Price for Polymers of Propylene or of Other Olefins, in Primary Forms in South Korea - 2022

Contents:

1. Price for Polymers of Propylene or of Other Olefins, in Primary Forms in South Korea (FOB) - 2022
2. Price for Polymers of Propylene or of Other Olefins, in Primary Forms in South Korea (CIF) - 2022
3. Exports of Polymers of Propylene or of Other Olefins, in Primary Forms in South Korea
4. Imports of Polymers of Propylene or of Other Olefins, in Primary Forms in South Korea

Price for Polymers of Propylene or of Other Olefins, in Primary Forms in South Korea (FOB) - 2022

The average export price for polymers of propylene or of other olefins, in primary formses stood at $1,133 per ton in December 2022, with a decrease of -4.7% against the previous month. In general, the export price continues to indicate a mild decrease. The most prominent rate of growth was recorded in March 2022 an increase of 7.7% m-o-m. Over the period under review, the average export prices reached the maximum at $1,549 per ton in April 2022; however, from May 2022 to December 2022, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($1,436 per ton), while the average price for exports to Nigeria ($924 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 Japan (-1.1%), while the prices for the other major destinations experienced a decline.

Price for Polymers of Propylene or of Other Olefins, in Primary Forms in South Korea (CIF) - 2022

The average import price for polymers of propylene or of other olefins, in primary formses stood at $3,158 per ton in December 2022, declining by -4.2% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in September 2022 an increase of 8.5% against the previous month. The import price peaked at $3,627 per ton in October 2022; however, from November 2022 to December 2022, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($4,055 per ton), while the price for Vietnam ($2,083 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 France (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Polymers of Propylene or of Other Olefins, in Primary Forms in South Korea

In 2022, after three years of growth, there was significant decline in overseas shipments of polymers of propylene or of other olefins, in primary formses, when their volume decreased by -5.6% to 3.8M tons. The total export volume increased at an average annual rate of +4.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 17% against the previous year. As a result, the exports reached the peak of 4M tons, and then shrank in the following year.

In value terms, exports of polymers of propylene or of other olefins, in primary formses shrank to $5B in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +6.7% 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 +33.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 52% against the previous year. As a result, the exports reached the peak of $5.7B, and then contracted in the following year.

Top Export Markets for Polymers of Propylene or of Other Olefins, in Primary Forms from South Korea in 2022:

1. China (1100.2K tons)
2. Vietnam (552.6K tons)
3. Japan (205.0K tons)
4. Indonesia (189.9K tons)
5. Turkey (188.0K tons)
6. United States (165.5K tons)
7. Italy (85.9K tons)
8. Nigeria (83.1K tons)
9. India (75.0K tons)
10. Belgium (72.5K tons)
11. Mexico (71.3K tons)
12. Thailand (61.1K tons)
13. Poland (58.0K tons)

Imports of Polymers of Propylene or of Other Olefins, in Primary Forms in South Korea

In 2022, the amount of polymers of propylene or of other olefins, in primary formses imported into South Korea fell to 62K tons, which is down by -10.5% against the previous year's figure. Over the period under review, imports saw a slight curtailment. The pace of growth was the most pronounced in 2021 with an increase of 25% against the previous year. As a result, imports attained the peak of 70K tons, and then contracted in the following year.

In value terms, imports of polymers of propylene or of other olefins, in primary formses fell slightly to $204M in 2022. The total import value increased at an average annual rate of +4.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 31% against the previous year. As a result, imports reached the peak of $207M, and then declined modestly in the following year.

Top Suppliers of Polymers of Propylene or of Other Olefins, in Primary Forms to South Korea in 2022:

1. United States (14.0K tons)
2. Singapore (10.2K tons)
3. Japan (7.3K tons)
4. Netherlands (6.2K tons)
5. China (4.2K tons)
6. Spain (2.9K tons)
7. Thailand (2.5K tons)
8. France (2.1K tons)
9. Vietnam (1.9K tons)
10. Italy (1.8K tons)
11. Germany (1.8K tons)
12. Belgium (1.7K tons)

Source: IndexBox Market Intelligence Platform