Republic of Korea: Vinyl Chloride Market 2024

Vinyl Chloride Market Size in Republic of Korea

In 2022, the South Korean vinyl chloride market increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption saw temperate growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Vinyl Chloride Production in Republic of Korea

In value terms, vinyl chloride production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Vinyl Chloride Exports

Exports from Republic of Korea

In 2022, shipments abroad of vinyl chloride (chloroethylene) decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, vinyl chloride exports dropped remarkably to $X in 2022. Over the period under review, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

China (X tons) was the main destination for vinyl chloride exports from South Korea, with a X% share of total exports. Moreover, vinyl chloride exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) remains the key foreign market for vinyl chloride (chloroethylene) exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average vinyl chloride export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vinyl chloride export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then reduced notably in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the Philippines ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vinyl Chloride Imports

Imports into Republic of Korea

After three years of growth, overseas purchases of vinyl chloride (chloroethylene) decreased by X% to X tons in 2022. Overall, imports, however, showed significant growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then declined markedly in the following year.

In value terms, vinyl chloride imports fell dramatically to $X in 2022. In general, imports, however, posted significant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

Japan (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of vinyl chloride imports to South Korea.

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

In value terms, Japan ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the largest vinyl chloride suppliers to South Korea.

Among the main suppliers, China, with a CAGR of X%, 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

The average vinyl chloride import price stood at $X per ton in 2022, dropping by X% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vinyl chloride import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped dramatically in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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