Republic of Korea: Market for Organic Surface Active Agents 2024

Market Size for Organic Surface Active Agents in Republic of Korea

In 2021, the South Korean organic surface active agent market increased by 1.7% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Organic surface active agent consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Production of Organic Surface Active Agents in Republic of Korea

In value terms, organic surface active agent production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 16% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Organic Surface Active Agents

Exports from Republic of Korea

After five years of growth, shipments abroad of organic surface active agents decreased by -1.4% to X tons in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +89.4% against 2015 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 50%. The exports peaked at X tons in 2020, and then shrank in the following year.

In value terms, organic surface active agent exports soared to $X in 2021. Overall, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +95.3% against 2015 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 27% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main destinations of organic surface active agent exports from South Korea, together comprising 28% of total exports. Vietnam, Malaysia, the Philippines, Mozambique, Australia, Indonesia, Chile, Bangladesh, Thailand and Turkey lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +21.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Japan ($X) appeared to be the largest markets for organic surface active agent exported from South Korea worldwide, together accounting for 34% of total exports. These countries were followed by Vietnam, Malaysia, the Philippines, Indonesia, Australia, Mozambique, Chile, Thailand, Bangladesh and Turkey, which together accounted for a further 34%.

Among the main countries of destination, Vietnam, with a CAGR of +18.1%, recorded 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 organic surface active agent export price amounted to $X per ton, increasing by 22% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Chile ($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 the United States (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Organic Surface Active Agents

Imports into Republic of Korea

For the fourth consecutive year, South Korea recorded growth in purchases abroad of organic surface active agents, which increased by 14% to X tons in 2021. Overall, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.6% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 16%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, organic surface active agent imports soared to $X in 2021. The total import value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of organic surface active agent imports to South Korea, together comprising 67% of total imports. These countries were followed by Thailand, Germany, Malaysia and Indonesia, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +17.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and the United States ($X) constituted the largest organic surface active agent suppliers to South Korea, together accounting for 72% of total imports.

In terms of the main suppliers, China, with a CAGR of +14.8%, recorded the highest growth rate of 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 organic surface active agent import price stood at $X per ton in 2021, increasing by 12% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Germany ($X per ton), while the price for Thailand ($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 (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform