Republic of Korea - Styrene - Market Analysis, Forecast, Size, Trends And Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingStyrene Price in South Korea - 2022
Contents:
- Styrene Price in South Korea (FOB) - 2022
- Styrene Price in South Korea (CIF) - 2022
- Styrene Exports in South Korea
- Styrene Imports in South Korea
Styrene Price in South Korea (FOB) - 2022
The average styrene export price stood at $970 per ton in December 2022, increasing by 2.4% against the previous month. In general, the export price, however, saw a slight slump. The most prominent rate of growth was recorded in February 2022 when the average export price increased by 6.8% m-o-m. Over the period under review, the average export prices attained the peak figure at $1,385 per ton in June 2022; however, from July 2022 to December 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major foreign markets. In December 2022, the countries with the highest prices were India ($996 per ton) and Taiwan (Chinese) ($975 per ton), while the average price for exports to Hong Kong SAR ($946 per ton) and Japan ($974 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 Turkey (-0.2%), while the prices for the other major destinations experienced a decline.
Styrene Price in South Korea (CIF) - 2022
In December 2022, the average styrene import price amounted to $1,008 per ton, rising by 1.6% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2022 when the average import price increased by 8.4% against the previous month. The import price peaked at $1,424 per ton in June 2022; however, from July 2022 to December 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the countries with the highest prices were Kuwait ($1,036 per ton) and Saudi Arabia ($1,015 per ton), while the price for China ($1,000 per ton) and Japan ($1,004 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Kuwait (0.0%), while the prices for the other major suppliers experienced a decline.
Styrene Exports in South Korea
Styrene exports from South Korea expanded significantly to 727K tons in 2022, picking up by 5.5% against the previous year. The total export volume increased at an average annual rate of +2.8% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 13%. As a result, the exports reached the peak of 759K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, styrene exports dropped sharply to $663M in 2022. The total export value increased at an average annual rate of +1.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 45%. As a result, the exports reached the peak of $784M, and then shrank remarkably in the following year.
Export of Styrene in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Hong Kong SAR | 174 | 169 | 269 | 210 | 6.5% |
Taiwan (Chinese) | 86.5 | 133 | 249 | 195 | 31.1% |
India | 150 | 56.2 | 155 | 121 | -6.9% |
China | 136 | 125 | 68.7 | 85.0 | -14.5% |
Thailand | 52.1 | 30.7 | 17.5 | 25.8 | -20.9% |
Vietnam | 12.0 | 14.5 | 2.8 | 7.5 | -14.5% |
Others | 24.7 | 13.7 | 22.8 | 18.6 | -9.0% |
Total | 636 | 542 | 784 | 663 | 1.4% |
Top Export Markets for Styrene from South Korea in 2022:
- Hong Kong SAR (221.9K tons)
- Taiwan (Chinese) (203.5K tons)
- India (124.2K tons)
- China (119.9K tons)
- Thailand (32.8K tons)
- Vietnam (10.9K tons)
Styrene Imports in South Korea
In 2022, approx. 580K tons of styrene were imported into South Korea; increasing by 34% compared with the previous year's figure. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +5.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -20.2% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 48%. As a result, imports attained the peak of 727K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, styrene imports amounted to $518M in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 5%. As a result, imports attained the peak of $534M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
Import of Styrene in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 158 | 208 | 281 | 238 | 14.6% |
United States | 306 | 269 | 98.4 | 187 | -15.1% |
China | 12.5 | 21.8 | 75.6 | 64.0 | 72.4% |
Saudi Arabia | 9.4 | 6.1 | 15.3 | 13.0 | 11.4% |
Taiwan (Chinese) | 11.5 | 15.3 | 3.7 | 8.5 | -9.6% |
Others | 10.5 | 13.7 | 27.1 | 6.3 | -15.7% |
Total | 508 | 534 | 502 | 518 | 0.7% |
Top Suppliers of Styrene to South Korea in 2022:
- United States (255.5K tons)
- Japan (235.4K tons)
- China (59.5K tons)
- Saudi Arabia (12.1K tons)
- Taiwan (Chinese) (10.3K tons)
This report provides an in-depth analysis of the styrene market 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 20141250 - Styrene
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.
-
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
-
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
-
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
-
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
-
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
-
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
-
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
This report provides an in-depth analysis of the styrene market in Republic of Korea.
This report provides an in-depth analysis of the cyclic hydrocarbons market in Republic of Korea.
This report provides an in-depth analysis of the benzene market in Republic of Korea.
This report provides an in-depth analysis of the cumene market in Republic of Korea.
This report provides an in-depth analysis of the market for cyclanes, cyclenes and cycloterpenes in Republic of Korea.
This report provides an in-depth analysis of the cyclohexane market in Republic of Korea.
This report provides an in-depth analysis of the ethylbenzene market in Republic of Korea.
This report provides an in-depth analysis of the m-xylene and xylenes market in Republic of Korea.
This report provides an in-depth analysis of the o-xylene market in Republic of Korea.
This report provides an in-depth analysis of the cyclic hydrocarbons market in Republic of Korea.
From January-October 2021, South Korea supplied abroad 2.0M tons of benzene, which was 10% more than in the same period a year earlier. Due to rising prices, exports in value terms spiked more than twofold, reaching $1.8B. Most of the increment was provided by expanded supplies to China and Japan. By the end of this year, the total value of benzene exported from Korea could exceed $2.2B, setting a new record.
Explore the top import markets for styrene and their key statistics. Learn about the demand, trends, and opportunities in the global styrene industry.
In 2018, approx. 9.4M tons of styrene were exported worldwide; coming down by -8.6% against the previous year
Explore the top countries leading in the import of cyclic hydrocarbons, their import values, and key statistics in 2022.
From 2010 to 2020, the average export price for cyclic hydrocarbons dropped nearly twofold, from $1,119 per ton to $615 per ton. That was the lowest level over the past decade.
In 2016, the amount of cyclic hydrocarbon imported worldwide totaled X tons, growing by X% against the previous year figure. The total import volume increased at an average annual rate of +X% ov...
In 2016, the amount of cyclic hydrocarbon imported worldwide totaled X tons, growing by X% against the previous year figure. The total import volume increased at an average annual rate of +X% ov...
The global trade in cyclic hydrocarbons fluctuated strongly over the period under review. A significant drop in 2009 was followed by a robust recovery over the next four years, until exports decreased again. Exports ended on a decline in 2015, amountin
In value terms, petroleum oils and crude bituminous minerals oils imports amounted to $X in 2016. Overall, petroleum oils and crude bituminous minerals oils imports continue to indicate a abrupt co...
In value terms, petroleum oils and not crude bituminous minerals oils imports stood at $X in 2016. In general, petroleum oils and not crude bituminous minerals oils imports continue to indicate a m...