Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in South Korea - 2022

Contents:

1. Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in South Korea (CIF) - 2022
2. Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in South Korea (FOB) - 2022
3. Imports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in South Korea
4. Exports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in South Korea

Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in South Korea (CIF) - 2022

The average import price for acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses stood at $1,340 per ton in December 2022, shrinking by -2.1% against the previous month. In general, the import price continues to indicate a slight slump. The pace of growth was the most pronounced in May 2022 an increase of 11% m-o-m. As a result, import price reached the peak level of $1,883 per ton. From June 2022 to December 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was Malaysia ($1,353 per ton), while the price for Japan ($1,229 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 Japan (-1.7%), while the prices for the other major suppliers experienced a decline.

Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in South Korea (FOB) - 2022

In December 2022, the average export price for acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses amounted to $994 per ton, growing by 9.7% against the previous month. Over the period under review, the export price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in October 2022 an increase of 22% month-to-month. Over the period under review, the average export prices attained the peak figure at $1,693 per ton in May 2022; however, from June 2022 to December 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was the United States ($1,316 per ton), while the average price for exports to India ($815 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 Thailand (+1.6%), while the prices for the other major destinations experienced a decline.

Imports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in South Korea

For the third consecutive year, South Korea recorded decline in supplies from abroad of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses, which decreased by -15.1% to 24K tons in 2022. Overall, imports faced a precipitous shrinkage.

In value terms, imports of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses expanded notably to $40M in 2022. Over the period under review, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 6.7% against the previous year.

Top Suppliers of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts to South Korea in 2022:

1. China (12.0K tons)
2. Japan (11.4K tons)
3. Malaysia (0.6K tons)

Exports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in South Korea

In 2022, the amount of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses exported from South Korea soared to 29K tons, picking up by 25% against the previous year's figure. In general, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +7.8% 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 decreased by -26.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 71%. As a result, the exports attained the peak of 39K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses skyrocketed to $38M in 2022. Over the period under review, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +16.2% 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 +56.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 34%. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.

Top Export Markets for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts from South Korea in 2022:

1. China (14.7K tons)
2. India (7.5K tons)
3. Thailand (2.5K tons)
4. France (1.9K tons)
5. United Arab Emirates (0.6K tons)
6. United States (0.6K tons)

Source: IndexBox Market Intelligence Platform