Republic of Korea: Hydrogen Peroxide Market 2024

Hydrogen Peroxide Market Size in Republic of Korea

In 2022, the South Korean hydrogen peroxide market decreased by -9.8% to $X, falling for the second consecutive year after three years of growth. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.4% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Hydrogen Peroxide Production in Republic of Korea

In value terms, hydrogen peroxide production expanded modestly to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.0% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 28% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Hydrogen Peroxide Exports

Exports from Republic of Korea

In 2022, exports of hydrogen peroxide from South Korea soared to X tons, with an increase of 18% against 2021 figures. In general, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.7% 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 +57.1% against 2015 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 34% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, hydrogen peroxide exports soared to $X in 2022. Over the period under review, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 28% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for hydrogen peroxide exports from South Korea, accounting for a 29% share of total exports. Moreover, hydrogen peroxide exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was held by Vietnam (X tons), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) stood at +17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+39.0% per year) and Vietnam (+6.3% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for hydrogen peroxide exports from South Korea, comprising 28% of total exports. The second position in the ranking was taken by Japan ($X), with an 8.4% share of total exports. It was followed by Vietnam, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) amounted to +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+33.1% per year) and Vietnam (+8.3% per year).

Export Prices by Country

In 2022, the average hydrogen peroxide export price amounted to $X per ton, with an increase of 8.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 18% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, 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 China ($X per ton), while the average price for exports to Japan ($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 Ecuador (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Hydrogen Peroxide Imports

Imports into Republic of Korea

In 2022, hydrogen peroxide imports into South Korea contracted remarkably to X tons, which is down by -47.8% compared with the previous year. Overall, imports, however, saw a modest expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 1,179% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, hydrogen peroxide imports contracted significantly to $X in 2022. In general, imports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 233%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Thailand (X tons) and the UK (X tons) were the main suppliers of hydrogen peroxide imports to South Korea, with a combined 92% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +146.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hydrogen peroxide suppliers to South Korea were China ($X), Thailand ($X) and the UK ($X), with a combined 76% share of total imports.

The UK, with a CAGR of +90.8%, saw the highest growth rate of the value of imports, among 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 2022, the average hydrogen peroxide import price amounted to $X per ton, jumping by 19% against the previous year. In general, the import price continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 103%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :