The Thriving Inorganic Chemicals Export of South Korea in 2024

South Korea, located on the eastern coast of Asia, sharing borders with the Yellow Sea and the Sea of Japan in the west and east directions, has emerged as a leading exporter of inorganic chemicals in the international trade market. The country, surrounded by China and Japan to the west and southeast, has seen a rebound in petrochemical production and an increase in export capacity, recording a growth rate of 2.2% in inorganic chemicals exports in 2024. South Korea export data says, the high-value chemical material development, specifically for semiconductors, batteries, and other tech-critical sectors, has initiated the public-private collaboration, fueling the overall export revenue of inorganic chemical exports.

The government-led chemical industry expansion process and the geopolitical shift in supply chain diversification, accompanied by the large-scale chemical production projects operated at different locations across the residential region, have led to a wide export of specific commodities. Companies like Lotte Chemicals and Hanwha Chemicals are the most pivotal for the growth rate of inorganic chemicals exports, which have recorded an annual export trade value of 18 billion US dollars in 2024. Import Globals, a leading data provider platform, provides a detailed analysis of the overall valuation of inorganic chemicals exported. Subscribe to Import Globals to keep up-to-date information on the South Korea Import Data.

GOVERNMENT INITIATIVES SUPPORTING THE EXPORT OF INORGANIC CHEMICALS FROM SOUTH KOREA

The government authorities of South Korea collectively work to record the export market of the region as a ranking one among the global traders. The K-REACH registration support program for small and medium enterprises has offered around 80–90% of cost coverage for alternative technologies. Supporting data gap analysis and exposure scenario tools, the initiative has lowered the regulatory and financial entry barriers and accelerated compliance and smoother access overseas.

The R&D and value-added chemical industry strategy via MOTIE has identified and nurtured 30 high-potential materials companies. This initiative has boosted the domestic innovation in specialty and inorganic chemicals. It has increased the competitiveness in the global high-end chemical market. The petrochemical industry restructuring and financial package has allowed the petrochemical producers to ramp up their specific export capacity in accordance with the global demand report. The Record Trade Finance and Export Insurance Support is another pivotal initiative that has provided exporters, like chemical suppliers, a risk-buffer facility. This initiative boosts the chemical shipment amidst the volatile trade conditions.

THE LEADING VARIANTS OF INORGANIC CHEMICALS EXPORTED FROM SOUTH KOREA

South Korea has been a top exporter of inorganic chemicals due to the rising global demand and the increasing production capacity. According to the South Korea Export Data, the top 10 leading variants of inorganic chemicals exported from the nation in 2024 are,

  1. Peroxometallic Acids — The annual valuation of Peroxometallic Acids exported from South Korea in 2024–6.5 billion US dollars
  2. Peroxosulfates — The annual valuation of Peroxosulfates exported from South Korea in 2024–4.7 billion US dollars
  3. Carbonates — The annual valuation of Carbonates exported from South Korea in 2024–3.8 billion US dollars
  4. Rare Gases — The annual valuation of Rare Gases exported from South Korea in 2024–2.89 billion US dollars
  5. Hydrazine — The annual valuation of Hydrazine exported from South Korea in 2024–1.65 billion US dollars
  6. Fluorides — The annual valuation of Fluorides exported from South Korea in 2024–1 billion US dollars
  7. Inorganic Acids — The annual valuation of Inorganic Acids exported from South Korea in 2024–987 million US dollars
  8. Isotopes — The annual valuation of Isotopes exported from South Korea in 2024–814 million US dollars
  9. Carbon — The annual valuation of Carbon exported from South Korea in 2024–726 million US dollars
  10. Halides and Halide Oxides — The annual valuation of Halides and Halide Oxides exported from South Korea in 2024–567 million US dollars

THE TOP 10 IMPORT TRADE PARTNERS OF SOUTH KOREA FOR INORGANIC CHEMICALS IN 2024

The stronger relationship of bilateral trade with emerging markets, specifically due to the valuable pricing ranges offered, has led to stability in the revenue rate. According to the South Korea Customs Data, the top 10 export trade partners of the nation in 2024 are,

