Republic of Korea: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Republic of Korea

The South Korean acrylic acid esters market expanded remarkably to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption recorded a strong increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Acrylic Acid Esters Production in Republic of Korea

In value terms, acrylic acid esters production expanded rapidly to $X in 2022 estimated in export price. In general, production saw resilient growth. The growth pace was the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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Acrylic Acid Esters Exports

Exports from Republic of Korea

In 2022, the amount of esters of acrylic acid exported from South Korea dropped to X tons, falling by X% on 2021. Over the period under review, exports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, acrylic acid esters exports fell to $X in 2022. Overall, exports showed a noticeable setback. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), India (X tons) and the United States (X tons) were the main destinations of acrylic acid esters exports from South Korea, with a combined X% share of total exports. The Netherlands, Japan, Thailand, Taiwan (Chinese), Vietnam, Germany, Spain, Belgium, Brazil and Indonesia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for acrylic acid esters exported from South Korea were China ($X), the United States ($X) and India ($X), with a combined X% share of total exports. Japan, the Netherlands, Taiwan (Chinese), Thailand, Vietnam, Spain, Germany, Belgium, Brazil and Indonesia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Spain, with a CAGR of X%, 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 more modest paces of growth.

Export Prices by Country

The average acrylic acid esters export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price 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, acrylic acid esters export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

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

Acrylic Acid Esters Imports

Imports into Republic of Korea

In 2022, overseas purchases of esters of acrylic acid decreased by X% to X tons, falling for the second year in a row after five years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, acrylic acid esters imports shrank to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of acrylic acid esters imports to South Korea, together accounting for X% of total imports.

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

In value terms, the largest acrylic acid esters suppliers to South Korea were China ($X), Japan ($X) and the United States ($X), together accounting for X% of total imports.

Among the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average acrylic acid esters import price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price recorded a noticeable decrease. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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