Republic of Korea: Anti-Freezing Preparations Market 2024

Anti-Freezing Preparations Market Size in Republic of Korea

In 2021, the South Korean anti-freezing preparations market decreased by -6.9% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +80.8% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2020, and then dropped in the following year.

Anti-Freezing Preparations Production in Republic of Korea

In value terms, anti-freezing preparations production contracted to $X in 2021 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +80.3% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 29% against the previous year. Anti-freezing preparations production peaked at $X in 2020, and then declined in the following year.

Anti-Freezing Preparations Exports

Exports from Republic of Korea

After four years of decline, overseas shipments of anti-freezing preparations and prepared de-icing fluids increased by 51% to X tons in 2021. In general, exports, however, showed a relatively flat trend pattern. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, anti-freezing preparations exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Russia (X tons) and Slovakia (X tons) were the main destinations of anti-freezing preparations exports from South Korea, together comprising 44% of total exports. These countries were followed by China, India, the Philippines, Vietnam, Mongolia, Mexico, Brazil, Turkey, Pakistan and Taiwan (Chinese), which together accounted for a further 50%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +123.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Slovakia ($X) and Russia ($X) appeared to be the largest markets for anti-freezing preparations exported from South Korea worldwide, together comprising 50% of total exports.

The United States, with a CAGR of +103.4%, recorded the highest growth rate of the value of exports, among the main countries of destination 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 anti-freezing preparations export price amounted to $X per ton, dropping by -5.9% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 15%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably country of destination: the country with the highest price was Turkey ($X per ton), while the average price for exports to Brazil ($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 Turkey (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Anti-Freezing Preparations Imports

Imports into Republic of Korea

In 2021, purchases abroad of anti-freezing preparations and prepared de-icing fluids increased by 154% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, anti-freezing preparations imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Indonesia (X tons) and the United States (X tons) were the main suppliers of anti-freezing preparations imports to South Korea, together comprising 81% of total imports. These countries were followed by Belgium, Lithuania, China, the Netherlands, Japan and the UK, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +140.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest anti-freezing preparations suppliers to South Korea were Germany ($X), Indonesia ($X) and the United States ($X), together accounting for 76% of total imports. These countries were followed by China, Belgium, Japan, Lithuania, the Netherlands and the UK, which together accounted for a further 20%.

In terms of the main suppliers, China, with a CAGR of +176.3%, 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 2021, the average anti-freezing preparations import price amounted to $X per ton, shrinking by -3.7% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, anti-freezing preparations import price decreased by -26.1% against 2018 indices. The pace of growth appeared the most rapid in 2015 an increase of 59% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for the Netherlands ($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 (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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