Republic of Korea: Market for Ammonia In Aqueous Solution 2024

Market Size for Ammonia In Aqueous Solution in Republic of Korea

The South Korean ammonia in aqueous solution market expanded to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption posted a strong increase. Ammonia in aqueous solution consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Ammonia In Aqueous Solution in Republic of Korea

In value terms, ammonia in aqueous solution production expanded to $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Ammonia In Aqueous Solution

Exports from Republic of Korea

In 2022, overseas shipments of ammonia in aqueous solution decreased by X% to X tons, falling for the third year in a row after six years of growth. Overall, exports, however, continue to indicate perceptible growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, ammonia in aqueous solution exports reached $X in 2022. In general, exports, however, continue to indicate a pronounced increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for ammonia in aqueous solution exports from South Korea, with a X% share of total exports. Moreover, ammonia in aqueous solution exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), sixfold. The third position in this ranking was held by Belgium (X tons), with a X% share.

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

In value terms, China ($X) remains the key foreign market for ammonia in aqueous solution exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Belgium, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Belgium (X% per year).

Export Prices by Country

In 2022, the average ammonia in aqueous solution export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, saw a mild curtailment. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure 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 Belgium ($X per ton), while the average price for exports to China ($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 Belgium (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Ammonia In Aqueous Solution

Imports into Republic of Korea

In 2022, the amount of ammonia in aqueous solution imported into South Korea surged to X tons, jumping by X% on the year before. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ammonia in aqueous solution imports surged to $X in 2022. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of ammonia in aqueous solution to South Korea, with a X% share of total imports. Moreover, ammonia in aqueous solution imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. China (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Japan ($X), the United States ($X) and Germany ($X) were the largest ammonia in aqueous solution suppliers to South Korea, together comprising X% of total imports.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ammonia in aqueous solution import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price, however, enjoyed a tangible increase. 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 fell in the following year.

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

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

Source: IndexBox Platform

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