Republic of Korea: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Republic of Korea

The South Korean market for polyethylene terephthalate and other polyethylene terephthalate in primary forms contracted to $X in 2022, dropping by X% against the previous year. Overall, consumption showed a abrupt decline. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Republic of Korea

In value terms, production of polyethylene terephthalate and other polyethylene terephthalate in primary forms declined to $X in 2022 estimated in export price. In general, production recorded a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, production of reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports from Republic of Korea

In 2022, overseas shipments of polyethylene terephthalate and other polyethylene terephthalate in primary forms were finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. In general, exports, however, recorded a precipitous setback. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms expanded remarkably to $X in 2022. Overall, exports, however, saw a precipitous descent. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Italy (X tons) and Vietnam (X tons) were the main destinations of exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from South Korea, with a combined X% share of total exports. Iran, the United States, Indonesia, Japan, Bulgaria, Turkey, Spain, Germany, Belgium and the United Arab Emirates lagged somewhat behind, together accounting for 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 Turkey (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, China ($X), Indonesia ($X) and Italy ($X) were the largest markets for polyethylene terephthalate and other polyethylene terephthalate in primary forms exported from South Korea worldwide, together accounting for X% of total exports. Vietnam, the United States, Japan, Iran, Turkey, Belgium, Bulgaria, Spain, the United Arab Emirates and Germany lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for polyethylene terephthalate and other polyethylene terephthalate in primary forms stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price recorded a noticeable slump. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Iran ($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 Indonesia (X%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports into Republic of Korea

In 2022, after ten years of growth, there was significant decline in overseas purchases of polyethylene terephthalate and other polyethylene terephthalate in primary forms, when their volume decreased by X% to X tons. Overall, imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms fell modestly to $X in 2022. Over the period under review, total imports indicated buoyant 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 2016 indices. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports of attained the maximum at $X in 2021, and then fell slightly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of polyethylene terephthalate and other polyethylene terephthalate in primary forms to South Korea, accounting for a X% share of total imports. Moreover, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with an X% share.

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

In value terms, the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms suppliers to South Korea were Malaysia ($X), China ($X) and Japan ($X), together comprising X% of total imports. Thailand, Indonesia, Taiwan (Chinese) and the Philippines lagged somewhat behind, together accounting for a further X%.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, continues to indicate a abrupt descent. The import price peaked 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 Malaysia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform