Republic of Korea - Industrial Monocarboxylic Fatty Acids - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Industrial Monocarboxylic Fatty Acids in South Korea - 2022
Contents:
- Price for Industrial Monocarboxylic Fatty Acids in South Korea (CIF) - 2022
- Price for Industrial Monocarboxylic Fatty Acids in South Korea (FOB) - 2022
- Imports of Industrial Monocarboxylic Fatty Acids in South Korea
- Exports of Industrial Monocarboxylic Fatty Acids in South Korea
Price for Industrial Monocarboxylic Fatty Acids in South Korea (CIF) - 2022
In December 2022, the average industrial monocarboxylic fatty acids import price amounted to $856 per ton, dropping by -5.4% against the previous month. Over the period under review, the import price recorded a perceptible downturn. The most prominent rate of growth was recorded in April 2022 an increase of 17% against the previous month. As a result, import price reached the peak level of $1,493 per ton. From May 2022 to December 2022, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the highest price was recorded for prices from China ($949 per ton) and Malaysia ($886 per ton), while the price for Vietnam ($806 per ton) and Indonesia ($807 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the prices for the other major suppliers experienced a decline.
Price for Industrial Monocarboxylic Fatty Acids in South Korea (FOB) - 2022
In December 2022, the average industrial monocarboxylic fatty acids export price amounted to $2,112 per ton, remaining stable against the previous month. Over the period under review, export price indicated a measured increase from December 2021 to December 2022: its price increased at an average monthly rate of +2.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, industrial monocarboxylic fatty acids export price decreased by -16.4% against August 2022 indices. The most prominent rate of growth was recorded in May 2022 when the average export price increased by 38% m-o-m. The export price peaked at $2,525 per ton in August 2022; however, from September 2022 to December 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In December 2022, the country with the highest price was Japan ($4,292 per ton), while the average price for exports to the Philippines ($1,082 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 Malaysia (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Industrial Monocarboxylic Fatty Acids in South Korea
In 2022, approx. 419K tons of industrial monocarboxylic fatty acids were imported into South Korea; which is down by -6.1% on the previous year. The total import volume increased at an average annual rate of +1.8% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 14% against the previous year. As a result, imports attained the peak of 446K tons, and then shrank in the following year.
In value terms, industrial monocarboxylic fatty acids imports declined significantly to $315M in 2022. Over the period under review, imports, however, showed strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 98% against the previous year. As a result, imports reached the peak of $419M, and then fell significantly in the following year.
Import of Industrial Monocarboxylic Fatty Acids in South Korea (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Indonesia | 81.5 | 88.2 | 252 | 189 | 32.4% |
Malaysia | 81.2 | 101 | 115 | 86.3 | 2.1% |
China | 3.2 | 6.6 | 24.9 | 18.7 | 80.1% |
Thailand | 6.4 | 5.2 | 8.0 | 6.0 | -2.1% |
United States | 5.7 | 2.5 | 2.2 | 2.7 | -22.0% |
Others | 14.0 | 8.5 | 16.9 | 12.2 | -4.5% |
Total | 192 | 212 | 419 | 315 | 17.9% |
Top Suppliers of Industrial Monocarboxylic Fatty Acids to South Korea in 2022:
- Indonesia (229.6K tons)
- Malaysia (134.8K tons)
- China (32.2K tons)
- Thailand (6.7K tons)
- United States (6.6K tons)
Exports of Industrial Monocarboxylic Fatty Acids in South Korea
After three years of growth, shipments abroad of industrial monocarboxylic fatty acids decreased by -1.7% to 5.2K tons in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 3.6%. As a result, the exports attained the peak of 5.3K tons, and then dropped modestly in the following year.
In value terms, industrial monocarboxylic fatty acids exports fell to $6.7M 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 +8.6% 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 +28.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 37% against the previous year. As a result, the exports reached the peak of $7.7M, and then declined in the following year.
Export of Industrial Monocarboxylic Fatty Acids in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 2,851 | 3,465 | 5,464 | 4,458 | 16.1% |
Malaysia | 378 | 368 | 732 | 597 | 16.5% |
Taiwan (Chinese) | 418 | 36.1 | 599 | 489 | 5.4% |
Indonesia | 627 | 603 | 217 | 388 | -14.8% |
Vietnam | 370 | 574 | 142 | 291 | -7.7% |
Philippines | 315 | 192 | 181 | 184 | -16.4% |
Japan | 158 | 207 | 221 | 180 | 4.4% |
India | 31.4 | 168 | 44.9 | 65.6 | 27.8% |
Others | 50.0 | 6.2 | 93.8 | 4.3 | -55.9% |
Total | 5,199 | 5,621 | 7,695 | 6,658 | 8.6% |
Top Export Markets for Industrial Monocarboxylic Fatty Acids from South Korea in 2022:
- China (3155.4 tons)
- Malaysia (689.3 tons)
- Indonesia (422.3 tons)
- Taiwan (Chinese) (298.4 tons)
- Vietnam (261.7 tons)
- Philippines (191.2 tons)
- India (125.1 tons)
- Japan (81.3 tons)
This report provides an in-depth analysis of the market for industrial monocarboxylic fatty acids 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 20143195 - Industrial monocarboxylic fatty acids distilled (excluding stearic, oleic tall oil)
- Prodcom 20143197 - Industrial monocarboxylic fatty acids (excluding stearic, oleic, t all oil, distilled)
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
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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
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