Republic of Korea: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Republic of Korea

The South Korean market for polyethylene with a specific gravity of less than X, in primary forms reached $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Republic of Korea

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production of growth failed to regain momentum.

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Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Republic of Korea

In 2022, the amount of polyethylene with a specific gravity of less than X, in primary forms exported from South Korea fell to X tons, which is down by X% on the previous year. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports of reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms fell slightly to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports of reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for exports of polyethylene with a specific gravity of less than X, in primary forms from South Korea, with a X% share of total exports. Moreover, exports of polyethylene with a specific gravity of less than X, in primary forms to China exceeded the volume sent to the second major destination, Vietnam (X tons), fivefold. The third position in this ranking was held by Russia (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Russia (X% per year).

In value terms, China ($X) remains the key foreign market for polyethylene with a specific gravity of less than X, in primary forms exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Russia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the average export price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, growing by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

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

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Republic of Korea

In 2022, supplies from abroad of polyethylene with a specific gravity of less than X, in primary forms decreased by X% to X tons, falling for the third consecutive year after eight years of growth. In general, imports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms declined dramatically to $X in 2022. Overall, total imports indicated measured 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports of hit record highs at $X in 2021, and then fell notably in the following year.

Imports by Country

The United States (X tons), Saudi Arabia (X tons) and Qatar (X tons) were the main suppliers of imports of polyethylene with a specific gravity of less than X, in primary forms to South Korea, together comprising X% of total imports.

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

In value terms, Saudi Arabia ($X), the United States ($X) and Sweden ($X) appeared to be the largest polyethylene with a specific gravity of less than X suppliers to South Korea, together accounting for X% of total imports. Japan, Qatar, China, Thailand, Malaysia and Singapore lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Qatar, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average import price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, rising by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Sweden ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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