Republic of Korea: Market for Oxalic, Azelaic, Malonic and other Cyclanic, Cylenic or Cycloterpenic Polycarboxylic Acids and Their Salts 2024

Market Size for Oxalic, Azelaic, Malonic and other Cyclanic, Cylenic or Cycloterpenic Polycarboxylic Acids and Their Salts in Republic of Korea

In 2022, the South Korean market for oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts decreased by X% to $X, falling for the second consecutive year after two years of growth. Overall, consumption recorded a pronounced shrinkage. Consumption of peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Oxalic, Azelaic, Malonic and other Cyclanic, Cylenic or Cycloterpenic Polycarboxylic Acids and Their Salts in Republic of Korea

In value terms, production of oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable contraction. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Oxalic, Azelaic, Malonic and other Cyclanic, Cylenic or Cycloterpenic Polycarboxylic Acids and Their Salts

Exports from Republic of Korea

In 2022, overseas shipments of oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts increased by X% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, exports posted resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts surged to $X in 2022. In general, exports enjoyed strong growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Saudi Arabia (X tons), Japan (X tons) and India (X tons) were the main destinations of exports of oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts from South Korea, together accounting for X% of total exports. China, Mexico, the Netherlands, the United States, Egypt, Indonesia, Turkey, Malaysia and Vietnam lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts exported from South Korea were Japan ($X), India ($X) and China ($X), together comprising X% of total exports. Saudi Arabia, Mexico, the United States, the Netherlands, Egypt, Indonesia, Turkey, Vietnam and Malaysia lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price showed a noticeable descent. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 the United States ($X per ton), while the average price for exports to Saudi Arabia ($X 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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oxalic, Azelaic, Malonic and other Cyclanic, Cylenic or Cycloterpenic Polycarboxylic Acids and Their Salts

Imports into Republic of Korea

In 2022, purchases abroad of oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts increased by X% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports of hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts reached $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts supplier to South Korea, accounting for a X% share of total imports. Moreover, imports of oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts to South Korea, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with an X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Germany (X% per year).

Import Prices by Country

The average import price for oxalic, azelaic, malonic and other cyclanic, cylenic or cycloterpenic polycarboxylic acids and their salts stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($X 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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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