Republic of Korea: Prepared Rubber Accelerators Market 2024

Prepared Rubber Accelerators Market Size in Republic of Korea

The South Korean prepared rubber accelerators market fell rapidly to $X in 2021, declining by -19.1% against the previous year. In general, consumption, however, recorded a notable expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Prepared Rubber Accelerators Production in Republic of Korea

In value terms, prepared rubber accelerators production fell slightly to $X in 2021 estimated in export price. In general, production, however, posted perceptible growth. The growth pace was the most rapid in 2016 when the production volume increased by 1,338% against the previous year. Prepared rubber accelerators production peaked at $X in 2020, and then dropped modestly in the following year.

Prepared Rubber Accelerators Exports

Exports from Republic of Korea

In 2021, overseas shipments of prepared rubber accelerators increased by 54% to X tons, rising for the second consecutive year after three years of decline. Overall, total exports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.7% 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 +57.6% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared rubber accelerators exports soared to $X in 2021. In general, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +60.9% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Indonesia (X tons) and Vietnam (X tons) were the main destinations of prepared rubber accelerators exports from South Korea, together accounting for 53% of total exports. These countries were followed by Egypt and Saudi Arabia, which together accounted for a further 2.4%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Egypt (with a CAGR of +8.1%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and Vietnam ($X) appeared to be the largest markets for prepared rubber accelerators exported from South Korea worldwide, with a combined 63% share of total exports. Saudi Arabia and Egypt lagged somewhat behind, together comprising a further 1.2%.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +7.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average prepared rubber accelerators export price amounted to $X per ton, which is down by -8.7% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Egypt ($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 Saudi Arabia (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Rubber Accelerators Imports

Imports into Republic of Korea

After three years of decline, purchases abroad of prepared rubber accelerators increased by 12% to X tons in 2021. Over the period under review, imports showed a temperate increase. The most prominent rate of growth was recorded in 2014 with an increase of 107%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, prepared rubber accelerators imports skyrocketed to $X in 2021. Overall, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 87% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest prepared rubber accelerators supplier to South Korea, with a 84% share of total imports. Moreover, prepared rubber accelerators imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The Czech Republic (X tons) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.6% per year) and the Czech Republic (+44.0% per year).

In value terms, China ($X) constituted the largest supplier of prepared rubber accelerators to South Korea, comprising 72% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports. It was followed by Japan, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+17.4% per year) and Japan (-9.5% per year).

Import Prices by Country

In 2021, the average prepared rubber accelerators import price amounted to $X per ton, picking up by 32% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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