Republic of Korea: Market for Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement 2024

Market Size for Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement in Republic of Korea

The South Korean market for articles of asbestos-cement, of cellulose fibre-cement rose markedly to $X in 2021, with an increase of 5.1% against the previous year. In general, consumption, however, recorded a abrupt decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement in Republic of Korea

In value terms, production of articles of asbestos-cement, of cellulose fibre-cement rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by 41% against the previous year. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement

Exports from Republic of Korea

In 2021, overseas shipments of articles of asbestos-cement, of cellulose fibre-cement increased by 247% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 3,383%. Over the period under review, the exports of attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, exports of articles of asbestos-cement, of cellulose fibre-cement skyrocketed to $X in 2021. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 3,355% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Cambodia (X tons), Israel (X tons) and Norway (X tons) were the main destinations of exports of articles of asbestos-cement, of cellulose fibre-cement from South Korea, with a combined 42% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +188.2%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) remains the key foreign market for articles of asbestos-cement, of cellulose fibre-cement exports from South Korea, comprising 48% of total exports. The second position in the ranking was taken by Israel ($X), with a 23% share of total exports. It was followed by Indonesia, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value to Norway totaled +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (0.0% per year) and Indonesia (+27.8% per year).

Export Prices by Country

In 2021, the average export price for articles of asbestos-cement, of cellulose fibre-cement amounted to $X per ton, with a decrease of -58.7% against the previous year. Overall, the export price recorded a pronounced slump. The pace of growth was the most pronounced in 2015 an increase of 70% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then plummeted in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Cambodia ($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 Japan (+30.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement

Imports into Republic of Korea

Imports of articles of asbestos-cement, of cellulose fibre-cement into South Korea contracted remarkably to X tons in 2021, which is down by -45% against 2020 figures. In general, imports saw a perceptible contraction. The pace of growth was the most pronounced in 2016 when imports increased by 1,250%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of articles of asbestos-cement, of cellulose fibre-cement fell rapidly to $X in 2021. Overall, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 1,488% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

In 2021, Malaysia (X tons) was the main supplier of articles of asbestos-cement, of cellulose fibre-cement to South Korea, with a 97% share of total imports. It was followed by the United States (X kg), with a 1.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia totaled -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.2% per year) and China (-25.1% per year).

In value terms, Malaysia ($X) constituted the largest supplier of articles of asbestos-cement, of cellulose fibre-cement to South Korea, comprising 99% of total imports. The second position in the ranking was taken by the United States ($X), with a 0.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia totaled +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.4% per year) and China (-26.3% per year).

Import Prices by Country

The average import price for articles of asbestos-cement, of cellulose fibre-cement stood at $X per ton in 2021, which is down by -4.6% against the previous year. Overall, the import price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 48% against the previous year. The import price peaked at $X per ton in 2020, and then contracted slightly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+18.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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