Republic of Korea: Fungicide And Bactericide Market 2025

Fungicide And Bactericide Market Size in Republic of Korea

The South Korean fungicide and bactericide market shrank to $X in 2021, stabilizing at the previous year. In general, consumption continues to indicate buoyant growth. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank in the following year.

Fungicide And Bactericide Production in Republic of Korea

In value terms, fungicide and bactericide production contracted modestly to $X in 2021 estimated in export price. Overall, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 36% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then shrank modestly in the following year.

Fungicide And Bactericide Exports

Exports from Republic of Korea

In 2021, the amount of fungicides, bactericides and seed treatments exported from South Korea dropped modestly to X tons, reducing by -2.5% against 2020. Over the period under review, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2014 when exports increased by 114% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, fungicide and bactericide exports shrank rapidly to $X in 2021. In general, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 119% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Bangladesh (X tons) and Japan (X tons) were the main destinations of fungicide and bactericide exports from South Korea, together accounting for 25% of total exports. Indonesia, Vietnam, the Philippines, Thailand, the United Arab Emirates, Belgium, Pakistan and Taiwan (Chinese) lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +87.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fungicide and bactericide exported from South Korea were Bangladesh ($X), China ($X) and Vietnam ($X), with a combined 50% share of total exports. These countries were followed by Indonesia, Japan, Thailand, the Philippines, the United Arab Emirates, Taiwan (Chinese), Pakistan and Belgium, which together accounted for a further 29%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +89.7%, recorded the highest growth rate of 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

The average fungicide and bactericide export price stood at $X per ton in 2021, declining by -18% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 26%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then declined notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Belgium ($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 Pakistan (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.

Fungicide And Bactericide Imports

Imports into Republic of Korea

Fungicide and bactericide imports into South Korea rose sharply to X tons in 2021, picking up by 12% on 2020 figures. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 13% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, fungicide and bactericide imports fell to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 12% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Colombia (X tons), China (X tons) and Japan (X tons) were the main suppliers of fungicide and bactericide imports to South Korea, together comprising 57% of total imports. These countries were followed by Malaysia, the Netherlands, the United States, India, Israel, Belgium, Germany and the UK, which together accounted for a further 27%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +30.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fungicide and bactericide suppliers to South Korea were Japan ($X), the United States ($X) and Colombia ($X), with a combined 45% share of total imports. The UK, China, Germany, Israel, India, Malaysia, the Netherlands and Belgium lagged somewhat behind, together comprising a further 32%.

Among the main suppliers, Belgium, with a CAGR of +28.9%, recorded the highest rates of growth with regard to the value of imports, 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 fungicide and bactericide import price amounted to $X per ton, shrinking by -12.4% against the previous year. In general, the import price continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 14% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :