Republic of Korea: Market for Soap And Organic Surface-Active Products In Bars Other Than For Toilet Use 2024

Market Size for Soap And Organic Surface-Active Products In Bars Other Than For Toilet Use in Republic of Korea

The South Korean market for soap and organic surface-active products in bars other than for toilet use was estimated at $X in 2022, growing by 8.3% against the previous year. Over the period under review, consumption continues to indicate strong growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Soap And Organic Surface-Active Products In Bars Other Than For Toilet Use in Republic of Korea

In value terms, production of soap and organic surface-active products in bars other than for toilet use rose significantly to $X in 2022 estimated in export price. In general, production recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 75% against the previous year. Production of peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Soap And Organic Surface-Active Products In Bars Other Than For Toilet Use

Exports from Republic of Korea

In 2022, approx. X tons of soap and organic surface-active products in bars other than for toilet use were exported from South Korea; surging by 4.1% compared with 2021. Over the period under review, exports showed tangible growth. The pace of growth was the most pronounced in 2015 when exports increased by 58%. Over the period under review, the exports of reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of soap and organic surface-active products in bars other than for toilet use amounted to $X in 2022. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 46% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons), Taiwan (Chinese) (X tons) and the United States (X tons) were the main destinations of exports of soap and organic surface-active products in bars other than for toilet use from South Korea, with a combined 82% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +23.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for soap and organic surface-active products in bars other than for toilet use exports from South Korea, comprising 47% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 22% share of total exports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+22.7% per year) and the United States (+26.4% per year).

Export Prices by Country

The average export price for soap and organic surface-active products in bars other than for toilet use stood at $X per ton in 2022, falling by -3.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2021 when the average export price increased by 21%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Malaysia ($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 Djibouti (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Soap And Organic Surface-Active Products In Bars Other Than For Toilet Use

Imports into Republic of Korea

In 2022, approx. X tons of soap and organic surface-active products in bars other than for toilet use were imported into South Korea; shrinking by -35.2% against the previous year's figure. Over the period under review, imports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2017 when imports increased by 19%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of soap and organic surface-active products in bars other than for toilet use dropped notably to $X in 2022. In general, imports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 19%. Over the period under review, imports of reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and the United States (X tons) were the main suppliers of imports of soap and organic surface-active products in bars other than for toilet use to South Korea, together accounting for 80% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +72.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soap in bars other than for toilet use suppliers to South Korea were Thailand ($X), China ($X) and the United States ($X), with a combined 79% share of total imports.

Thailand, with a CAGR of +76.1%, recorded the highest growth rate of the value of imports, among the main suppliers 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 soap and organic surface-active products in bars other than for toilet use stood at $X per ton in 2022, growing by 22% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. As a result, import price attained 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 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Indonesia ($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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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