Republic of Korea: Aromatic Polyamines Market 2024

Aromatic Polyamines Market Size in Republic of Korea

In 2021, the South Korean aromatic polyamines market increased by 45% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.6% 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 +91.2% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Aromatic Polyamines Production in Republic of Korea

In value terms, aromatic polyamines production fell dramatically to $X in 2021 estimated in export price. Overall, production saw a drastic downturn. The pace of growth appeared the most rapid in 2016 with an increase of 675%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Aromatic Polyamines Exports

Exports from Republic of Korea

In 2021, overseas shipments of aromatic polyamines and their derivatives, salts thereof were finally on the rise to reach X tons after four years of decline. In general, exports, however, saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 4% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, aromatic polyamines exports skyrocketed to $X in 2021. Overall, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for aromatic polyamines exports from South Korea, accounting for a 27% share of total exports. Moreover, aromatic polyamines exports to the United States exceeded the volume sent to the second major destination, India (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-5.1% per year) and Thailand (-3.1% per year).

In value terms, the United States ($X) remains the key foreign market for aromatic polyamines and their derivatives, salts thereof exports from South Korea, comprising 29% of total exports. The second position in the ranking was taken by India ($X), with a 12% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-0.8% per year) and Japan (-1.7% per year).

Export Prices by Country

In 2021, the average aromatic polyamines export price amounted to $X per ton, jumping by 74% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($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 Germany (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Polyamines Imports

Imports into Republic of Korea

After three years of decline, supplies from abroad of aromatic polyamines and their derivatives, salts thereof increased by 22% to X tons in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 112%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, aromatic polyamines imports surged to $X in 2021. In general, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 87% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest aromatic polyamines supplier to South Korea, accounting for a 83% share of total imports. Moreover, aromatic polyamines imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Japan (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.8% per year) and Japan (+12.7% per year).

In value terms, China ($X) constituted the largest supplier of aromatic polyamines and their derivatives, salts thereof to South Korea, comprising 79% of total imports. The second position in the ranking was taken by India ($X), with an 8% share of total imports. It was followed by Japan, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.5% per year) and Japan (+12.1% per year).

Import Prices by Country

In 2021, the average aromatic polyamines import price amounted to $X per ton, increasing by 9.4% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aromatic polyamines import price increased by +59.5% against 2015 indices. The most prominent rate of growth was recorded in 2018 an increase of 26% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Hungary ($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 (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :