Overview of the Market for Compounds With Other Nitrogen Function in South Korea
In value terms, compounds with other nitrogen function production rose sharply to $ in estimated in export prices. Overall, production showed a modest expansion. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Compounds with other nitrogen function production peaked at $ in 2018; however, from 2019 to , production failed to regain the momentum.
The size of the market for compounds with other nitrogen function (excluding isocyanates) in South Korea surged to $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.