Waxes; Artificial, Prepared Price in South Korea - 2022
Contents:
- Waxes; Artificial, Prepared Price in South Korea (FOB) - 2022
- Waxes; Artificial, Prepared Price in South Korea (CIF) - 2022
- Waxes; Artificial, Prepared Exports in South Korea
- Waxes; Artificial, Prepared Imports in South Korea
Waxes; Artificial, Prepared Price in South Korea (FOB) - 2022
The average waxes; artificial, prepared export price stood at $1,443 per ton in 2022, dropping by -4.3% against the previous year. Overall, the export price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2018 an increase of 8.5% against the previous year. The export price peaked at $2,220 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($2,223 per ton), while the average price for exports to India ($1,184 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 China (-0.6%), while the prices for the other major destinations experienced a decline.
Waxes; Artificial, Prepared Price in South Korea (CIF) - 2022
The average waxes; artificial, prepared import price stood at $3,765 per ton in December 2022, which is down by -10.1% against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2022 an increase of 25% month-to-month. As a result, import price reached the peak level of $4,300 per ton. From February 2022 to December 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($8,848 per ton), while the price for Thailand ($1,166 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 Germany (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Waxes; Artificial, Prepared Exports in South Korea
In 2022, approx. 128K tons of waxes; artificial, prepared were exported from South Korea; picking up by 28% compared with the previous year's figure. In general, exports, however, saw a mild slump.
In value terms, waxes; artificial, prepared exports skyrocketed to $185M in 2022. Overall, exports, however, recorded a perceptible downturn.
| Export of Waxes; Artificial, Prepared in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 49.5 | 55.8 | 30.5 | 36.8 | -9.4% |
| India | 37.2 | 28.6 | 30.3 | 36.5 | -0.6% |
| Turkey | 24.7 | 33.1 | 26.3 | 31.8 | 8.8% |
| Vietnam | 14.4 | 15.3 | 9.0 | 10.8 | -9.1% |
| Indonesia | 11.4 | 10.3 | 6.3 | 7.7 | -12.3% |
| United States | 16.9 | 12.3 | 5.4 | 7.2 | -24.8% |
| United Arab Emirates | 5.8 | 7.4 | 4.6 | 5.6 | -1.2% |
| Netherlands | 0.9 | 2.1 | 4.6 | 5.5 | 82.8% |
| Saudi Arabia | 7.2 | 8.4 | 4.4 | 5.3 | -9.7% |
| Russia | 2.4 | 2.9 | 2.7 | 3.3 | 11.2% |
| Others | 43.7 | 42.9 | 27.8 | 34.8 | -7.3% |
| Total | 214 | 219 | 152 | 185 | -4.7% |
Top Export Markets for Waxes; Artificial, Prepared from South Korea in 2022:
- India (30.9K tons)
- Turkey (26.4K tons)
- China (22.0K tons)
- Vietnam (8.3K tons)
- United Arab Emirates (4.1K tons)
- United States (4.1K tons)
- Indonesia (4.0K tons)
- Netherlands (3.8K tons)
- Saudi Arabia (2.5K tons)
- Russia (2.5K tons)
Waxes; Artificial, Prepared Imports in South Korea
Waxes; artificial, prepared imports into South Korea reduced to 23K tons in 2022, flattening at the year before. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 4.4% against the previous year.
In value terms, waxes; artificial, prepared imports declined modestly to $72M in 2022. The total import value increased at an average annual rate of +5.2% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 14%.
| Import of Waxes; Artificial, Prepared in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.5 | 9.7 | 16.2 | 15.8 | 28.2% |
| United States | 16.5 | 16.7 | 13.5 | 13.5 | -6.5% |
| Germany | 10.7 | 11.4 | 11.6 | 11.4 | 2.1% |
| Japan | 6.5 | 7.6 | 7.0 | 6.9 | 2.0% |
| Malaysia | 5.4 | 6.1 | 6.9 | 6.7 | 7.5% |
| France | 3.4 | 4.1 | 3.9 | 3.8 | 3.8% |
| Singapore | 1.7 | 2.0 | 1.6 | 1.6 | -2.0% |
| Vietnam | 0.3 | 2.4 | 1.7 | 1.6 | 74.7% |
| Thailand | 0.8 | 0.9 | 1.0 | 1.0 | 7.7% |
| Indonesia | 0.4 | 0.7 | 0.9 | 0.9 | 31.0% |
| Saudi Arabia | 0.7 | 0.4 | 0.3 | 0.4 | -17.0% |
| Others | 7.8 | 8.5 | 8.3 | 8.1 | 1.3% |
| Total | 61.7 | 70.5 | 73.0 | 71.8 | 5.2% |
Top Suppliers of Waxes; Artificial, Prepared to South Korea in 2022:
- China (8.2K tons)
- Malaysia (3.4K tons)
- United States (3.1K tons)
- Germany (1.8K tons)
- Japan (1.5K tons)
- Vietnam (0.9K tons)
- Saudi Arabia (0.7K tons)
- Thailand (0.7K tons)
- Singapore (0.6K tons)
- Indonesia (0.6K tons)
- France (0.4K tons)
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