Republic of Korea: Polyvinyl Chloride Market 2024

Polyvinyl Chloride Market Size in Republic of Korea

The South Korean polyvinyl chloride market fell slightly to $X in 2022, declining by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Polyvinyl chloride consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Polyvinyl Chloride Production in Republic of Korea

In value terms, polyvinyl chloride production reduced notably to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production attained the peak level of $X, and then plummeted in the following year.

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Polyvinyl Chloride Exports

Exports from Republic of Korea

In 2022, the amount of polyvinyl chloride exported from South Korea stood at X tons, standing approx. at the previous year's figure. In general, exports, however, continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, polyvinyl chloride exports shrank rapidly to $X in 2022. Overall, exports, however, continue to indicate a slight descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

India (X tons) was the main destination for polyvinyl chloride exports from South Korea, with a X% share of total exports. Moreover, polyvinyl chloride exports to India exceeded the volume sent to the second major destination, Turkey (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Vietnam (X% per year).

In value terms, India ($X) remains the key foreign market for polyvinyl chloride exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Turkey ($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 India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average polyvinyl chloride export price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced dramatically in the following year.

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 Arab Emirates ($X per ton), while the average price for exports to Poland ($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 Iran (X%), while the prices for the other major destinations experienced more modest paces of growth.

Polyvinyl Chloride Imports

Imports into Republic of Korea

In 2022, overseas purchases of polyvinyl chloride increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, saw a pronounced decrease. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, polyvinyl chloride imports expanded significantly to $X in 2022. In general, imports, however, continue to indicate a perceptible reduction. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of polyvinyl chloride imports to South Korea, together comprising X% of total imports. Thailand, Germany, Norway, Malaysia and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polyvinyl chloride suppliers to South Korea were China ($X), the United States ($X) and Germany ($X), together accounting for X% of total imports. Thailand, Japan, Norway, Malaysia and Belgium lagged somewhat behind, together accounting for a further X%.

Norway, with a CAGR of X%, recorded 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 polyvinyl chloride import price amounted to $X per ton, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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