Republic of Korea: Triethanolamine Market 2024

Triethanolamine Market Size in Republic of Korea

The South Korean triethanolamine market shrank remarkably to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption continues to indicate a deep contraction. Triethanolamine consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Triethanolamine Production in Republic of Korea

In value terms, triethanolamine production contracted sharply to $X in 2022 estimated in export price. In general, production showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Triethanolamine Exports

Exports from Republic of Korea

In 2022, overseas shipments of triethanolamine and its salts increased by X% to X tons, rising for the third year in a row after two years of decline. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, triethanolamine exports reached $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), India (X tons) and Colombia (X tons) were the main destinations of triethanolamine exports from South Korea, with a combined X% share of total exports.

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

In value terms, India ($X), China ($X) and Thailand ($X) appeared to be the largest markets for triethanolamine exported from South Korea worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, India, with a CAGR of X%, recorded the highest growth rate of 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 triethanolamine export price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price showed a deep downturn. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to China ($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 Nicaragua (X%), while the prices for the other major destinations experienced a decline.

Triethanolamine Imports

Imports into Republic of Korea

For the third consecutive year, South Korea recorded growth in supplies from abroad of triethanolamine and its salts, which increased by X% to X tons in 2022. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, triethanolamine imports totaled $X in 2022. Over the period under review, imports saw a moderate expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Malaysia (X tons), the United States (X tons) and Thailand (X tons) were the main suppliers of triethanolamine imports to South Korea, together comprising X% of total imports. Mexico, Japan and Germany lagged somewhat behind, together accounting for a further X%.

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

In value terms, Thailand ($X), Malaysia ($X) and the United States ($X) constituted the largest triethanolamine suppliers to South Korea, with a combined X% share of total imports. Japan, Mexico and Germany lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Germany, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average triethanolamine import price amounted to $X per ton, standing approx. at the previous year. In general, the import price, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure 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 Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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