Republic of Korea: Calcium Carbonate Market 2024

Calcium Carbonate Market Size in Republic of Korea

For the third consecutive year, the South Korean calcium carbonate market recorded growth in sales value, which increased by 139% to $X in 2021. In general, consumption recorded significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Calcium Carbonate Exports

Exports from Republic of Korea

In 2021, approx. X tons of calcium carbonate were exported from South Korea; waning by -52.9% against 2020. Overall, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by 465%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, calcium carbonate exports fell markedly to $X in 2021. In general, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2018 when exports increased by 364% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for calcium carbonate exports from South Korea, with a 43% share of total exports. Moreover, calcium carbonate exports to Indonesia exceeded the volume sent to the second major destination, China (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia totaled +42.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-25.1% per year) and Vietnam (-11.4% per year).

In value terms, the largest markets for calcium carbonate exported from South Korea were Indonesia ($X), Vietnam ($X) and Mexico ($X), together comprising 65% of total exports.

Among the main countries of destination, Mexico, with a CAGR of +39.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average calcium carbonate export price amounted to $X per ton, surging by 19% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, 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 India (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Calcium Carbonate Imports

Imports into Republic of Korea

In 2021, calcium carbonate imports into South Korea skyrocketed to X tons, rising by 36% against the year before. Overall, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 89%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, calcium carbonate imports surged to $X in 2021. In general, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest calcium carbonate supplier to South Korea, accounting for a 43% share of total imports. Moreover, calcium carbonate imports from Japan exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. The UK (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual growth rate of volume from Japan amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+21.6% per year) and the UK (+15.4% per year).

In value terms, Japan ($X) constituted the largest supplier of calcium carbonate to South Korea, comprising 55% of total imports. The second position in the ranking was held by the UK ($X), with a 12% share of total imports. It was followed by China, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+18.4% per year) and China (+28.8% per year).

Import Prices by Country

In 2021, the average calcium carbonate import price amounted to $X per ton, growing by 48% against the previous year. In general, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, calcium carbonate import price increased by +86.8% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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