 an increase of 43%. The export price peaked at $3,774 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($11,000 per ton), while the average price for exports to India ($2,459 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 Sri Lanka (+42.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol in South Korea

After three years of growth, overseas purchases of alcohols; aromatic alcohols and derivatives, benzyl alcohol decreased by -19.5% to 4.3K tons in 2022. The total import volume increased at an average annual rate of +3.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 25% against the previous year.

In value terms, imports of alcohols; aromatic alcohols and derivatives, benzyl alcohol surged to $14M in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +22.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.6% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 35% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol to South Korea in 2022:

1. India (2.1K tons)
2. China (1.9K tons)
3. Germany (0.1K tons)

Exports of Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol in South Korea

In 2022, exports of alcohols; aromatic alcohols and derivatives, benzyl alcohol from South Korea reached 35 tons, surging by 10% on 2021 figures. Over the period under review, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2020 when exports increased by 11% against the previous year. As a result, the exports attained the peak of 60 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of alcohols; aromatic alcohols and derivatives, benzyl alcohol expanded significantly to $103K in 2022. Overall, exports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 31% against the previous year. As a result, the exports attained the peak of $179K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Alcohols; Aromatic Alcohols and Derivatives, Benzyl Alcohol from South Korea in 2022:

1. Vietnam (26.2 tons)
2. Chile (5.3 tons)
3. India (3.0 tons)
4. Malaysia (0.7 tons)

Source: IndexBox Market Intelligence Platform