Republic of Korea: Calcareous Building Stone Market 2024

Calcareous Building Stone Market Size in Republic of Korea

The South Korean calcareous building stone market fell modestly to $X in 2021, which is down by -3.2% against the previous year. Overall, consumption showed a deep setback. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Calcareous Building Stone Production in Republic of Korea

In value terms, calcareous building stone production shrank slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by 15%. Calcareous building stone production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Calcareous Building Stone Exports

Exports from Republic of Korea

In 2021, exports of calcareous building stone from South Korea dropped sharply to X tons, with a decrease of -78.1% compared with the previous year. In general, exports saw a noticeable decline. The most prominent rate of growth was recorded in 2014 when exports increased by 6,589% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, calcareous building stone exports soared to $X in 2021. Overall, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 2,086%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for calcareous building stone exports from South Korea, with a 62% share of total exports. Moreover, calcareous building stone exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to China stood at -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+77.5% per year) and Mongolia (+1.4% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for calcareous building stone exports from South Korea, comprising 88% of total exports. The second position in the ranking was held by Mongolia ($X), with a 7.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to +128.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mongolia (-7.2% per year) and China (-14.5% per year).

Export Prices by Country

In 2021, the average calcareous building stone export price amounted to $X per ton, surging by 803% against the previous year. Over the period under review, the export price recorded a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($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 Vietnam (+28.6%), while the prices for the other major destinations experienced a decline.

Calcareous Building Stone Imports

Imports into Republic of Korea

In 2021, overseas purchases of calcareous building stone decreased by -19.1% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 354% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, calcareous building stone imports skyrocketed to $X in 2021. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2017 when imports increased by 402%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Pakistan (X tons) constituted the largest supplier of calcareous building stone to South Korea, with a 56% share of total imports. Moreover, calcareous building stone imports from Pakistan exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Italy (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume from Pakistan totaled +43.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+40.7% per year) and Italy (+39.0% per year).

In value terms, Pakistan ($X) constituted the largest supplier of calcareous building stone to South Korea, comprising 42% of total imports. The second position in the ranking was taken by Italy ($X), with an 18% share of total imports. It was followed by Portugal, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Pakistan stood at +40.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+29.9% per year) and Portugal (+47.1% per year).

Import Prices by Country

In 2021, the average calcareous building stone import price amounted to $X per ton, with an increase of 44% against the previous year. Overall, the import price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2020 an increase of 50%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+30.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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