Republic of Korea: Compound Plasticisers Market 2024

Compound Plasticisers Market Size in Republic of Korea

The South Korean compound plasticisers market surged to $X in 2022, rising by X% against the previous year. Over the period under review, consumption, however, saw a deep downturn. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Compound Plasticisers Production in Republic of Korea

In value terms, compound plasticisers production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a deep contraction. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Compound plasticisers production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Compound Plasticisers Exports

Exports from Republic of Korea

After six years of growth, overseas shipments of compound plasticisers for rubber or plastics decreased by X% to X tons in 2022. In general, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, compound plasticisers exports declined notably to $X in 2022. Overall, exports, however, showed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then shrank rapidly in the following year.

Exports by Country

Vietnam (X tons) was the main destination for compound plasticisers exports from South Korea, with a X% share of total exports. Moreover, compound plasticisers exports to Vietnam exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. China (X tons) ranked third in terms of total exports with an X% share.

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

In value terms, the largest markets for compound plasticisers exported from South Korea were Vietnam ($X), the United Arab Emirates ($X) and China ($X), together accounting for X% of total exports. Egypt, Mexico, India, Algeria, Uzbekistan, Chile, El Salvador, Saudi Arabia, Taiwan (Chinese) and Turkey lagged somewhat behind, together comprising a further X%.

Saudi Arabia, with a CAGR of X%, 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

The average compound plasticisers export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 El Salvador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Compound Plasticisers Imports

Imports into Republic of Korea

In 2022, overseas purchases of compound plasticisers for rubber or plastics decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, compound plasticisers imports shrank to $X in 2022. In general, total imports indicated a modest 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, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of compound plasticisers imports to South Korea, together accounting for X% of total imports. Poland, Estonia and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Japan ($X) appeared to be the largest compound plasticisers suppliers to South Korea, together accounting for X% of total imports. Poland, Estonia and the United States lagged somewhat behind, together comprising a further X%.

Poland, 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 mixed trend patterns.

Import Prices by Country

The average compound plasticisers import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, saw a perceptible slump. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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