Republic of Korea: Oxygen-Function Amino-Compound Market 2024

Oxygen-Function Amino-Compound Market Size in Republic of Korea

In 2021, the South Korean oxygen-function amino-compound market increased by 23% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Oxygen-Function Amino-Compound Exports

Exports from Republic of Korea

In 2021, exports of oxygen-function amino-compounds from South Korea totaled X tons, surging by 2.3% against the previous year's figure. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 37% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, oxygen-function amino-compound exports expanded remarkably to $X in 2021. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 35%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons) was the main destination for oxygen-function amino-compound exports from South Korea, with a 29% share of total exports. Moreover, oxygen-function amino-compound exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. The third position in this ranking was taken by India (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+19.3% per year) and India (+37.6% per year).

In value terms, the largest markets for oxygen-function amino-compound exported from South Korea were Germany ($X), China ($X) and the Netherlands ($X), with a combined 49% share of total exports. Japan, the United States, India, Indonesia, Norway, Peru, Vietnam, Thailand and Colombia lagged somewhat behind, together accounting for a further 31%.

Norway, with a CAGR of +122.3%, 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 2021, the average oxygen-function amino-compound export price amounted to $X per ton, picking up by 3.6% against the previous year. Over the period under review, the export price, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2017 an increase of 30%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Germany ($X per ton), while the average price for exports to Colombia ($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 Germany (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Oxygen-Function Amino-Compound Imports

Imports into Republic of Korea

In 2021, imports of oxygen-function amino-compounds into South Korea was estimated at X tons, surging by 11% against 2020 figures. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.3% against 2015 indices. The growth pace was the most rapid in 2018 with an increase of 27%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, oxygen-function amino-compound imports soared to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.6% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 23% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of oxygen-function amino-compound to South Korea, accounting for a 39% share of total imports. Moreover, oxygen-function amino-compound imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.3% per year) and Germany (+9.8% per year).

In value terms, China ($X) constituted the largest supplier of oxygen-function amino-compounds to South Korea, comprising 53% of total imports. The second position in the ranking was taken by the United States ($X), with an 11% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.2% per year) and Japan (-0.7% per year).

Import Prices by Country

The average oxygen-function amino-compound import price stood at $X per ton in 2021, surging by 9% against the previous year. In general, the import price showed a relatively flat trend pattern. The import price peaked at $X per ton in 2015; however, from 2016 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 India ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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