Republic of Korea: Saturated Acyclic Hydrocarbons Market 2024

Saturated Acyclic Hydrocarbons Market Size in Republic of Korea

In 2022, the South Korean saturated acyclic hydrocarbons market increased by X% to $X, rising for the third year in a row after six years of decline. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Saturated acyclic hydrocarbons consumption peaked in 2022 and is likely to continue growth in the near future.

Saturated Acyclic Hydrocarbons Production in Republic of Korea

In value terms, saturated acyclic hydrocarbons production contracted sharply to $X in 2022 estimated in export price. Overall, production showed a dramatic slump. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

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Saturated Acyclic Hydrocarbons Exports

Exports from Republic of Korea

In 2022, approx. X tons of saturated acyclic hydrocarbons were exported from South Korea; waning by X% compared with the previous year's figure. In general, exports showed a noticeable reduction. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, saturated acyclic hydrocarbons exports fell modestly to $X in 2022. Over the period under review, exports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons), the Philippines (X tons) and Japan (X tons) were the main destinations of saturated acyclic hydrocarbons exports from South Korea, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), India ($X) and the Philippines ($X) constituted the largest markets for saturated acyclic hydrocarbons exported from South Korea worldwide, together accounting for X% of total exports.

Among the main countries of destination, the Philippines, 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

The average saturated acyclic hydrocarbons export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price enjoyed a mild expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Philippines ($X 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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Saturated Acyclic Hydrocarbons Imports

Imports into Republic of Korea

Saturated acyclic hydrocarbons imports into South Korea soared to X tons in 2022, rising by X% against the year before. Overall, imports posted a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, saturated acyclic hydrocarbons imports soared to $X in 2022. Over the period under review, imports recorded resilient growth. The pace of growth was the most pronounced in 2018 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) was the main supplier of saturated acyclic hydrocarbons to South Korea, with a X% share of total imports. Moreover, saturated acyclic hydrocarbons imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and China (X% per year).

In value terms, the United States ($X) constituted the largest supplier of saturated acyclic hydrocarbons to South Korea, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average saturated acyclic hydrocarbons import price amounted to $X per ton, jumping by X% against the previous year. In general, the import price, however, saw a abrupt slump. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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