Republic of Korea: Market for Ceramic Sinks, Baths, Water Closet Pans and Similar Sanitary Fixtures of Porcelain or China 2025

Market Size for Ceramic Sinks, Baths, Water Closet Pans and Similar Sanitary Fixtures of Porcelain or China in Republic of Korea

The South Korean market for ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china shrank slightly to $X in 2022, reducing by -2.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.3% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Exports of Ceramic Sinks, Baths, Water Closet Pans and Similar Sanitary Fixtures of Porcelain or China

Exports from Republic of Korea

In 2022, approx. X units of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china were exported from South Korea; growing by 6.4% compared with 2021. In general, exports saw tangible growth. The most prominent rate of growth was recorded in 2014 with an increase of 73% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china totaled $X in 2022. Over the period under review, exports enjoyed measured growth. The pace of growth appeared the most rapid in 2020 when exports increased by 44%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for exports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china from South Korea, accounting for a 52% share of total exports. Moreover, exports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china to the United States exceeded the volume sent to the second major destination, Morocco (X units), sixfold. The third position in this ranking was taken by Thailand (X units), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +60.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+74.0% per year) and Thailand (+14.2% per year).

In value terms, Vietnam ($X), the United States ($X) and Morocco ($X) were the largest markets for ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china exported from South Korea worldwide, with a combined 28% share of total exports.

Morocco, with a CAGR of +61.3%, 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

The average export price for ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china stood at $X per unit in 2022, picking up by 2.5% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 28%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+59.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Ceramic Sinks, Baths, Water Closet Pans and Similar Sanitary Fixtures of Porcelain or China

Imports into Republic of Korea

In 2022, the amount of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china imported into South Korea reduced to X units, almost unchanged from the year before. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 106% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china contracted modestly to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +2.7% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 39% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china supplier to South Korea, with a 89% share of total imports. Moreover, imports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), ninefold.

From 2012 to 2022, the average annual growth rate of volume from China stood at -1.6%.

In value terms, China ($X) constituted the largest supplier of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china to South Korea, comprising 97% of total imports. The second position in the ranking was held by Vietnam ($X), with a 1.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +5.7%.

Import Prices by Country

In 2022, the average import price for ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china amounted to $X per unit, flattening at the previous year. Overall, the import price, however, recorded prominent growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 88% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Vietnam totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.4%).

Source: IndexBox Platform