Republic of Korea: Market for Dibutyl And Dioctyl Orthophthalates Other Esters Of Orthophthalic Acid 2024

Market Size for Dibutyl And Dioctyl Orthophthalates Other Esters Of Orthophthalic Acid in Republic of Korea

In 2022, the South Korean market for dibutyl and dioctyl orthophthalates other esters of orthophthalic acid increased by 4.7% to $X, rising for the fourth consecutive year after four years of decline. In general, consumption posted resilient growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in years to come.

Production of Dibutyl And Dioctyl Orthophthalates Other Esters Of Orthophthalic Acid in Republic of Korea

In value terms, production of dibutyl and dioctyl orthophthalates other esters of orthophthalic acid fell to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible setback. The pace of growth appeared the most rapid in 2017 with an increase of 11%. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Dibutyl And Dioctyl Orthophthalates Other Esters Of Orthophthalic Acid

Exports from Republic of Korea

In 2022, overseas shipments of dibutyl and dioctyl orthophthalates other esters of orthophthalic acid decreased by -17.1% to X tons, falling for the fourth consecutive year after seven years of growth. In general, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 11%. Over the period under review, the exports of hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, exports of dibutyl and dioctyl orthophthalates other esters of orthophthalic acid fell sharply to $X in 2022. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 41% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Russia (X tons) and Japan (X tons) were the main destinations of exports of dibutyl and dioctyl orthophthalates other esters of orthophthalic acid from South Korea, together accounting for 26% of total exports. Nigeria, Peru, Ethiopia, Cote d'Ivoire, Egypt, India, Kenya, Jordan, the Philippines and Mexico lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +41.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Russia ($X) and Japan ($X) were the largest markets for dibutyl and dioctyl orthophthalates other esters of orthophthalic acid exported from South Korea worldwide, with a combined 27% share of total exports. Nigeria, Peru, Ethiopia, Egypt, Kenya, Cote d'Ivoire, India, Jordan, the Philippines and Mexico lagged somewhat behind, together accounting for a further 40%.

Cote d'Ivoire, with a CAGR of +37.8%, saw the highest rates of growth with regard to 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 export price for dibutyl and dioctyl orthophthalates other esters of orthophthalic acid stood at $X per ton in 2022, waning by -6.5% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 71% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Nigeria ($X per ton) and Peru ($X per ton), while the average price for exports to Ethiopia ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (-0.1%), while the prices for the other major destinations experienced a decline.

Imports of Dibutyl And Dioctyl Orthophthalates Other Esters Of Orthophthalic Acid

Imports into Republic of Korea

In 2022, after two years of growth, there was significant decline in purchases abroad of dibutyl and dioctyl orthophthalates other esters of orthophthalic acid, when their volume decreased by -21.1% to X tons. Overall, imports showed a noticeable downturn. The growth pace was the most rapid in 2021 when imports increased by 33% against the previous year. Over the period under review, imports of hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of dibutyl and dioctyl orthophthalates other esters of orthophthalic acid contracted significantly to $X in 2022. Over the period under review, imports saw a pronounced reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 89%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), Vietnam (X tons) and China (X tons) were the main suppliers of imports of dibutyl and dioctyl orthophthalates other esters of orthophthalic acid to South Korea, together comprising 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +144.0%), while imports for the other leaders experienced a decline.

In value terms, the Netherlands ($X), Vietnam ($X) and China ($X) constituted the largest dibutyl and dioctyl orthophthalates other esters of orthophthalic acid suppliers to South Korea, with a combined 94% share of total imports.

Vietnam, with a CAGR of +141.9%, 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 import price for dibutyl and dioctyl orthophthalates other esters of orthophthalic acid stood at $X per ton in 2022, declining by -5.2% against the previous year. Overall, the import price continues to indicate a slight downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 42%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Vietnam ($X per ton), while the price for the Netherlands ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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