Republic of Korea: Bleached Sulphite Pulp Market 2024

Bleached Sulphite Pulp Market Size in Republic of Korea

In 2022, the South Korean bleached sulphite pulp market increased by 37% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption continues to indicate a moderate expansion. Bleached sulphite pulp consumption peaked in 2022 and is likely to see gradual growth in the near future.

Bleached Sulphite Pulp Exports

Exports from Republic of Korea

Bleached sulphite pulp exports from South Korea dropped rapidly to X kg in 2022, shrinking by -96.3% on 2021. Overall, exports faced a sharp setback. The pace of growth appeared the most rapid in 2021 when exports increased by 4,418% against the previous year. As a result, the exports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, bleached sulphite pulp exports declined notably to $X in 2022. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 207% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X kg) was the main destination for bleached sulphite pulp exports from South Korea, accounting for a 91% share of total exports. Moreover, bleached sulphite pulp exports to Russia exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), more than tenfold.

From 2014 to 2022, the average annual growth rate of volume to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+35.0% per year) and China (-2.5% per year).

In value terms, the largest markets for bleached sulphite pulp exported from South Korea were China ($X), Russia ($X) and Hong Kong SAR ($X).

Among the main countries of destination, Hong Kong SAR, with a CAGR of +31.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average bleached sulphite pulp export price stood at $X per ton in 2022, with an increase of 964% against the previous year. Overall, the export price enjoyed a pronounced increase. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+7.3%), while the prices for the other major destinations experienced a decline.

Bleached Sulphite Pulp Imports

Imports into Republic of Korea

In 2022, supplies from abroad of bleached sulphite pulp increased by 61% to X tons, rising for the third consecutive year after two years of decline. Overall, imports enjoyed slight growth. The most prominent rate of growth was recorded in 2021 with an increase of 173% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, bleached sulphite pulp imports skyrocketed to $X in 2022. In general, imports saw temperate growth. The most prominent rate of growth was recorded in 2021 when imports increased by 157% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Germany (X tons), Russia (X tons) and the United States (X tons) were the main suppliers of bleached sulphite pulp imports to South Korea, together accounting for 99.9% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +26.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of bleached sulphite pulp to South Korea, comprising 79% of total imports. The second position in the ranking was taken by Russia ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+5.9% per year) and the United States (-28.6% per year).

Import Prices by Country

In 2022, the average bleached sulphite pulp import price amounted to $X per ton, waning by -19.3% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bleached sulphite pulp import price decreased by -23.9% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 35% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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