Republic of Korea: Market for Hormones, Prostaglandins, Thromboxanes And Leukotrienes 2023

Market Size for Hormones, Prostaglandins, Thromboxanes And Leukotrienes in Republic of Korea

For the fifth consecutive year, the South Korean market for hormones, prostaglandins, thromboxanes and leukotrienes recorded growth in sales value, which increased by 2.5% to $X in 2021. In general, consumption enjoyed a prominent increase. Hormones, prostaglandins, thromboxanes and leukotrienes consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Hormones, Prostaglandins, Thromboxanes And Leukotrienes in Republic of Korea

In value terms, hormones, prostaglandins, thromboxanes and leukotrienes production dropped to $X in 2021 estimated in export price. Overall, production, however, recorded buoyant growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 63% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Exports of Hormones, Prostaglandins, Thromboxanes And Leukotrienes

Exports from Republic of Korea

In 2021, shipments abroad of hormones, prostaglandins, thromboxanes and leukotrienes decreased by -42.4% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, showed a slight expansion. The pace of growth was the most pronounced in 2015 with an increase of 82% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, hormones, prostaglandins, thromboxanes and leukotrienes exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed buoyant growth. The growth pace was the most rapid in 2018 when exports increased by 69% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Austria (X tons), Croatia (X tons) and the United States (X kg) were the main destinations of hormones, prostaglandins, thromboxanes and leukotrienes exports from South Korea, with a combined 47% share of total exports. Poland, China, the Netherlands, Romania, Brazil, Japan, Bulgaria, India, Spain and Canada lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of +1,900.0%), while the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Croatia ($X) and Japan ($X) were the largest markets for hormones, prostaglandins, thromboxanes and leukotrienes exported from South Korea worldwide, together accounting for 32% of total exports. These countries were followed by Poland, the United States, China, Romania, Brazil, Spain, the Netherlands, India, Bulgaria and Canada, which together accounted for a further 18%.

In terms of the main countries of destination, Romania, with a CAGR of +201.8%, 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

The average export price for hormones, prostaglandins, thromboxanes and leukotrienes stood at $X per kg in 2021, jumping by 127% against the previous year. In general, the export price posted a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per kg), while the average price for exports to Bulgaria ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hormones, Prostaglandins, Thromboxanes And Leukotrienes

Imports into Republic of Korea

In 2021, the amount of hormones, prostaglandins, thromboxanes and leukotrienes imported into South Korea skyrocketed to X tons, picking up by 111% on the previous year. Overall, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hormones, prostaglandins, thromboxanes and leukotrienes imports amounted to $X in 2021. Over the period under review, imports saw a strong increase. The growth pace was the most rapid in 2018 with an increase of 26%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

The United States (X tons), China (X tons) and Italy (X tons) were the main suppliers of hormones, prostaglandins, thromboxanes and leukotrienes imports to South Korea, together accounting for 62% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +14.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of hormones, prostaglandins, thromboxanes and leukotrienes to South Korea, comprising 22% of total imports. The second position in the ranking was taken by Italy ($X), with a 6.7% share of total imports. It was followed by India, with a 6% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.4% per year) and India (+15.3% per year).

Import Prices by Country

In 2021, the average import price for hormones, prostaglandins, thromboxanes and leukotrienes amounted to $X per kg, declining by -47.2% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 47% against the previous year. The import price peaked at $X per kg in 2020, and then declined notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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