Phenols; Phenol-Alcohols Price in South Korea - 2022
Contents:
- Phenols; Phenol-Alcohols Price in South Korea (FOB) - 2022
- Phenols; Phenol-Alcohols Price in South Korea (CIF) - 2022
- Phenols; Phenol-Alcohols Exports in South Korea
- Phenols; Phenol-Alcohols Imports in South Korea
Phenols; Phenol-Alcohols Price in South Korea (FOB) - 2022
The average phenols; phenol-alcohols export price stood at $1,223 per ton in December 2022, dropping by -10.1% against the previous month. Overall, the export price recorded a pronounced descent. The most prominent rate of growth was recorded in January 2022 an increase of 6.1% month-to-month. The export price peaked at $1,930 per ton in May 2022; however, from June 2022 to December 2022, the export prices remained at a lower figure.
Average prices varied somewhat for the major export markets. In December 2022, the highest price was recorded for prices to Thailand ($1,503 per ton) and Saudi Arabia ($1,437 per ton), while the average price for exports to Taiwan (Chinese) ($1,013 per ton) and India ($1,143 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-1.4%), while the prices for the other major destinations experienced a decline.
Phenols; Phenol-Alcohols Price in South Korea (CIF) - 2022
The average phenols; phenol-alcohols import price stood at $2,033 per ton in December 2022, which is down by -10.2% against the previous month. Over the period under review, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 20% month-to-month. Over the period under review, average import prices reached the maximum at $2,855 per ton in May 2022; however, from June 2022 to December 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($6,414 per ton), while the price for Thailand ($1,217 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 the United States (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Phenols; Phenol-Alcohols Exports in South Korea
Phenols; phenol-alcohols exports from South Korea contracted remarkably to 521K tons in 2022, reducing by -31.9% compared with 2021 figures. Over the period under review, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 29%. As a result, the exports attained the peak of 765K tons, and then fell sharply in the following year.
In value terms, phenols; phenol-alcohols exports fell dramatically to $848M in 2022. In general, total exports indicated a tangible expansion from 2019 to 2022: its value increased at an average annual rate of +2.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +40.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 87%. As a result, the exports attained the peak of $1.1B, and then reduced remarkably in the following year.
| Export of Phenols; Phenol-Alcohols in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 400 | 320 | 498 | 327 | -6.5% |
| Japan | 111 | 105 | 147 | 157 | 12.3% |
| Taiwan (Chinese) | 98.9 | 31.6 | 125 | 97.6 | -0.4% |
| India | 72.3 | 52.5 | 132 | 78.8 | 2.9% |
| Thailand | 21.2 | 33.1 | 69.2 | 42.3 | 25.9% |
| Saudi Arabia | 11.5 | 6.9 | 10.7 | 26.6 | 32.2% |
| Germany | 12.1 | 7.7 | 26.1 | 23.8 | 25.3% |
| Others | 52.1 | 46.6 | 123 | 95.0 | 22.2% |
| Total | 779 | 603 | 1,130 | 848 | 2.9% |
Top Export Markets for Phenols; Phenol-Alcohols from South Korea in 2022:
- China (191.7K tons)
- Japan (106.2K tons)
- Taiwan (Chinese) (72.1K tons)
- India (49.4K tons)
- Thailand (20.6K tons)
- Germany (15.6K tons)
- Saudi Arabia (15.4K tons)
Phenols; Phenol-Alcohols Imports in South Korea
In 2022, supplies from abroad of phenols; phenol-alcoholses decreased by -18.4% to 185K tons, falling for the second year in a row after two years of growth. In general, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 4.9%. As a result, imports attained the peak of 243K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, phenols; phenol-alcohols imports reduced markedly to $442M in 2022. Overall, total imports indicated a measured expansion from 2019 to 2022: its value increased at an average annual rate of +4.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +16.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 52%. As a result, imports reached the peak of $576M, and then declined markedly in the following year.
| Import of Phenols; Phenol-Alcohols in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 57.5 | 79.0 | 186 | 129 | 30.9% |
| Japan | 138 | 154 | 206 | 124 | -3.5% |
| China | 21.5 | 21.5 | 38.8 | 46.4 | 29.2% |
| Thailand | 55.1 | 38.6 | 49.2 | 40.9 | -9.5% |
| India | 8.6 | 6.5 | 18.7 | 28.9 | 49.8% |
| United States | 26.2 | 20.9 | 21.7 | 22.1 | -5.5% |
| Singapore | 41.4 | 28.7 | 24.2 | 20.7 | -20.6% |
| Others | 36.6 | 29.0 | 31.5 | 30.2 | -6.2% |
| Total | 385 | 379 | 576 | 442 | 4.7% |
Top Suppliers of Phenols; Phenol-Alcohols to South Korea in 2022:
- Taiwan (Chinese) (65.0K tons)
- Japan (53.8K tons)
- Thailand (30.5K tons)
- China (10.2K tons)
- Singapore (9.7K tons)
- India (5.8K tons)
- United States (4.6K tons)
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