Republic of Korea: Market for Cyclanic, Cyclenic Or Cycloterpenic Mono- Or Polyamines, And Their Derivatives And Salts Thereof 2024

Market Size for Cyclanic, Cyclenic Or Cycloterpenic Mono- Or Polyamines, And Their Derivatives And Salts Thereof in Republic of Korea

In 2022, the South Korean market for cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof decreased by -10.5% to $X for the first time since 2013, thus ending a eight-year rising trend. Overall, consumption, however, recorded a buoyant increase. Consumption of peaked at $X in 2021, and then contracted in the following year.

Production of Cyclanic, Cyclenic Or Cycloterpenic Mono- Or Polyamines, And Their Derivatives And Salts Thereof in Republic of Korea

In value terms, production of cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by 25%. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Cyclanic, Cyclenic Or Cycloterpenic Mono- Or Polyamines, And Their Derivatives And Salts Thereof

Exports from Republic of Korea

In 2022, approx. X tons of cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof were exported from South Korea; waning by -39.5% compared with the previous year. In general, exports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2015 with an increase of 95% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof fell to $X in 2022. Overall, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 106% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

China (X tons) was the main destination for exports of cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof from South Korea, with a 75% share of total exports. Moreover, exports of cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof to China exceeded the volume sent to the second major destination, Vietnam (X tons), eightfold. India (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-6.7% per year) and India (+2.2% per year).

In value terms, China ($X) remains the key foreign market for cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof exports from South Korea, comprising 97% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 1.2% share of total exports. It was followed by India, with a 0.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+2.1% per year) and India (+20.9% per year).

Export Prices by Country

The average export price for cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof stood at $X per ton in 2022, with an increase of 50% against the previous year. Overall, the export price posted a strong increase. 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 external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan ($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 India (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cyclanic, Cyclenic Or Cycloterpenic Mono- Or Polyamines, And Their Derivatives And Salts Thereof

Imports into Republic of Korea

In 2022, supplies from abroad of cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof decreased by -16.7% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by 45%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 40% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest cyclanic, cyclenic or cycloterpenic mono- or polyamines supplier to South Korea, with a 68% share of total imports. Moreover, imports of cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sevenfold. Germany (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-0.0% per year) and Germany (-11.6% per year).

In value terms, China ($X) constituted the largest supplier of cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof to South Korea, comprising 61% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Germany, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+51.8% per year) and Germany (-8.7% per year).

Import Prices by Country

The average import price for cyclanic, cyclenic or cycloterpenic mono- or polyamines, and their derivatives and salts thereof stood at $X per ton in 2022, with an increase of 7.5% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2016 an increase of 28% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+42.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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