Republic of Korea: Market for Activated Natural Mineral Products 2024

Market Size for Activated Natural Mineral Products in Republic of Korea

In 2021, the South Korean activated natural mineral products market increased by 4.4% to $X, rising for the sixth consecutive year after two years of decline. The market value increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Activated natural mineral products consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Activated Natural Mineral Products in Republic of Korea

In value terms, activated natural mineral products production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 44%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Activated Natural Mineral Products

Exports from Republic of Korea

In 2021, activated natural mineral products exports from South Korea surged to X tons, picking up by 42% against the previous year. Overall, exports recorded buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 305% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, activated natural mineral products exports soared to $X in 2021. In general, exports continue to indicate resilient growth. The growth pace was the most rapid in 2014 with an increase of 313%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), the Philippines (X tons) and China (X tons) were the main destinations of activated natural mineral products exports from South Korea, with a combined 84% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +240.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for activated natural mineral products exported from South Korea were the United Arab Emirates ($X), China ($X) and the Philippines ($X), together accounting for 80% of total exports.

The United Arab Emirates, with a CAGR of +145.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average activated natural mineral products export price stood at $X per ton in 2021, surging by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2019 an increase of 27%. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Activated Natural Mineral Products

Imports into Republic of Korea

Activated natural mineral products imports into South Korea surged to X tons in 2021, growing by 27% against the year before. Overall, imports showed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 71%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, activated natural mineral products imports skyrocketed to $X in 2021. In general, total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.5% against 2018 indices. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Indonesia (X tons) were the main suppliers of activated natural mineral products imports to South Korea, together comprising 96% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +20.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of activated natural mineral products to South Korea, comprising 45% of total imports. The second position in the ranking was taken by India ($X), with a 13% share of total imports. It was followed by Indonesia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.0% per year) and Indonesia (+14.8% per year).

Import Prices by Country

In 2021, the average activated natural mineral products import price amounted to $X per ton, growing by 3.2% against the previous year. In general, the import price, however, showed a abrupt contraction. The growth pace was the most rapid in 2014 when the average import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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