Republic of Korea: Market for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like 2024

Market Size for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in Republic of Korea

The South Korean articles of fiber cement market fell dramatically to $X in 2022, waning by -49.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2021, and then contracted rapidly in the following year.

Exports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Exports from Republic of Korea

In 2022, shipments abroad of articles of asbestos-cement, cellulose fiber-cement or the like decreased by -28.4% to X tons, falling for the second consecutive year after two years of growth. In general, exports saw a noticeable downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 77% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, articles of fiber cement exports declined significantly to $X in 2022. Overall, exports showed a deep contraction. The pace of growth was the most pronounced in 2019 when exports increased by 17% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for articles of fiber cement exports from South Korea, with a 62% share of total exports. Moreover, articles of fiber cement exports to Japan exceeded the volume sent to the second major destination, the Philippines (X tons), fivefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+41.5% per year) and the United Arab Emirates (-11.4% per year).

In value terms, Japan ($X) remains the key foreign market for articles of asbestos-cement, cellulose fiber-cement or the like exports from South Korea, comprising 55% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total exports. It was followed by the Philippines, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-15.1% per year) and the Philippines (+43.1% per year).

Export Prices by Country

The average articles of fiber cement export price stood at $X per ton in 2022, shrinking by -6.6% against the previous year. Overall, the export price continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 75%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 (+21.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Imports into Republic of Korea

In 2022, approx. X tons of articles of asbestos-cement, cellulose fiber-cement or the like were imported into South Korea; waning by -59.6% against the previous year's figure. Overall, imports continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 21%. Imports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, articles of fiber cement imports declined significantly to $X in 2022. In general, imports, however, continue to indicate measured growth. The pace of growth was the most pronounced in 2016 when imports increased by 33%. Over the period under review, imports hit record highs at $X in 2021, and then fell significantly in the following year.

Imports by Country

China (X tons), Thailand (X tons) and Japan (X tons) were the main suppliers of articles of fiber cement imports to South Korea, together accounting for 69% of total imports. Malaysia, Indonesia and the Philippines lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +85.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest articles of fiber cement suppliers to South Korea were China ($X), Japan ($X) and Thailand ($X), together accounting for 74% of total imports. Malaysia, Indonesia and the Philippines lagged somewhat behind, together accounting for a further 18%.

In terms of the main suppliers, Indonesia, with a CAGR of +99.6%, 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

In 2022, the average articles of fiber cement import price amounted to $X per ton, rising by 37% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, articles of fiber cement import price increased by +57.2% against 2016 indices. 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 Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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