Price for Poly(Lactic Acid); in Primary Forms in South Korea - 2022

Contents:

1. Price for Poly(Lactic Acid); in Primary Forms in South Korea (CIF) - 2022
2. Price for Poly(Lactic Acid); in Primary Forms in South Korea (FOB) - 2022
3. Imports of Poly(Lactic Acid); in Primary Forms in South Korea
4. Exports of Poly(Lactic Acid); in Primary Forms in South Korea

Price for Poly(Lactic Acid); in Primary Forms in South Korea (CIF) - 2022

The average import price for poly(lactic acid); in primary formses stood at $2,422 per ton in 2022, with a decrease of -2.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2018 an increase of 11%. The import price peaked at $2,482 per ton in 2021, and then reduced modestly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($2,937 per ton), while the price for the United States ($2,040 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 (+0.2%).

Price for Poly(Lactic Acid); in Primary Forms in South Korea (FOB) - 2022

In 2022, the average export price for poly(lactic acid); in primary formses amounted to $4,311 per ton, dropping by -19.6% against the previous year. In general, the export price, however, saw a pronounced increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 60%. Over the period under review, the average export prices reached the peak figure at $5,365 per ton in 2021, and then declined notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($6,756 per ton), while the average price for exports to Malaysia ($730 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 Taiwan (Chinese) (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Poly(Lactic Acid); in Primary Forms in South Korea

In 2022, poly(lactic acid); in primary forms imports into South Korea skyrocketed to 8.4K tons, jumping by 29% compared with the previous year. Overall, total imports indicated temperate growth from 2019 to 2022: its volume increased at an average annual rate of +4.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.3% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 38%. As a result, imports reached the peak of 10K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, poly(lactic acid); in primary forms imports surged to $20M in 2022. In general, total imports indicated a perceptible expansion from 2019 to 2022: its value increased at an average annual rate of +4.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. As a result, imports reached the peak of $24M. From 2021 to 2022, the growth of imports failed to regain momentum.

Top Suppliers of Poly(Lactic Acid); in Primary Forms to South Korea in 2022:

1. United States (4.8K tons)
2. China (3.1K tons)
3. Netherlands (0.1K tons)

Exports of Poly(Lactic Acid); in Primary Forms in South Korea

In 2022, approx. 283 tons of poly(lactic acid); in primary formses were exported from South Korea; remaining constant against the year before. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 85% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, poly(lactic acid); in primary forms exports dropped remarkably to $1.2M in 2022. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 163%.

Top Export Markets for Poly(Lactic Acid); in Primary Forms from South Korea in 2022:

1. China (73.2 tons)
2. Taiwan (Chinese) (57.1 tons)
3. United Kingdom (52.2 tons)
4. Pakistan (31.3 tons)
5. Vietnam (16.4 tons)
6. Malaysia (15.7 tons)
7. Malta (10.0 tons)
8. Zambia (8.0 tons)
9. New Zealand (2.4 tons)

Source: IndexBox Market Intelligence Platform