Republic of Korea - Phenols And Other Oils And Oil Products - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Phenols and Other Oils and Oil Products in South Korea - 2022
Contents:
- Price for Phenols and Other Oils and Oil Products in South Korea (FOB) - 2022
- Price for Phenols and Other Oils and Oil Products in South Korea (CIF) - 2022
- Exports of Phenols and Other Oils and Oil Products in South Korea
- Imports of Phenols and Other Oils and Oil Products in South Korea
Price for Phenols and Other Oils and Oil Products in South Korea (FOB) - 2022
In 2022, the average export price for phenols and other oils and oil products amounted to $836 per ton, with an increase of 44% against the previous year. In general, the export price continues to indicate a mild increase. The growth pace was the most rapid in 2021 an increase of 52% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual 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 Canada ($1,160 per ton), while the average price for exports to China ($655 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 the UK (+53.5%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Phenols and Other Oils and Oil Products in South Korea (CIF) - 2022
The average import price for phenols and other oils and oil products stood at $881 per ton in 2022, rising by 45% against the previous year. Over the period under review, the import price saw mild growth. The import price peaked at $954 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($3,309 per ton), while the price for Singapore ($537 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Phenols and Other Oils and Oil Products in South Korea
After three years of growth, overseas shipments of phenols and other oils and oil products decreased by -27.2% to 390K tons in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +8.5% 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 +27.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 49%. As a result, the exports attained the peak of 535K tons, and then plummeted in the following year.
In value terms, exports of phenols and other oils and oil products amounted to $326M in 2022. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 126% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see steady growth in the near future.
| Export of Phenols and Other Oils and Oil Products in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 65.0 | 24.0 | 80.6 | 104 | 17.0% |
| United Kingdom | N/A | 8.3 | 5.0 | 37.3 | 112.0% |
| Singapore | 15.5 | 34.8 | 82.9 | 34.4 | 30.4% |
| Saudi Arabia | 9.3 | 10.1 | 15.6 | 31.0 | 49.4% |
| United Arab Emirates | N/A | N/A | N/A | 26.2 | 0% |
| South Africa | 7.7 | 11.2 | 15.7 | 21.9 | 41.7% |
| Mozambique | 11.8 | 11.3 | 16.1 | 20.5 | 20.2% |
| Bahrain | 3.0 | 9.7 | 13.1 | 14.7 | 69.8% |
| Canada | 21.7 | 5.7 | 3.1 | 11.7 | -18.6% |
| Australia | 10.2 | 8.4 | 5.2 | 4.9 | -21.7% |
| Malaysia | 3.3 | 2.3 | 25.4 | N/A | 177.4% |
| Others | 12.1 | 11.9 | 47.9 | 19.7 | 17.6% |
| Total | 160 | 138 | 311 | 326 | 26.8% |
Top Export Markets for Phenols and Other Oils and Oil Products from South Korea in 2022:
- Japan (155.8K tons)
- United Kingdom (45.4K tons)
- Singapore (43.2K tons)
- Saudi Arabia (26.7K tons)
- United Arab Emirates (24.7K tons)
- South Africa (19.5K tons)
- Mozambique (19.0K tons)
- Bahrain (13.9K tons)
- Canada (10.1K tons)
- Australia (4.2K tons)
Imports of Phenols and Other Oils and Oil Products in South Korea
Imports of phenols and other oils and oil products into South Korea fell dramatically to 133K tons in 2022, which is down by -61.9% on the previous year. Overall, imports saw a precipitous contraction. The pace of growth appeared the most rapid in 2021 with an increase of 98%.
In value terms, imports of phenols and other oils and oil products fell sharply to $117M in 2022. Over the period under review, imports faced a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 167% against the previous year. As a result, imports attained the peak of $212M, and then shrank remarkably in the following year.
| Import of Phenols and Other Oils and Oil Products in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 62.1 | 34.7 | 61.7 | 34.6 | -17.7% |
| Singapore | 5.5 | 4.9 | 54.0 | 21.0 | 56.3% |
| Malaysia | 15.9 | 11.7 | 21.2 | 15.8 | -0.2% |
| Thailand | 18.3 | 6.8 | 10.6 | 14.0 | -8.5% |
| Russia | N/A | 1.4 | 11.2 | 11.8 | 190.3% |
| Germany | 6.9 | 5.8 | 2.4 | 9.2 | 10.1% |
| Indonesia | N/A | 5.5 | 31.3 | 6.0 | 4.4% |
| United States | 68.9 | 0.5 | 0.1 | 0.1 | -88.7% |
| Taiwan (Chinese) | 6.9 | 3.6 | N/A | N/A | -47.8% |
| Others | 22.7 | 4.4 | 19.6 | 4.3 | -42.6% |
| Total | 207 | 79.3 | 212 | 117 | -17.3% |
Top Suppliers of Phenols and Other Oils and Oil Products to South Korea in 2022:
- Japan (39.7K tons)
- Singapore (39.2K tons)
- Thailand (14.2K tons)
- Malaysia (12.4K tons)
- Russia (9.4K tons)
- Germany (9.2K tons)
- Indonesia (5.7K tons)
- United States (0.1K tons)
This report provides an in-depth analysis of the market for phenols and other oils and oil products in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20147360 - Phenols
- Prodcom 20147390 - Other oils and oil products, n.e.c.
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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