  • China — The annual valuation of inorganic chemicals exported from South Korea to China in 2024–8.76 billion US dollars

Top 5 variants of inorganic chemicals exported

1. Sodium hydroxide (NaOH)

2. Potassium hydroxide (KOH)

3. Calcium hydroxide (Ca(OH)₂)

4. Barium hydroxide (Ba(OH)₂)

5. Magnesium hydroxide (Mg(OH)₂)

  • United States — The annual valuation of inorganic chemicals exported from South Korea to the United States in 2024–6.42 billion US dollars

Top 5 variants of inorganic chemicals exported

1. Hydrochloric acid (HCl)

2. Sulfuric acid (H₂SO₄)

3. Nitric acid (HNO₃)

4. Phosphoric acid (H₃PO₄)

5. Boric acid (H₃BO₃)

  • Japan — The annual valuation of inorganic chemicals exported from South Korea to Japan in 2024–5.41 billion US dollars

Top 5 variants of inorganic chemicals exported

1. Hydrofluoric acid (HF)

2. Hydrobromic acid (HBr)

3. Hydriodic acid (HI)

4. Chromic acid (H₂CrO₄)

5. Perchloric acid (HClO₄)

  • India — The annual valuation of inorganic chemicals exported from South Korea to India in 2024–3.89 billion US dollars

Top 5 variants of inorganic chemicals exported

1. Lithium hydroxide (LiOH)

2. Aluminum hydroxide (Al(OH)₃)

3. Ammonium hydroxide (NH₄OH)

4. Strontium hydroxide (Sr(OH)₂)

5. Iron(III) hydroxide (Fe(OH)₃)

  • Germany — The annual valuation of inorganic chemicals exported from South Korea to Germany in 2024–2.76 billion US dollars

Top 5 variants of inorganic chemicals exported

1. Water (H₂O)

2. Carbon dioxide (CO₂)

3. Carbon monoxide (CO)

4. Sulfur dioxide (SO₂)

5. Sulfur trioxide (SO₃)

  • European Union — The annual valuation of inorganic chemicals exported from South Korea to the European Union in 2024–1.87 billion US dollars

Top 5 variants of inorganic chemicals exported

1. Nitric oxide (NO)

2. Nitrogen dioxide (NO₂)

3. Dinitrogen tetroxide (N₂O₄)

4. Aluminum oxide (Al₂O₃)

5. Iron(III) oxide (Fe₂O₃)

  • Canada — The annual valuation of inorganic chemicals exported from South Korea to Canada in 2024–1.65 billion US dollars

Top 5 variants of inorganic chemicals exported

1. Potassium chloride (KCl)

2. Calcium chloride (CaCl₂)

3. Lithium chloride (LiCl)

4. Sodium fluoride (NaF)

5. Calcium fluoride (CaF₂)

  • Russia — The annual valuation of inorganic chemicals exported from South Korea to Russia in 2024–1.21 billion US dollars

Top 5 variants of inorganic chemicals exported

1. Sodium carbonate (Na₂CO₃)

2. Potassium carbonate (K₂CO₃)

3. Calcium carbonate (CaCO₃)

4. Magnesium carbonate (MgCO₃)

5. Lithium carbonate (Li₂CO₃)

  • Taiwan — The annual valuation of inorganic chemicals exported from South Korea to Taiwan in 2024–887 million US dollars

Top 5 variants of inorganic chemicals exported

1. Barium carbonate (BaCO₃)

2. Strontium carbonate (SrCO₃)

3. Ammonium carbonate ((NH₄)₂CO₃)

4. Zinc carbonate (ZnCO₃)

5. Iron(II) carbonate (FeCO₃)

  • Netherlands — The annual valuation of inorganic chemicals exported from South Korea to the Netherlands in 2024–765 million US dollars

Top 5 variants of inorganic chemicals exported

1. Strontium sulfate (SrSO₄)

2. Copper(II) sulfate (CuSO₄)

3. Zinc sulfate (ZnSO₄)

4. Ammonium sulfate ((NH₄)₂SO₄)

5. Iron(II) sulfate (FeSO₄)

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