Republic of Korea: P-Xylene Market 2024

P-Xylene Market Size in Republic of Korea

In 2022, the South Korean p-xylene market increased by X% to $X, rising for the fifth consecutive year after five years of decline. In general, consumption, however, showed a abrupt downturn. P-xylene consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

P-Xylene Production in Republic of Korea

In value terms, p-xylene production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

P-Xylene Exports

Exports from Republic of Korea

In 2022, approx. X tons of p-xylene were exported from South Korea; with a decrease of X% on the previous year's figure. Overall, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, p-xylene exports expanded markedly to $X in 2022. In general, total exports indicated a remarkable increase 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for p-xylene exports from South Korea, with a X% share of total exports. Moreover, p-xylene exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and the United States (X% per year).

In value terms, China ($X) remains the key foreign market for p-xylene exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average p-xylene export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, recorded a noticeable contraction. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 the United States (X%), while the prices for the other major destinations experienced a decline.

P-Xylene Imports

Imports into Republic of Korea

In 2022, supplies from abroad of p-xylene increased by X% to X tons, rising for the second year in a row after eight years of decline. Overall, imports, however, continue to indicate a precipitous setback. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, p-xylene imports skyrocketed to $X in 2022. In general, imports, however, recorded a dramatic descent. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of p-xylene imports to South Korea, together comprising X% of total imports.

From 2012 to 2022, 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 a decline.

In value terms, the largest p-xylene 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 a decline.

Import Prices by Country

In 2022, the average p-xylene import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, showed a mild decrease. The pace of growth was the most pronounced in 2018 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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