Price for Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate in South Korea - 2022

Contents:

1. Price for Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate in South Korea (FOB) - 2022
2. Price for Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate in South Korea (CIF) - 2022
3. Exports of Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate in South Korea
4. Imports of Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate in South Korea

Price for Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate in South Korea (FOB) - 2022

In December 2022, the average export price for acids; aromatic polycarboxylic acids; dimethyl terephthalates amounted to $1,256 per ton, rising by 4.7% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in March 2022 when the average export price increased by 9.5% month-to-month. Over the period under review, the average export prices attained the peak figure at $1,357 per ton in July 2022; however, from August 2022 to December 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In December 2022, the countries with the highest prices were Belgium ($1,359 per ton) and Taiwan (Chinese) ($1,345 per ton), while the average price for exports to Japan ($1,125 per ton) and China ($1,263 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 China (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate in South Korea (CIF) - 2022

The average import price for acids; aromatic polycarboxylic acids; dimethyl terephthalates stood at $1,409 per ton in 2022, picking up by 26% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 28%. The import price peaked at $1,766 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($4,620 per ton), while the price for Turkey ($1,110 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the prices for the other major suppliers experienced a decline.

Exports of Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate in South Korea

In 2022, approx. 44K tons of acids; aromatic polycarboxylic acids; dimethyl terephthalates were exported from South Korea; waning by -4.8% on 2021 figures. The total export volume increased at an average annual rate of +2.5% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 16% against the previous year. As a result, the exports attained the peak of 46K tons, and then declined in the following year.

In value terms, exports of acids; aromatic polycarboxylic acids; dimethyl terephthalates skyrocketed to $55M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +11.6% 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 +85.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 51% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate from South Korea in 2022:

1. Japan (20.7K tons)
2. China (20.4K tons)
3. Taiwan (Chinese) (0.9K tons)
4. India (0.6K tons)

Imports of Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate in South Korea

In 2022, supplies from abroad of acids; aromatic polycarboxylic acids; dimethyl terephthalates decreased by -57% to 155 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2020 when imports increased by 23% against the previous year.

In value terms, imports of acids; aromatic polycarboxylic acids; dimethyl terephthalates dropped significantly to $218K in 2022. In general, imports faced a abrupt contraction. The growth pace was the most rapid in 2021 when imports increased by 19%.

Top Suppliers of Acids; Aromatic Polycarboxylic Acids; Dimethyl Terephthalate to South Korea in 2022:

1. Germany (120.1 tons)
2. Turkey (24.0 tons)
3. Japan (9.2 tons)

Source: IndexBox Market Intelligence Platform