Republic of Korea: Bleached Sulphate Pulp Market 2024

Bleached Sulphate Pulp Market Size in Republic of Korea

The South Korean bleached sulphate pulp market expanded rapidly to $X in 2021, surging by 8.5% against the previous year. Overall, consumption recorded a pronounced shrinkage. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Bleached Sulphate Pulp Production in Republic of Korea

In value terms, bleached sulphate pulp production soared to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the production volume increased by 38% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Bleached Sulphate Pulp Exports

Exports from Republic of Korea

In 2021, after six years of growth, there was significant decline in shipments abroad of bleached sulphate pulp, when their volume decreased by -20.7% to X tons. In general, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 157% against the previous year. The exports peaked at X tons in 2020, and then fell dramatically in the following year.

In value terms, bleached sulphate pulp exports rose markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 198% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

China (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of bleached sulphate pulp exports from South Korea, together comprising 86% of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +672.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Vietnam ($X) constituted the largest markets for bleached sulphate pulp exported from South Korea worldwide, with a combined 86% share of total exports.

Vietnam, with a CAGR of +667.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2021, the average bleached sulphate pulp export price amounted to $X per ton, picking up by 42% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to Pakistan ($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 (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Bleached Sulphate Pulp Imports

Imports into Republic of Korea

In 2021, bleached sulphate pulp imports into South Korea reduced to X tons, dropping by -5.1% on the year before. In general, imports continue to indicate a slight setback. The pace of growth appeared the most rapid in 2019 when imports increased by 14%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, bleached sulphate pulp imports rose remarkably to $X in 2021. Over the period under review, imports showed a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of 12%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Brazil (X tons), Indonesia (X tons) and Chile (X tons) were the main suppliers of bleached sulphate pulp imports to South Korea, with a combined 57% share of total imports. These countries were followed by Uruguay, Canada, Russia, the United States, Finland and New Zealand, which together accounted for a further 40%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uruguay (with a CAGR of +57.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bleached sulphate pulp suppliers to South Korea were Brazil ($X), Indonesia ($X) and Chile ($X), with a combined 50% share of total imports. These countries were followed by Canada, Uruguay, the United States, Russia, Finland and New Zealand, which together accounted for a further 48%.

In terms of the main suppliers, Finland, with a CAGR of +54.8%, recorded the highest growth rate of 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

The average bleached sulphate pulp import price stood at $X per ton in 2021, rising by 14% against the previous year. Overall, the import price, however, continues to indicate a slight downturn. The pace of growth was the most pronounced in 2018 an increase of 16%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was New Zealand ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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