Report Republic of Korea - Benzene - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Apr 12, 2022

Republic of Korea - Benzene - Market Analysis, Forecast, Size, Trends and Insights
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Republic of Korea: Benzene Market 2022

Benzene Market Size in Republic of Korea

In 2020, the South Korean benzene market decreased by -X% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, showed a slight downturn. The pace of growth appeared the most rapid in 2017 when the market value increased by X% y-o-y. Benzene consumption peaked at $X in 2014; however, from 2015 to 2020, consumption stood at a somewhat lower figure.

Benzene Production in Republic of Korea

In value terms, benzene production fell remarkably to $X in 2020 estimated in export prices. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% year-to-year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2020, production failed to regain the momentum.

Benzene Exports

Exports from Republic of Korea

In 2020, approx. X tonnes of benzene were exported from South Korea; with a decrease of -X% compared with 2019. In general, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, exports attained the maximum at X tonnes in 2017; however, from 2018 to 2020, exports failed to regain the momentum.

In value terms, benzene exports fell notably to $X in 2020. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X% y-o-y. Exports peaked at $X in 2014; however, from 2015 to 2020, exports remained at a lower figure.

Exports by Country

China (X tonnes), the United States (X tonnes) and Taiwan (Chinese) (X tonnes) were the main destinations of benzene exports from South Korea, with a combined X% share of total exports.

From 2007 to 2020, the biggest increases were in China, while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Taiwan (Chinese) ($X) constituted the largest markets for benzene exported from South Korea worldwide, together comprising X% of total exports.

In terms of the main countries of destination, China saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average benzene export price stood at $X per tonne in 2020, falling by -X% against the previous year. Overall, the export price saw a abrupt curtailment. The pace of growth was the most pronounced in 2010 an increase of X% y-o-y. Over the period under review, average export prices attained the peak figure at $X per tonne in 2013; however, from 2014 to 2020, export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2020, the countries with the highest prices were the United States ($X per tonne) and Japan ($X per tonne), while the average price for exports to China ($X per tonne) and Taiwan (Chinese) ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United States, while the prices for the other major destinations experienced a decline.

Benzene Imports

Imports into Republic of Korea

In 2020, benzene imports into South Korea skyrocketed to X tonnes, increasing by X% on the previous year's figure. In general, imports, however, continue to indicate a abrupt descent. Imports peaked at X tonnes in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, benzene imports skyrocketed to $X in 2020. Overall, imports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of X% year-to-year. Over the period under review, imports attained the maximum at $X in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Japan (X tonnes) was the main benzene supplier to South Korea, accounting for a approx. X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of volume from Japan stood at -X%.

In value terms, Japan ($X) constituted the largest supplier of benzene to South Korea.

From 2007 to 2020, the average annual growth rate of value from Japan totaled -X%.

Import Prices by Country

The average benzene import price stood at $X per tonne in 2020, declining by -X% against the previous year. Overall, the import price saw a perceptible setback. The pace of growth was the most pronounced in 2018 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2013; however, from 2014 to 2020, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Japan.

From 2007 to 2020, the rate of growth in terms of prices for Japan amounted to -X% per year.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tonnes

Frequently Asked Questions (FAQ) :

What are the largest markets for benzene in the world?
+
The countries with the highest volumes of benzene consumption in 2020 were China, the United States and India, together accounting for 39% of global consumption. These countries were followed by Japan, Pakistan, Brazil, Indonesia, Bangladesh, Mexico, Turkey, the UK, Belgium and Iran, which together accounted for a further 28%.
What are the largest producers of benzene in the world?
+
The countries with the highest volumes of benzene production in 2020 were China, India and the United States, with a combined 37% share of global production. These countries were followed by Japan, South Korea, Pakistan, Brazil, Bangladesh, Indonesia, Mexico, Turkey, the UK and Thailand, which together accounted for a further 32%.
What are the leading suppliers of benzene to Republic of Korea?
+
In value terms, Japan constituted the largest supplier of benzene to South Korea.
What are the leading importers of benzene from Republic of Korea?
+
In value terms, the largest markets for benzene exported from South Korea were China, the United States and Taiwan Chinese), with a combined 96% share of total exports.
What is the average export price for benzene in Republic of Korea?
+
In 2020, the average benzene export price amounted to $488 per tonne, shrinking by -23.5% against the previous year.
What is the average import price for benzene in Republic of Korea?
+
The average benzene import price stood at $582 per tonne in 2020, reducing by -11.9% against the previous year.

This report provides an in-depth analysis of the benzene 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 2025.


Product coverage:
• Prodcom 20141223 - Benzene
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2007–2021
Table 3:
Market Value, 2007–2021
Table 4:
Per Capita Consumption In 2007–2021
Table 5:
Imports, In Physical Terms, By Country, 2007–2021
Table 6:
Imports, In Value Terms, By Country, 2007–2021
Table 7:
Import Prices, By Country Of Origin, 2007–2021
Table 8:
Exports, In Physical Terms, By Country, 2007–2021
Table 9:
Exports, In Value Terms, By Country, 2007–2021
Table 10:
Export Prices, By Country Of Destination, 2007–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2021
Figure 2:
Market Value, 2007–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2021
Figure 5:
Trade Balance, In Physical Terms, 2007–2021
Figure 6:
Trade Balance, In Value Terms, 2007–2021
Figure 7:
Per Capita Consumption, 2007–2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2021
Figure 21:
Production, In Value Terms, 2007–2021
Figure 22:
Imports, In Physical Terms, 2007–2021
Figure 23:
Imports, In Value Terms, 2007–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2007–2021
Figure 26:
Imports, In Value Terms, By Country, 2007–2021
Figure 27:
Import Prices, By Country Of Origin, 2007–2021
Figure 28:
Exports, In Physical Terms, 2007–2021
Figure 29:
Exports, In Value Terms, 2007–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2007–2021
Figure 32:
Exports, In Value Terms, By Country, 2007–2021
Figure 33:
Export Prices, By Country Of Destination, 2007–2021
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