Republic of Korea: Market for Articles Of Cellulose Fibre-Cement, Not Containing Asbestos 2024

Market Size for Articles Of Cellulose Fibre-Cement, Not Containing Asbestos in Republic of Korea

The South Korean market for articles of cellulose fibre-cement, not containing asbestos expanded modestly to $X in 2022, with an increase of 3.3% against the previous year. Overall, consumption continues to indicate a prominent increase. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Articles Of Cellulose Fibre-Cement, Not Containing Asbestos in Republic of Korea

In value terms, production of articles of cellulose fibre-cement, not containing asbestos rose modestly to $X in 2022 estimated in export price. In general, production saw buoyant growth. The growth pace was the most rapid in 2015 when the production volume increased by 65%. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Articles Of Cellulose Fibre-Cement, Not Containing Asbestos

Exports from Republic of Korea

In 2022, after two years of decline, there was growth in overseas shipments of articles of cellulose fibre-cement, not containing asbestos, when their volume increased by 0.1% to X tons. Overall, exports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2017 with an increase of 118% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of articles of cellulose fibre-cement, not containing asbestos contracted markedly to $X in 2022. In general, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 22% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for exports of articles of cellulose fibre-cement, not containing asbestos from South Korea, accounting for a 98% share of total exports. It was followed by Malaysia (X tons), with a 1.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to +6.6%.

In value terms, Japan ($X) remains the key foreign market for articles of cellulose fibre-cement, not containing asbestos exports from South Korea, comprising 96% of total exports. The second position in the ranking was held by Malaysia ($X), with a 1.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Japan totaled +7.0%.

Export Prices by Country

In 2022, the average export price for articles of cellulose fibre-cement, not containing asbestos amounted to $X per ton, with a decrease of -16.3% against the previous year. In general, the export price continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2016 when the average export price increased by 139%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Malaysia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+37.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Cellulose Fibre-Cement, Not Containing Asbestos

Imports into Republic of Korea

In 2022, the amount of articles of cellulose fibre-cement, not containing asbestos imported into South Korea shrank slightly to X tons, waning by -3.8% compared with 2021 figures. Over the period under review, imports showed a precipitous decrease. The growth pace was the most rapid in 2019 with an increase of 503% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, imports of articles of cellulose fibre-cement, not containing asbestos expanded rapidly to $X in 2022. Overall, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 when imports increased by 308%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X tons) constituted the largest articles of cellulose fibre-cement, not containing asbestos supplier to South Korea, with a 57% share of total imports. Moreover, imports of articles of cellulose fibre-cement, not containing asbestos from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.5% per year) and the United States (+39.3% per year).

In value terms, the largest articles of cellulose fibre-cement, not containing asbestos suppliers to South Korea were the United States ($X), Japan ($X) and China ($X), with a combined 99.9% share of total imports.

The United States, with a CAGR of +24.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for articles of cellulose fibre-cement, not containing asbestos amounted to $X per ton, growing by 12% against the previous year. In general, the import price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 62% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+26.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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