Republic of Korea: Market for Liquid Or Compressed Air And Distilled Or Conductivity Water 2024

Market Size for Liquid Or Compressed Air And Distilled Or Conductivity Water in Republic of Korea

In 2021, the South Korean market for liquid or compressed air and distilled or conductivity water increased by 51% to $X for the first time since 2018, thus ending a two-year declining trend. 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. Liquid air and distilled water consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Liquid Or Compressed Air And Distilled Or Conductivity Water in Republic of Korea

In value terms, liquid air and distilled water production skyrocketed to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt decrease. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Liquid Or Compressed Air And Distilled Or Conductivity Water

Exports from Republic of Korea

In 2021, overseas shipments of liquid or compressed air and distilled or conductivity water decreased by -22.1% to X tons, falling for the second year in a row after eight years of growth. In general, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2016 with an increase of 223% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, liquid air and distilled water exports declined remarkably to $X in 2021. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 269%. Over the period under review, the exports attained the maximum at $X in 2020, and then fell dramatically in the following year.

Exports by Country

China (X tons) was the main destination for liquid air and distilled water exports from South Korea, with a 48% share of total exports. Moreover, liquid air and distilled water exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold. Japan (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +117.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+120.2% per year) and Japan (+88.9% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and Japan ($X) were the largest markets for liquid air and distilled water exported from South Korea worldwide, together accounting for 89% of total exports. These countries were followed by the United States, Vietnam, Singapore and Malaysia, which together accounted for a further 8.4%.

In terms of the main countries of destination, Singapore, with a CAGR of +151.6%, 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

In 2021, the average export price for liquid or compressed air and distilled or conductivity water amounted to $X per ton, declining by -34.3% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 32% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then shrank significantly 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 Taiwan (Chinese) ($X per ton), while the average price for exports to Vietnam ($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 Malaysia (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Liquid Or Compressed Air And Distilled Or Conductivity Water

Imports into Republic of Korea

In 2021, approx. X tons of liquid or compressed air and distilled or conductivity water were imported into South Korea; surging by 2.2% against the previous year. In general, imports showed a significant increase. The growth pace was the most rapid in 2016 with an increase of 625% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, liquid air and distilled water imports rose significantly to $X in 2021. Overall, imports saw a significant increase. The growth pace was the most rapid in 2020 when imports increased by 502% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of liquid air and distilled water to South Korea, with a 71% share of total imports. Moreover, liquid air and distilled water imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+72.8% per year) and the United States (+31.7% per year).

In value terms, the largest liquid air and distilled water suppliers to South Korea were Japan ($X), China ($X) and the United States ($X), together comprising 89% of total imports.

In terms of the main suppliers, Japan, with a CAGR of +77.3%, saw 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

The average import price for liquid or compressed air and distilled or conductivity water stood at $X per ton in 2021, picking up by 10% against the previous year. In general, the import price recorded prominent growth. The pace of growth appeared the most rapid in 2015 an increase of 70% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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