Republic of Korea: Compound Plasticisers Market 2024

Compound Plasticisers Market Size in Republic of Korea

In 2023, the South Korean compound plasticisers market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption saw a pronounced shrinkage. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Compound Plasticisers Production in Republic of Korea

In value terms, compound plasticisers production fell to $X in 2023 estimated in export price. In general, production saw a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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Compound Plasticisers Exports

Exports from Republic of Korea

In 2023, overseas shipments of compound plasticisers for rubber or plastics were finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, exports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, compound plasticisers exports surged to $X in 2023. In general, exports, however, recorded a abrupt descent. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Mexico (X tons), China (X tons) and Brazil (X tons) were the main destinations of compound plasticisers exports from South Korea, together comprising X% of total exports. Malaysia, Egypt, Greece, Turkey and Chile lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for compound plasticisers exported from South Korea were Mexico ($X), China ($X) and Brazil ($X), with a combined X% share of total exports. Malaysia, Egypt, Greece, Turkey and Chile lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Greece, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average compound plasticisers export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2023 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Iran (X%), while the prices for the other major destinations experienced mixed trend patterns.

Compound Plasticisers Imports

Imports into Republic of Korea

After three years of growth, supplies from abroad of compound plasticisers for rubber or plastics decreased by X% to X tons in 2023. Over the period under review, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2022, and then contracted in the following year.

In value terms, compound plasticisers imports shrank to $X in 2023. Overall, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2022, and then dropped in the following year.

Imports by Country

China (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of compound plasticisers imports to South Korea, together comprising X% of total imports. Poland, Estonia and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Poland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Japan ($X) were the largest compound plasticisers suppliers to South Korea, together accounting for X% of total imports. Poland, the United States and Estonia lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average compound plasticisers import price stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the import price, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform