Hydantoin Market Overview in South Korea
In value terms, hydantoin production surged to $ in 2019 estimated in export prices. Over the period under review, the total production indicated strong growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Over the period under review, production attained the maximum level in 2019 and is likely to see gradual growth in the immediate term.
The value of the hydantoin market in South Korea rose to $ in 2019, 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). In general, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the market value increased by % year-to-year. As a result, consumption reached the peak level of $. From 2012 to 2019, the growth of the market remained at a somewhat lower figure.