Republic of Korea: Heterocyclic Compound Market 2024

Heterocyclic Compound Market Size in Republic of Korea

The South Korean heterocyclic compound market contracted slightly to $X in 2022, flattening at the previous year. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Heterocyclic Compound Production in Republic of Korea

In value terms, heterocyclic compound production shrank slightly to $X in 2022 estimated in export price. In general, production, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Heterocyclic compound production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Heterocyclic Compound Exports

Exports from Republic of Korea

Heterocyclic compound exports from South Korea soared to X tons in 2022, jumping by X% on 2021 figures. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, heterocyclic compound exports soared to $X in 2022. Overall, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons), China (X tons) and Belgium (X tons) were the main destinations of heterocyclic compound exports from South Korea, together accounting for X% of total exports. Japan, Indonesia, the United States, India and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Japan ($X) and China ($X) constituted the largest markets for heterocyclic compound exported from South Korea worldwide, together accounting for X% of total exports.

Brazil, with a CAGR of X%, saw the highest rates of growth with regard to 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 heterocyclic compound export price amounted to $X per ton, picking up by X% against the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, heterocyclic compound export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Germany ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Heterocyclic Compound Imports

Imports into Republic of Korea

For the fourth consecutive year, South Korea recorded growth in overseas purchases of heterocyclic compounds, which increased by X% to X tons in 2022. Over the period under review, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, heterocyclic compound imports soared to $X in 2022. In general, imports recorded strong growth. The growth pace was the most rapid in 2018 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

China (X tons), India (X tons) and Japan (X tons) were the main suppliers of heterocyclic compound imports to South Korea, together comprising X% of total imports. Germany, the United States and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average heterocyclic compound import price amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, recorded a mild shrinkage. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. The import price peaked 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 the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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