Republic of Korea: Acrylic Polymer Market 2024

Acrylic Polymer Market Size in Republic of Korea

The South Korean acrylic polymer market rose rapidly to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Acrylic Polymer Production in Republic of Korea

In value terms, acrylic polymer production reached $X in 2022 estimated in export price. Overall, the total production indicated moderate 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Acrylic polymer production peaked at $X in 2020; afterwards, it flattened through to 2022.

Acrylic Polymer Exports

Exports from Republic of Korea

In 2022, overseas shipments of acrylic polymers (in primary forms) decreased by X% to X tons for the first time since 2011, thus ending a ten-year rising trend. Overall, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined slightly in the following year.

In value terms, acrylic polymer exports rose modestly to $X in 2022. Over the period under review, total exports indicated a resilient expansion 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

China (X tons) was the main destination for acrylic polymer exports from South Korea, accounting for a X% share of total exports. Moreover, acrylic polymer exports to China exceeded the volume sent to the second major destination, Turkey (X tons), fourfold. The United States (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and the United States (X% per year).

In value terms, China ($X) remains the key foreign market for acrylic polymers (in primary forms) exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

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

Export Prices by Country

In 2022, the average acrylic polymer export price amounted to $X per ton, rising by X% against the previous year. Overall, the export price, however, saw a slight setback. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Sweden ($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 Turkey (X%), while the prices for the other major destinations experienced mixed trend patterns.

Acrylic Polymer Imports

Imports into Republic of Korea

In 2022, acrylic polymer imports into South Korea contracted to X tons, dropping by X% on the year before. In general, imports saw a mild descent. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, acrylic polymer imports fell to $X in 2022. Overall, imports recorded a slight setback. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of acrylic polymer imports to South Korea, together comprising X% of total imports. The United States, Singapore, Germany, Italy, the UK and the Netherlands lagged somewhat behind, together accounting for a further X%.

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

In value terms, Japan ($X), the United States ($X) and China ($X) were the largest acrylic polymer suppliers to South Korea, with a combined X% share of total imports. Germany, Taiwan (Chinese), Singapore, Italy, the Netherlands and the UK lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Italy, 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 acrylic polymer import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :