Republic of Korea: Cyclohexanone And Methylcyclohexanones Market 2024

Cyclohexanone And Methylcyclohexanones Market Size in Republic of Korea

In 2021, the South Korean cyclohexanone and methylcyclohexanones market increased by 164% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, recorded a abrupt slump. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Cyclohexanone And Methylcyclohexanones Exports

Exports from Republic of Korea

After three years of growth, overseas shipments of cyclohexanone and methylcyclohexanones decreased by -80% to X tons in 2021. In general, exports, however, enjoyed perceptible growth. The pace of growth appeared the most rapid in 2016 when exports increased by 247% against the previous year. The exports peaked at X tons in 2020, and then declined notably in the following year.

In value terms, cyclohexanone and methylcyclohexanones exports declined dramatically to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 214%. Over the period under review, the exports attained the peak figure at $X in 2020, and then reduced remarkably in the following year.

Exports by Country

Indonesia (X tons), Bangladesh (X tons) and Malaysia (X tons) were the main destinations of cyclohexanone and methylcyclohexanones exports from South Korea, together accounting for 60% 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 Malaysia (with a CAGR of +451.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cyclohexanone and methylcyclohexanones exported from South Korea were Indonesia ($X), Bangladesh ($X) and India ($X), together accounting for 59% of total exports. These countries were followed by Malaysia, Nigeria, Vietnam, Singapore and Egypt, which together accounted for a further 29%.

Malaysia, with a CAGR of +311.6%, saw 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 cyclohexanone and methylcyclohexanones export price stood at $X per ton in 2021, picking up by 10% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2013 an increase of 12%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Egypt ($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 Nigeria (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.

Cyclohexanone And Methylcyclohexanones Imports

Imports into Republic of Korea

In 2021, overseas purchases of cyclohexanone and methylcyclohexanones increased by 79% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a pronounced reduction. The growth pace was the most rapid in 2014 with an increase of 230% 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 somewhat lower figure.

In value terms, cyclohexanone and methylcyclohexanones imports surged to $X in 2021. Overall, imports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by 210%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of cyclohexanone and methylcyclohexanones imports to South Korea, together accounting for 100% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +46.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the largest cyclohexanone and methylcyclohexanones suppliers to South Korea, with a combined 100% share of total imports.

Japan, with a CAGR of +39.2%, 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 a decline.

Import Prices by Country

The average cyclohexanone and methylcyclohexanones import price stood at $X per ton in 2021, surging by 31% against the previous year. In general, the import price, however, recorded a perceptible contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by 32% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+19.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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