Republic of Korea: Cadmium Market 2024

Cadmium Market Size in Republic of Korea

The South Korean cadmium market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption recorded a resilient increase. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Cadmium Production in Republic of Korea

In value terms, cadmium production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 with an increase of 24%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Cadmium Exports

Exports from Republic of Korea

After two years of growth, overseas shipments of cadmium and articles thereof decreased by -5.4% to X tons in 2022. Over the period under review, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 46% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, cadmium exports shrank modestly to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 78%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), India (X tons) and Hong Kong SAR (X tons) were the main destinations of cadmium exports from South Korea, together comprising 96% of total exports. The UK lagged somewhat behind, accounting for a further 3.5%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +14.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cadmium exported from South Korea were China ($X), India ($X) and Hong Kong SAR ($X), together comprising 95% of total exports. These countries were followed by the UK, which accounted for a further 4.3%.

In terms of the main countries of destination, the UK, with a CAGR of +19.3%, recorded 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

In 2022, the average cadmium export price amounted to $X per ton, approximately reflecting the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cadmium export price decreased by -21.4% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 72% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and Hong Kong SAR ($X per ton), while the average price for exports to China ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cadmium Imports

Imports into Republic of Korea

After two years of decline, supplies from abroad of cadmium and articles thereof increased by 29% to X tons in 2022. In general, imports posted a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 950%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cadmium imports surged to $X in 2022. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 2,751%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest cadmium supplier to South Korea, with a 83% share of total imports. Moreover, cadmium imports from Australia exceeded the figures recorded by the second-largest supplier, the United States (X kg), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia stood at -23.1%.

In value terms, Australia ($X) constituted the largest supplier of cadmium and articles thereof to South Korea, comprising 96% of total imports. The second position in the ranking was held by the United States ($X), with a 2.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia totaled -30.4%.

Import Prices by Country

The average cadmium import price stood at $X per ton in 2022, surging by 14% against the previous year. In general, the import price, however, saw a deep slump. The pace of growth appeared the most rapid in 2014 when the average import price increased by 465% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Australia ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (-9.4%).

Source: IndexBox Platform

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