Republic of Korea: Sulphonamides Market 2025

Sulphonamides Market Size in Republic of Korea

After three years of growth, the South Korean sulphonamides market decreased by -13.1% to $X in 2021. In general, consumption, however, saw a resilient increase. Sulphonamides consumption peaked at $X in 2020, and then reduced in the following year.

Sulphonamides Production in Republic of Korea

In value terms, sulphonamides production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a pronounced increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 337% against the previous year. Sulphonamides production peaked at $X in 2020, and then reduced modestly in the following year.

Sulphonamides Exports

Exports from Republic of Korea

In 2021, approx. X tons of sulphonamides were exported from South Korea; picking up by 14% against 2020. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 58%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, sulphonamides exports surged to $X in 2021. In general, exports saw a strong increase. The growth pace was the most rapid in 2016 with an increase of 120% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Italy (X tons) and China (X tons) were the main destinations of sulphonamides exports from South Korea, together accounting for 56% of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +50.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sulphonamides exported from South Korea were China ($X), the United States ($X) and Italy ($X), with a combined 64% share of total exports.

Among the main countries of destination, Italy, with a CAGR of +52.6%, 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 sulphonamides export price amounted to $X per ton, increasing by 15% against the previous year. Overall, the export price continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 an increase of 161% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to the UK ($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 Netherlands (+30.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphonamides Imports

Imports into Republic of Korea

In 2021, the amount of sulphonamides imported into South Korea expanded significantly to X tons, increasing by 13% against 2020 figures. In general, total imports indicated buoyant growth from 2012 to 2021: its volume 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, imports increased by +24.6% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 68% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, sulphonamides imports stood at $X in 2021. The total import value increased at an average annual rate of +6.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 39% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of sulphonamides to South Korea, with a 79% share of total imports. Moreover, sulphonamides imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), more than tenfold. The third position in this ranking was held by India (X tons), with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+20.5% per year) and India (+3.0% per year).

In value terms, the largest sulphonamides suppliers to South Korea were China ($X), Japan ($X) and India ($X), together accounting for 67% of total imports. These countries were followed by the United States and Indonesia, which together accounted for a further 13%.

Among the main suppliers, Indonesia, with a CAGR of +21.2%, 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

In 2021, the average sulphonamides import price amounted to $X per ton, with a decrease of -10.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then declined in the following year.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Indonesia ($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 (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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