Republic of Korea: Polyvinyl Chloride Market 2024

Polyvinyl Chloride Market Size in Republic of Korea

The South Korean polyvinyl chloride market reduced to $X in 2022, shrinking by -5.4% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Polyvinyl Chloride Production in Republic of Korea

In value terms, polyvinyl chloride production declined significantly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 76% against the previous year. As a result, production attained the peak level of $X, and then shrank markedly in the following year.

Polyvinyl Chloride Exports

Exports from Republic of Korea

In 2022, exports of polyvinyl chloride from South Korea was estimated at X tons, therefore, remained relatively stable against the previous year's figure. Overall, exports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 14%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, polyvinyl chloride exports fell notably to $X in 2022. In general, exports, however, showed a slight decrease. The pace of growth was the most pronounced in 2021 with an increase of 61% against the previous year. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

India (X tons) was the main destination for polyvinyl chloride exports from South Korea, with a 33% share of total exports. Moreover, polyvinyl chloride exports to India exceeded the volume sent to the second major destination, Turkey (X tons), threefold. The third position in this ranking was taken by Nigeria (X tons), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+15.6% per year) and Nigeria (+10.9% per year).

In value terms, India ($X) remains the key foreign market for polyvinyl chloride exports from South Korea, comprising 31% of total exports. The second position in the ranking was held by Turkey ($X), with a 15% share of total exports. It was followed by Nigeria, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+19.9% per year) and Nigeria (+12.9% per year).

Export Prices by Country

The average polyvinyl chloride export price stood at $X per ton in 2022, dropping by -19.8% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 65% against the previous year. As a result, the export price reached the peak level of $X per ton, and then plummeted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Malaysia ($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 Poland (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Polyvinyl Chloride Imports

Imports into Republic of Korea

After four years of decline, purchases abroad of polyvinyl chloride increased by 53% to X tons in 2022. Over the period under review, imports, however, continue to indicate a perceptible reduction. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, polyvinyl chloride imports expanded markedly to $X in 2022. Overall, imports, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2014 with an increase of 34%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of polyvinyl chloride imports to South Korea, with a combined 65% share of total imports. Thailand, Germany, Malaysia, Vietnam, Colombia and Belgium lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +86.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyvinyl chloride suppliers to South Korea were China ($X), the United States ($X) and Thailand ($X), with a combined 57% share of total imports. Japan, Germany, Malaysia, Vietnam, Colombia and Belgium lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Colombia, with a CAGR of +75.9%, saw 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 polyvinyl chloride import price stood at $X per ton in 2022, with a decrease of -26% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 63% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted significantly in the following year.

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 Germany ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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