Republic of Korea: Compound Plasticisers Market 2022

Compound Plasticisers Market Size in Republic of Korea

In 2021, the South Korean compound plasticisers market decreased by -X% to $X for the first time since 2014, thus ending a six-year rising trend. The market value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Compound plasticisers consumption peaked at $X in 2020, and then fell modestly in the following year.

Compound Plasticisers Production in Republic of Korea

In value terms, compound plasticisers production rose to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Compound Plasticisers Exports

Exports from Republic of Korea

In 2021, overseas shipments of compound plasticisers for rubber or plastics increased by X% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, compound plasticisers exports expanded significantly to $X in 2021. Overall, exports, however, saw a perceptible reduction. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons), China (X tons) and Vietnam (X tons) were the main destinations of compound plasticisers exports from South Korea, together accounting for X% of total exports. These countries were followed by Russia, Hong Kong SAR, Oman, Turkey, the Dominican Republic, Saudi Arabia, Belgium and Egypt, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (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 China ($X), Singapore ($X) and Oman ($X), together comprising X% of total exports. These countries were followed by Hong Kong SAR, Vietnam, the Dominican Republic, Russia, Turkey, Saudi Arabia, Egypt and Belgium, which together accounted for a further X terms of the main countries of destination, Belgium, with a CAGR of +X%, recorded the highest rates of growth with regard to 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 2021, the average compound plasticisers export price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Oman ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Compound Plasticisers Imports

Imports into Republic of Korea

In 2021, imports of compound plasticisers for rubber or plastics into South Korea fell to X tons, declining by -X% against 2020. In general, imports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, compound plasticisers imports reached $X in 2021. Overall, imports, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of compound plasticisers imports to South Korea, with a combined X% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Japan ($X) appeared to be the largest compound plasticisers suppliers to South Korea, together comprising X% of total imports. These countries were followed by the United States, which accounted for a further X United States, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, among 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 2021, surging by X% against the previous year. Over the period under review, the import price, however, saw a perceptible contraction. The growth pace was the most rapid in 2019 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably countryorigin: the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, 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 a decline.

Source: IndexBox Market Intelligence Platform

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