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Republic of Korea - Biodiesel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBiodiesel Price in South Korea - 2022
Contents:
- Biodiesel Price in South Korea (FOB) - 2022
- Biodiesel Price in South Korea (CIF) - 2022
- Biodiesel Exports in South Korea
- Biodiesel Imports in South Korea
Biodiesel Price in South Korea (FOB) - 2022
The average biodiesel export price stood at $1,605 per ton in December 2022, which is down by -8.3% against the previous month. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2022 an increase of 7.5% m-o-m. The export price peaked at $1,876 per ton in May 2022; however, from June 2022 to December 2022, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major export markets. In December 2022, the country with the highest price was the United States ($1,765 per ton), while the average price for exports to Spain ($1,410 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.2%), while the prices for the other major destinations experienced a decline.
Biodiesel Price in South Korea (CIF) - 2022
The average biodiesel import price stood at $810 per ton in December 2022, picking up by 5.4% against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2022 an increase of 19% month-to-month. As a result, import price reached the peak level of $1,152 per ton. From September 2022 to December 2022, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the Philippines ($1,645 per ton), while the price for the United Arab Emirates ($604 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Biodiesel Exports in South Korea
After three years of growth, overseas shipments of biodiesel decreased by -2% to 195K tons in 2022. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +18.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 61% against the previous year.
In value terms, biodiesel exports shrank to $247M in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 86% against the previous year.
Export of Biodiesel in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Netherlands | 49.0 | 113 | 130 | 131 | 38.8% |
United States | 55.1 | 85.5 | 115 | 116 | 28.2% |
Others | 5.4 | 5.4 | 44.0 | N/A | 185.4% |
Total | 109 | 204 | 289 | 247 | 31.3% |
Top Export Markets for Biodiesel from South Korea in 2022:
- Netherlands (107.2K tons)
- United States (88.3K tons)
Biodiesel Imports in South Korea
In 2022, imports of biodiesel into South Korea contracted to 5.6K tons, falling by -12.1% on the previous year's figure. Overall, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 176%.
In value terms, biodiesel imports fell significantly to $3.8M in 2022. Over the period under review, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of 104%. As a result, imports attained the peak of $5.1M, and then shrank significantly in the following year.
Import of Biodiesel in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Philippines | 1,548 | 1,188 | 1,738 | 1,258 | -6.7% |
China | 1.6 | 0.1 | 1,614 | 1,168 | 800.4% |
Netherlands | 1,009 | 1,012 | 832 | 602 | -15.8% |
Indonesia | 2,068 | 216 | 543 | 507 | -37.4% |
United States | 5.9 | 61.5 | 247 | 179 | 211.9% |
Others | 97.8 | 28.3 | 140 | 96.5 | -0.4% |
Total | 4,731 | 2,506 | 5,114 | 3,810 | -7.0% |
Top Suppliers of Biodiesel to South Korea in 2022:
- China (2420.0 tons)
- Indonesia (1418.3 tons)
- Philippines (785.4 tons)
- United States (470.5 tons)
- Netherlands (416.8 tons)
This report provides an in-depth analysis of the biodiesel 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 20595997 - Biofuels (diesel substitute)
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:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
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
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the biodiesel market in Republic of Korea.
This report provides an in-depth analysis of the global biodiesel market.
This report provides an in-depth analysis of the biodiesel market in Republic of Korea.
This report provides an in-depth analysis of the global biodiesel market.
Explore the top import markets for biodiesel globally and understand the key statistics and trends. Discover the countries leading the biodiesel import market and their import values as per the IndexBox market intelligence platform.
Discover the top import markets for biodiesel and how these countries are driving the growth of the industry. Learn why the Netherlands, Belgium, France, Germany, and Spain are leading the way in biodiesel imports.
This year, Belgium is overtaking Germany to emerge as the second-largest biodiesel exporter in the world. From January to July 2021, Belgium supplied biodiesel worth $2.1B abroad, while Germany’s exports were estimated at $1.8B. The Netherlands keeps the leading position with a biodiesel export value of $4.2B. In 2020, Germany ($2.3B) followed the Netherlands ($4.6B) in global export ranking, while Belgium ($1.5B) took third place. The average biodiesel export price grew by +11% y-o-y to $979 per ton in 2020.
Neither the pandemic nor the low oil prices succeeded in slowing the growth of the global biodiesel market. As economies worldwide start to recover from the Covid crisis, and environmental concerns increase, the demand is set to remain robust in 2021.
Explore the top import markets for biodiesel globally and understand the key statistics and trends. Discover the countries leading the biodiesel import market and their import values as per the IndexBox market intelligence platform.
Discover the top import markets for biodiesel and how these countries are driving the growth of the industry. Learn why the Netherlands, Belgium, France, Germany, and Spain are leading the way in biodiesel imports.
This year, Belgium is overtaking Germany to emerge as the second-largest biodiesel exporter in the world. From January to July 2021, Belgium supplied biodiesel worth $2.1B abroad, while Germany’s exports were estimated at $1.8B. The Netherlands keeps the leading position with a biodiesel export value of $4.2B. In 2020, Germany ($2.3B) followed the Netherlands ($4.6B) in global export ranking, while Belgium ($1.5B) took third place. The average biodiesel export price grew by +11% y-o-y to $979 per ton in 2020.
Neither the pandemic nor the low oil prices succeeded in slowing the growth of the global biodiesel market. As economies worldwide start to recover from the Covid crisis, and environmental concerns increase, the demand is set to remain robust in 2021.