Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea - 2022
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea (CIF) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea (CIF) - 2022
In 2022, the average import price for acids; saturated acyclic monocarboxylic acids; esters of formic acids amounted to $3,380 per ton, surging by 1.6% against the previous year. Over the period under review, the import price, however, recorded a perceptible descent. The pace of growth appeared the most rapid in 2020 when the average import price increased by 59%. Over the period under review, average import prices reached the maximum at $4,644 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($14,252 per ton), while the price for China ($1,970 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+10.7%), while the prices for the other major suppliers experienced a decline.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; esters of formic acids stood at $3,375 per ton in 2022, with an increase of 36% against the previous year. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for acids; saturated acyclic monocarboxylic acids; esters of formic acids increased by +74.2% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($3,515 per ton), while the average price for exports to Canada ($910 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 the United States (+9.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea
For the fourth year in a row, South Korea recorded growth in supplies from abroad of acids; saturated acyclic monocarboxylic acids; esters of formic acids, which increased by 35% to 317 tons in 2022. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 149% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; esters of formic acids surged to $1.1M in 2022. In general, imports saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 175%. Over the period under review, imports of reached the maximum in 2022 and are likely to continue growth in years to come.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1.4 | 37.2 | 381 | 665 | 680.2% |
| China | 121 | 162 | 267 | 352 | 42.8% |
| United States | N/A | 157 | 105 | N/A | -33.1% |
| Others | 17.4 | 26.6 | 26.3 | 54.1 | 46.0% |
| Total | 139 | 383 | 779 | 1,071 | 97.5% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid to South Korea in 2022:
- China (178.7 tons)
- India (135.3 tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea
In 2022, shipments abroad of acids; saturated acyclic monocarboxylic acids; esters of formic acids decreased by -92.8% to 251 tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a sharp decline. The growth pace was the most rapid in 2020 with an increase of 6.6% against the previous year. As a result, the exports reached the peak of 4.7K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; esters of formic acids declined significantly to $848K in 2022. Overall, exports continue to indicate a significant contraction. The pace of growth appeared the most rapid in 2020 with an increase of 4.4% against the previous year. As a result, the exports reached the peak of $9M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 7.2 | 7.8 | 8.1 | 0.8 | -51.9% |
| United States | 0.3 | 1.1 | 0.6 | N/A | 41.4% |
| Indonesia | 1.0 | N/A | N/A | N/A | 0% |
| Canada | N/A | 0.1 | N/A | N/A | 0% |
| Others | 0.1 | 0.1 | N/A | N/A | 0.0% |
| Total | 8.7 | 9.0 | 8.7 | 0.8 | -54.9% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid from South Korea in 2022:
- India (224.9 tons)
- United States (19.2 tons)
- Canada (6.6 tons)
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