In 2023, the import value for liquefied ethylene, propylene, butylene, and butadiene to South Korea stood at $61 million. From 2024 onwards, the forecasted data reveal a consistent upward trend. The import values are expected to increase from $63.891 million in 2024 to $75.245 million in 2028. The year-on-year percentage variations are as follows:
• 2024: +4.74%
• 2025: +4.58%
• 2026: +4.29%
• 2027: +4.03%
• 2028: +3.80%
The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is 4.29%. This indicates a stable and consistent increase in imports.
Future trends to watch for include potential changes in industrial demand, impact of new trade agreements, and advancements in alternative chemical technologies. Monitoring geopolitical factors and fluctuating oil prices will also be crucial, as they could affect pricing and supply chain dynamics.
