Republic of Korea: Activated Carbon Market 2024

Activated Carbon Market Size in Republic of Korea

In 2022, the South Korean activated carbon market increased by 2.3% to $X, rising for the sixth consecutive year after two years of decline. The market value increased at an average annual rate of +4.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Activated carbon consumption peaked in 2022 and is expected to retain growth in the immediate term.

Activated Carbon Exports

Exports from Republic of Korea

In 2022, approx. X tons of activated carbon were exported from South Korea; which is down by -5.5% against the previous year's figure. Overall, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by 69% against the previous year. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, activated carbon exports fell modestly to $X in 2022. In general, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2013 when exports increased by 90%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), China (X tons) and Japan (X tons) were the main destinations of activated carbon exports from South Korea, together comprising 73% of total exports. Belgium, Thailand, the United States, Malaysia, the Netherlands, the United Arab Emirates and Taiwan (Chinese) lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +592.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for activated carbon exports from South Korea, comprising 56% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 11% share of total exports. It was followed by Japan, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +24.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+39.8% per year) and Japan (+15.8% per year).

Export Prices by Country

The average activated carbon export price stood at $X per ton in 2022, with an increase of 4.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 62% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Activated Carbon Imports

Imports into Republic of Korea

In 2022, supplies from abroad of activated carbon decreased by -9.9% to X tons for the first time since 2016, thus ending a five-year rising trend. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 18%. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, activated carbon imports expanded modestly to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.7% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 20%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest activated carbon supplier to South Korea, with a 61% share of total imports. Moreover, activated carbon imports from China exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), fivefold. The third position in this ranking was held by India (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+6.4% per year) and India (+11.9% per year).

In value terms, China ($X), the United States ($X) and Japan ($X) appeared to be the largest activated carbon suppliers to South Korea, together comprising 71% of total imports. India, the Philippines, Sri Lanka and Indonesia lagged somewhat behind, together accounting for a further 22%.

Among the main suppliers, India, with a CAGR of +13.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average activated carbon import price stood at $X per ton in 2022, picking up by 16% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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