Republic of Korea: Market for Chlorides And Chloride Oxides Of Phosphorus And Halides And Halide-Oxides Of Non-Metals 2024

Market Size for Chlorides And Chloride Oxides Of Phosphorus And Halides And Halide-Oxides Of Non-Metals in Republic of Korea

After seven years of growth, the South Korean market for chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals decreased by -4.3% to $X in 2021. Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +62.4% against 2013 indices. Over the period under review, the market attained the peak level at $X in 2020, and then shrank in the following year.

Production of Chlorides And Chloride Oxides Of Phosphorus And Halides And Halide-Oxides Of Non-Metals in Republic of Korea

In value terms, production of chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals dropped slightly to $X in 2021 estimated in export price. In general, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +88.4% against 2013 indices. The most prominent rate of growth was recorded in 2014 with an increase of 31%. Over the period under review, production of hit record highs at $X in 2020, and then declined modestly in the following year.

Exports of Chlorides And Chloride Oxides Of Phosphorus And Halides And Halide-Oxides Of Non-Metals

Exports from Republic of Korea

In 2021, approx. X tons of chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals were exported from South Korea; increasing by 34% against the year before. Overall, exports continue to indicate a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals skyrocketed to $X in 2021. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 33% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for exports of chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals from South Korea, accounting for a 47% share of total exports. Moreover, exports of chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals to Taiwan (Chinese) exceeded the volume sent to the second major destination, Japan (X tons), threefold. China (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Taiwan (Chinese) stood at +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+10.2% per year) and China (+6.3% per year).

In value terms, Taiwan (Chinese) ($X), China ($X) and Japan ($X) appeared to be the largest markets for chlorides and phosphorus oxychloride and halides exported from South Korea worldwide, with a combined 75% share of total exports. These countries were followed by Singapore and the United States, which together accounted for a further 21%.

In terms of the main countries of destination, the United States, with a CAGR of +21.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals amounted to $X per ton, declining by -10.6% against the previous year. Over the period under review, the export price continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2015 when the average export price increased by 30%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 China (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Chlorides And Chloride Oxides Of Phosphorus And Halides And Halide-Oxides Of Non-Metals

Imports into Republic of Korea

In 2021, overseas purchases of chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals increased by 16% to X tons, rising for the fifth year in a row after four years of decline. Overall, imports, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 23% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals expanded rapidly to $X in 2021. Over the period under review, imports, however, saw a pronounced slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest chlorides and phosphorus oxychloride and halides supplier to South Korea, with a 72% share of total imports. Moreover, imports of chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.1% per year) and Germany (-0.7% per year).

In value terms, the largest chlorides and phosphorus oxychloride and halides suppliers to South Korea were China ($X), Japan ($X) and Germany ($X), with a combined 80% share of total imports. India lagged somewhat behind, accounting for a further 4.9%.

India, with a CAGR of +12.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals amounted to $X per ton, dropping by -5.1% against the previous year. In general, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for chlorides and chloride oxides of phosphorus and halides and halide-oxides of non-metals decreased by -27.1% against 2016 indices. The growth pace was the most rapid in 2015 an increase of 32% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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