Apr 4, 2026
According to a report from Euronews, the leaders of France and South Korea have agreed to collaborate on efforts to reopen the Strait of Hormuz and reduce global economic instability. The agreement was reached during a meeting in Seoul between French President Emmanuel Macron and South Korean President Lee Jae-myung. Macron stated that both nations could contribute to stabilizing the Middle East region, while Lee confirmed a shared resolve to secure safe shipping through the strait.
The leaders did not provide specifics on how the reopening would be achieved. The narrow waterway, a critical passage for a significant portion of the world’s oil, has been largely closed since late February. The two presidents also agreed to broaden bilateral cooperation in technology, energy, and other sectors. Officials from both countries signed agreements concerning nuclear fuel supply chains, a joint investment in a South Korean offshore wind project, and collaboration on critical minerals.
The summit occurred alongside recent comments from the current President of the United States, who criticized allies for a lack of support for military actions and suggested that other nations dependent on the strait should secure it. Macron has previously described a military operation to reopen the waterway as unrealistic. South Korean officials noted they were in communication with Washington on the matter and were not considering payments to Iran for transit.
Separately, Iran issued a warning to the United Nations Security Council against what it called provocative actions, specifically referencing a planned vote on a draft resolution about the strait. The proposed resolution, brought by Bahrain, would have authorized a protective force for shipping. The scheduled vote was subsequently postponed without a new date being set.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
REPORT DESCRIPTION
RESEARCH METHODOLOGY AND THE AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
KEY FINDINGS
MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCTS
MOST TRADED PRODUCTS
MOST PROFITABLE PRODUCTS FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
TOP CONSUMING MARKETS
UNSATURATED MARKETS
TOP IMPORTING MARKETS
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
8. IMPORTS
The Largest Import Supplying Countries
IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
9. EXPORTS
The Largest Destinations for Exports
EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition
PRO
11.1
United States
Market SizeProductionImportsExports
11.2
China
Market SizeProductionImportsExports
11.3
Japan
Market SizeProductionImportsExports
11.4
Germany
Market SizeProductionImportsExports
11.5
United Kingdom
Market SizeProductionImportsExports
11.6
France
Market SizeProductionImportsExports
11.7
Brazil
Market SizeProductionImportsExports
11.8
Italy
Market SizeProductionImportsExports
11.9
Russian Federation
Market SizeProductionImportsExports
11.10
India
Market SizeProductionImportsExports
11.11
Canada
Market SizeProductionImportsExports
11.12
Australia
Market SizeProductionImportsExports
11.13
Republic of Korea
Market SizeProductionImportsExports
11.14
Spain
Market SizeProductionImportsExports
11.15
Mexico
Market SizeProductionImportsExports
11.16
Indonesia
Market SizeProductionImportsExports
11.17
Netherlands
Market SizeProductionImportsExports
11.18
Turkey
Market SizeProductionImportsExports
11.19
Saudi Arabia
Market SizeProductionImportsExports
11.20
Switzerland
Market SizeProductionImportsExports
11.21
Sweden
Market SizeProductionImportsExports
11.22
Nigeria
Market SizeProductionImportsExports
11.23
Poland
Market SizeProductionImportsExports
11.24
Belgium
Market SizeProductionImportsExports
11.25
Argentina
Market SizeProductionImportsExports
11.26
Norway
Market SizeProductionImportsExports
11.27
Austria
Market SizeProductionImportsExports
11.28
Thailand
Market SizeProductionImportsExports
11.29
United Arab Emirates
Market SizeProductionImportsExports
11.30
Colombia
Market SizeProductionImportsExports
11.31
Denmark
Market SizeProductionImportsExports
11.32
South Africa
Market SizeProductionImportsExports
11.33
Malaysia
Market SizeProductionImportsExports
11.34
Israel
Market SizeProductionImportsExports
11.35
Singapore
Market SizeProductionImportsExports
11.36
Egypt
Market SizeProductionImportsExports
11.37
Philippines
Market SizeProductionImportsExports
11.38
Finland
Market SizeProductionImportsExports
11.39
Chile
Market SizeProductionImportsExports
11.40
Ireland
Market SizeProductionImportsExports
11.41
Pakistan
Market SizeProductionImportsExports
11.42
Greece
Market SizeProductionImportsExports
11.43
Portugal
Market SizeProductionImportsExports
11.44
Kazakhstan
Market SizeProductionImportsExports
11.45
Algeria
Market SizeProductionImportsExports
11.46
Czech Republic
Market SizeProductionImportsExports
11.47
Qatar
Market SizeProductionImportsExports
11.48
Peru
Market SizeProductionImportsExports
11.49
Romania
Market SizeProductionImportsExports
11.50
Vietnam
Market SizeProductionImportsExports
LIST OF TABLES
Key Findings In 2025
Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
Per Capita Consumption, by Country, 2022–2025
Production, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
LIST OF FIGURES
Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
Consumption, by Country, 2025
Market Volume Forecast to 2035
Market Value Forecast to 2035
Market Size and Growth, By Product
Average Per Capita Consumption, By Product
Exports and Growth, By Product
Export Prices and Growth, By Product
Production Volume and Growth
Exports and Growth
Export Prices and Growth
Market Size and Growth
Per Capita Consumption
Imports and Growth
Import Prices
Production, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Production, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Production, by Country, 2025
Production, In Physical Terms, by Country: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms, By Country, 2025
Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Physical Terms, By Country, 2025
Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)