Price for Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives in South Korea - 2022

Contents:

1. Price for Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives in South Korea (CIF) - 2022
2. Price for Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives in South Korea (FOB) - 2022
3. Imports of Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives in South Korea
4. Exports of Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives in South Korea

Price for Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives in South Korea (CIF) - 2022

In December 2022, the average import price for alcohols; cyclic, and their halogenated, sulphonated, nitrated or nitrosated derivativeses amounted to $2,525 per ton, growing by 22% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.0%. Over the period under review, average import prices hit record highs at $2,546 per ton in March 2022; afterwards, it flattened through to December 2022.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was China ($7,601 per ton), while the price for Japan ($1,185 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 (+7.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives in South Korea (FOB) - 2022

In 2022, the average export price for alcohols; cyclic, and their halogenated, sulphonated, nitrated or nitrosated derivativeses amounted to $6,122 per ton, with an increase of 35% against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for alcohols; cyclic, and their halogenated, sulphonated, nitrated or nitrosated derivativeses increased by +72.4% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($18,879 per ton), while the average price for exports to the Netherlands ($3,884 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 Italy (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives in South Korea

In 2022, imports of alcohols; cyclic, and their halogenated, sulphonated, nitrated or nitrosated derivativeses into South Korea rose markedly to 132K tons, growing by 12% against 2021 figures. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +16.7% 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 +75.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 57%. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, imports of alcohols; cyclic, and their halogenated, sulphonated, nitrated or nitrosated derivativeses expanded significantly to $222M in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +12.2% 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 +62.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44%. Imports peaked in 2022 and are expected to retain growth in the near future.

Top Suppliers of Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives to South Korea in 2022:

1. Japan (123.3K tons)
2. China (5.0K tons)
3. India (2.3K tons)

Exports of Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives in South Korea

In 2022, shipments abroad of alcohols; cyclic, and their halogenated, sulphonated, nitrated or nitrosated derivativeses decreased by -41.8% to 2.6K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports saw a drastic downturn. The pace of growth was the most pronounced in 2021 when exports increased by 33% against the previous year. As a result, the exports reached the peak of 4.5K tons, and then dropped rapidly in the following year.

In value terms, exports of alcohols; cyclic, and their halogenated, sulphonated, nitrated or nitrosated derivativeses dropped dramatically to $16M in 2022. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +8.6% 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 +33.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 69% against the previous year. As a result, the exports reached the peak of $20M, and then contracted significantly in the following year.

Top Export Markets for Alcohols; Cyclic, and Their Halogenated, Sulphonated, Nitrated or Nitrosated Derivatives from South Korea in 2022:

1. China (577.9 tons)
2. United States (398.3 tons)
3. Japan (353.8 tons)
4. Netherlands (352.3 tons)
5. Spain (160.0 tons)
6. India (159.4 tons)
7. Taiwan (Chinese) (143.3 tons)
8. Italy (120.6 tons)
9. Germany (99.0 tons)
10. Belgium (92.0 tons)

Source: IndexBox Market Intelligence Platform