Price for Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms in South Korea - 2022

Contents:

1. Price for Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms in South Korea (FOB) - 2022
2. Price for Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms in South Korea (CIF) - 2022
3. Exports of Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms in South Korea
4. Imports of Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms in South Korea

Price for Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms in South Korea (FOB) - 2022

In December 2022, the average export price for propylene, other olefin polymers; polyisobutylene in primary formses amounted to $1,806 per ton, reducing by -2.2% against the previous month. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in March 2022 when the average export price increased by 12% against the previous month. Over the period under review, the average export prices attained the peak figure at $2,016 per ton in April 2022; however, from May 2022 to December 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In December 2022, the countries with the highest prices were Russia ($2,053 per ton) and Italy ($2,053 per ton), while the average price for exports to Singapore ($1,614 per ton) and India ($1,684 per ton) were amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms in South Korea (CIF) - 2022

The average import price for propylene, other olefin polymers; polyisobutylene in primary formses stood at $7,363 per ton in December 2022, shrinking by -4.3% against the previous month. In general, import price indicated a notable increase from December 2021 to December 2022: its price increased at an average monthly rate of +3.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, import price for propylene, other olefin polymers; polyisobutylene in primary formses increased by +30.9% against August 2022 indices. The growth pace was the most rapid in March 2022 when the average import price increased by 57% against the previous month. The import price peaked at $7,696 per ton in November 2022, and then declined in the following month.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($16,368 per ton), while the price for China ($3,357 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 (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms in South Korea

Exports of propylene, other olefin polymers; polyisobutylene in primary formses from South Korea amounted to 195K tons in 2022, approximately mirroring the previous year's figure. The total export volume increased at an average annual rate of +5.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of propylene, other olefin polymers; polyisobutylene in primary formses soared to $371M in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +14.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +85.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 56% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms from South Korea in 2022:

1. China (66.4K tons)
2. Singapore (35.8K tons)
3. United States (15.4K tons)
4. India (14.6K tons)
5. Australia (12.1K tons)
6. Netherlands (7.0K tons)
7. Italy (6.9K tons)
8. United Kingdom (6.8K tons)
9. France (6.3K tons)
10. South Africa (3.2K tons)
11. Thailand (3.1K tons)

Imports of Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms in South Korea

Imports of propylene, other olefin polymers; polyisobutylene in primary formses into South Korea declined to 1.1K tons in 2022, with a decrease of -9.7% on the year before. Overall, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year.

In value terms, imports of propylene, other olefin polymers; polyisobutylene in primary formses rose to $7.2M in 2022. In general, imports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year.

Top Suppliers of Propylene, Other Olefin Polymers; Polyisobutylene in Primary Forms to South Korea in 2022:

1. Canada (307.2 tons)
2. Germany (253.0 tons)
3. United States (234.4 tons)
4. China (164.4 tons)
5. Japan (116.7 tons)
6. India (48.0 tons)
7. Netherlands (0.3 tons)

Source: IndexBox Market Intelligence Platform