Republic of Korea: Ether Market 2024

Ether Market Size in Republic of Korea

The South Korean ether market dropped notably to $X in 2022, shrinking by -22.1% against the previous year. Over the period under review, consumption showed a deep reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Ether Production in Republic of Korea

In value terms, ether production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible descent. The growth pace was the most rapid in 2019 when the production volume increased by 52% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Ether Exports

Exports from Republic of Korea

In 2022, overseas shipments of ethers increased by 12% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 65%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, ether exports rose to $X in 2022. In general, exports saw a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 129% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

China (X tons), Singapore (X tons) and Malaysia (X tons) were the main destinations of ether exports from South Korea, with a combined 73% share of total exports. India, Japan, the United States, Taiwan (Chinese), Russia and the Netherlands lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +69.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and the United States ($X) were the largest markets for ether exported from South Korea worldwide, together accounting for 61% of total exports. Malaysia, India, Japan, the Netherlands, Taiwan (Chinese) and Russia lagged somewhat behind, together comprising a further 20%.

The Netherlands, with a CAGR of +78.0%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the average ether export price amounted to $X per ton, waning by -8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 39% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Malaysia ($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 the Netherlands (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ether Imports

Imports into Republic of Korea

Ether imports into South Korea dropped markedly to X tons in 2022, falling by -36.4% against the previous year. Overall, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 34%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, ether imports shrank notably to $X in 2022. In general, imports showed a drastic downturn. The pace of growth was the most pronounced in 2015 when imports increased by 16%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Saudi Arabia (X tons) were the main suppliers of ether imports to South Korea, together comprising 70% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +6.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of ethers to South Korea, comprising 44% of total imports. The second position in the ranking was held by the United States ($X), with a 17% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.0% per year) and Japan (-5.0% per year).

Import Prices by Country

The average ether import price stood at $X per ton in 2022, with an increase of 32% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 42%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 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 Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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