Report Update Nov 1, 2024

Republic of Korea - Toluene - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Toluene Market 2024

Toluene Market Size in Republic of Korea

After two years of decline, the South Korean toluene market increased by 161% to $X in 2021. In general, consumption saw a buoyant expansion. Toluene consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Toluene Production in Republic of Korea

In value terms, toluene production fell dramatically to $X in 2021 estimated in export price. Overall, production faced a sharp decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by 1,166%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Toluene Exports

Exports from Republic of Korea

In 2021, toluene exports from South Korea fell sharply to X tons, with a decrease of -36.3% against 2020 figures. Overall, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2019 when exports increased by 30% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, toluene exports reduced modestly to $X in 2021. In general, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 14%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

India (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main destinations of toluene exports from South Korea, with a combined 74% share 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 India (with a CAGR of +31.5%), while the other leaders experienced a decline.

In value terms, the largest markets for toluene exported from South Korea were India ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 72% of total exports.

Among the main countries of destination, India, with a CAGR of +28.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average toluene export price amounted to $X per ton, with an increase of 52% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The export price peaked at $X per ton in 2013; however, from 2014 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 Japan ($X per ton), while the average price for exports to the United States ($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 India (-2.6%), while the prices for the other major destinations experienced a decline.

Toluene Imports

Imports into Republic of Korea

In 2021, supplies from abroad of toluene increased by 41% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports posted a significant increase. The growth pace was the most rapid in 2014 with an increase of 405%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, toluene imports surged to $X in 2021. In general, imports showed strong growth. The growth pace was the most rapid in 2014 with an increase of 312%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest toluene supplier to South Korea, accounting for a 71% share of total imports. Moreover, toluene imports from Japan exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+43.0% per year) and China (+19.2% per year).

In value terms, Japan ($X) constituted the largest supplier of toluene to South Korea, comprising 69% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 23% share of total imports. It was followed by China, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+37.0% per year) and China (+13.3% per year).

Import Prices by Country

In 2021, the average toluene import price amounted to $X per ton, increasing by 59% against the previous year. Overall, the import price, however, recorded a deep slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the Philippines ($X per ton) and China ($X per ton), while the price for Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for toluene in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 48% share of global consumption. Japan, Taiwan Chinese), Brazil, Germany, Russia, the UK, Italy, South Korea, Iran and Spain lagged somewhat behind, together accounting for a further 29%.

What are the largest producers of toluene in the world?

The countries with the highest volumes of in 2021 were China, the United States and Japan, together comprising 44% of global production. These countries were followed by India, Germany, Brazil, Taiwan Chinese), Thailand, Russia, the UK, Italy, Singapore and Spain, which together accounted for a further 33%.

What are the leading suppliers of toluene to Republic of Korea?

In value terms, Japan constituted the largest supplier of toluene to South Korea, comprising 78% of total imports. The second position in the ranking was occupied by Taiwan Chinese), with a 20% share of total imports.

What are the leading importers of toluene from Republic of Korea?

In value terms, China, India and Taiwan Chinese) constituted the largest markets for toluene exported from South Korea worldwide, with a combined 72% share of total exports. Vietnam, Japan, the United Arab Emirates and Malaysia lagged somewhat behind, together accounting for a further 19%.

What is the average export price for toluene in Republic of Korea?

In 2021, the average toluene export price amounted to $562 per ton, increasing by 19% against the previous year.

What is the average import price for toluene in Republic of Korea?

The average toluene import price stood at $547 per ton in 2021, waning by -6.6% against the previous year.

This report provides an in-depth analysis of the toluene market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20141225 - Toluene

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023