Republic of Korea: Market for Non-Soap Surface-Active Washing and Cleaning Preparations 2024

Market Size for Non-Soap Surface-Active Washing and Cleaning Preparations in Republic of Korea

The South Korean market for non-soap surface-active washing and cleaning preparations stood at $X in 2021, with an increase of 4.8% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Non-Soap Surface-Active Washing and Cleaning Preparations in Republic of Korea

In value terms, production of non-soap surface-active washing and cleaning preparations shrank to $X in 2021 estimated in export price. In general, production showed a mild downturn. The growth pace was the most rapid in 2018 when the production volume increased by 23%. Production of peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Non-Soap Surface-Active Washing and Cleaning Preparations

Exports from Republic of Korea

In 2021, exports of non-soap surface-active washing and cleaning preparations from South Korea declined to X tons, which is down by -5.5% against the previous year's figure. The total export volume increased at an average annual rate of +3.4% 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 with an increase of 15%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, exports of non-soap surface-active washing and cleaning preparations expanded notably to $X in 2021. The total export value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 18% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main destinations of exports of non-soap surface-active washing and cleaning preparations from South Korea, together comprising 38% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +31.8%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for non-soap surface-active washing and cleaning preparations exports from South Korea, comprising 23% of total exports. The second position in the ranking was held by Japan ($X), with a 10% share of total exports. It was followed by Taiwan (Chinese), with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-3.8% per year) and Taiwan (Chinese) (+27.4% per year).

Export Prices by Country

In 2021, the average export price for non-soap surface-active washing and cleaning preparations amounted to $X per ton, growing by 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Chile ($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 Australia (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Soap Surface-Active Washing and Cleaning Preparations

Imports into Republic of Korea

In 2021, the amount of non-soap surface-active washing and cleaning preparations imported into South Korea skyrocketed to X tons, increasing by 37% on the year before. In general, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of non-soap surface-active washing and cleaning preparations surged to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% 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 +101.3% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of imports of non-soap surface-active washing and cleaning preparations to South Korea, together comprising 61% of total imports. These countries were followed by Germany, Thailand, Mexico, Italy, Malaysia, Indonesia and Singapore, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +63.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Japan ($X) appeared to be the largest non-soap surface-active washing and cleaning preparations suppliers to South Korea, together comprising 62% of total imports. These countries were followed by Germany, Italy, Thailand, Mexico, Singapore, Indonesia and Malaysia, which together accounted for a further 19%.

Mexico, with a CAGR of +62.5%, 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

In 2021, the average import price for non-soap surface-active washing and cleaning preparations amounted to $X per ton, waning by -2.1% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 12%. Over the period under review, average import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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