Republic of Korea: Market for Acid And Mordant Dyes And Preparations Based Thereon 2024

Market Size for Acid And Mordant Dyes And Preparations Based Thereon in Republic of Korea

In 2021, the South Korean acid and mordant dye market increased by 20% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a perceptible descent. Acid and mordant dye consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Acid And Mordant Dyes And Preparations Based Thereon in Republic of Korea

In value terms, acid and mordant dye production declined slightly to $X in 2021 estimated in export price. In general, production continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2017 with an increase of 27%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Acid And Mordant Dyes And Preparations Based Thereon

Exports from Republic of Korea

In 2021, overseas shipments of acid and mordant dyes and preparations based thereon increased by 30% to X tons, rising for the third consecutive year after six years of decline. In general, exports, however, recorded a noticeable shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, acid and mordant dye exports skyrocketed to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Pakistan (X tons) was the main destination for acid and mordant dye exports from South Korea, with a 42% share of total exports. Moreover, acid and mordant dye exports to Pakistan exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume to Pakistan totaled +39.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+12.7% per year) and China (-15.9% per year).

In value terms, the largest markets for acid and mordant dye exported from South Korea were Pakistan ($X), China ($X) and Vietnam ($X), with a combined 65% share of total exports. Bangladesh, Taiwan (Chinese), Indonesia, Japan, Thailand and Hong Kong SAR lagged somewhat behind, together comprising a further 28%.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +56.2%, recorded the highest rates of growth with regard to 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

In 2021, the average acid and mordant dye export price amounted to $X per ton, shrinking by -3.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2014 an increase of 31% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, among the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Acid And Mordant Dyes And Preparations Based Thereon

Imports into Republic of Korea

In 2021, supplies from abroad of acid and mordant dyes and preparations based thereon increased by 32% to X tons for the first time since 2013, thus ending a seven-year declining trend. Over the period under review, imports, however, continue to indicate a pronounced downturn. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, acid and mordant dye imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Thailand (X tons) were the main suppliers of acid and mordant dye imports to South Korea, with a combined 96% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +0.8%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), India ($X) and Thailand ($X) appeared to be the largest acid and mordant dye suppliers to South Korea, together comprising 81% of total imports.

In terms of the main suppliers, India, with a CAGR of +4.3%, recorded 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 2021, the average acid and mordant dye import price amounted to $X per ton, with an increase of 6.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.2%. The pace of growth was the most pronounced in 2014 an increase of 35%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, among the top importers, the country with the highest price was Thailand ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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