Republic of Korea: Ammonium Chloride Market 2024

Ammonium Chloride Market Size in Republic of Korea

In 2021, the South Korean ammonium chloride market increased by 54% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Ammonium Chloride Exports

Exports from Republic of Korea

In 2021, the amount of ammonium chloride exported from South Korea contracted markedly to X tons, dropping by -96.7% compared with the year before. Over the period under review, exports recorded a dramatic setback. The most prominent rate of growth was recorded in 2015 with an increase of 4,983% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, ammonium chloride exports plummeted to $X in 2021. In general, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2015 when exports increased by 7,328%. The exports peaked at $X in 2020, and then contracted sharply in the following year.

Exports by Country

Ecuador (X tons), the Dominican Republic (X kg) and India (X kg) were the main destinations of ammonium chloride exports from South Korea, with a combined 28% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +30.3%), while the other leaders experienced a decline.

In value terms, the Dominican Republic ($X) emerged as the key foreign market for ammonium chloride exports from South Korea, comprising 12% of total exports. The second position in the ranking was held by India ($X), with a 5.3% share of total exports. It was followed by China, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic amounted to +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-36.5% per year) and China (-18.5% per year).

Export Prices by Country

In 2021, the average ammonium chloride export price amounted to $X per ton, picking up by 7.1% against the previous year. Overall, the export price continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by 115%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Ecuador ($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 China (+55.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonium Chloride Imports

Imports into Republic of Korea

In 2021, purchases abroad of ammonium chloride increased by 21% to X tons, rising for the third consecutive year after two years of decline. Overall, total imports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.6% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 42% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, ammonium chloride imports soared to $X in 2021. In general, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of ammonium chloride to South Korea, accounting for a 92% share of total imports. Moreover, ammonium chloride imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.2% per year) and Germany (+2.5% per year).

In value terms, China ($X) constituted the largest supplier of ammonium chloride to South Korea, comprising 72% of total imports. The second position in the ranking was held by Japan ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.2% per year) and Germany (+7.7% per year).

Import Prices by Country

The average ammonium chloride import price stood at $X per ton in 2021, growing by 31% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :