Republic of Korea: Bismuth Market 2022

Bismuth Market Size in Republic of Korea

After seven years of decline, the South Korean bismuth market increased by 6.1% to $X in 2021. In general, consumption continues to indicate a deep reduction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Bismuth Production in Republic of Korea

In value terms, bismuth production declined modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2014 with an increase of 33%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Bismuth Exports

Exports from Republic of Korea

For the sixth year in a row, South Korea recorded growth in shipments abroad of bismuth, which increased by 8.7% to X tons in 2021. In general, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 116%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, bismuth exports soared to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 178%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X tons), the United States (X tons) and China (X tons) were the main destinations of bismuth exports from South Korea, together comprising 89% of total exports. Japan and the Netherlands lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +66.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bismuth exported from South Korea were Belgium ($X), the United States ($X) and China ($X), with a combined 85% share of total exports. These countries were followed by Japan and the Netherlands, which together accounted for a further 10%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +36.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average bismuth export price amounted to $X per ton, surging by 25% against the previous year. Overall, the export price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 an increase of 28%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 China (-0.0%), while the prices for the other major destinations experienced a decline.

Bismuth Imports

Imports into Republic of Korea

In 2021, approx. X tons of bismuth were imported into South Korea; surging by 11% compared with 2020 figures. Overall, imports posted a prominent increase. The pace of growth was the most pronounced in 2019 when imports increased by 54% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, bismuth imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.6% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of bismuth imports to South Korea, with a combined 100% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +32.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), China ($X) and Taiwan (Chinese) ($X) were the largest bismuth suppliers to South Korea, with a combined 98% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +26.5%, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average bismuth import price amounted to $X per ton, jumping by 40% against the previous year. Overall, the import price, however, recorded a slight decline. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Belgium ($X per ton) and Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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