Republic of Korea: Ceramic Sanitary Ware Market 2024

Ceramic Sanitary Ware Market Size in Republic of Korea

In 2022, the South Korean ceramic sanitary ware market was finally on the rise to reach $X after five years of decline. In general, consumption, however, saw a abrupt contraction. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Ceramic Sanitary Ware Production in Republic of Korea

In value terms, ceramic sanitary ware production stood at less than $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern.

Ceramic Sanitary Ware Exports

Exports from Republic of Korea

In 2022, exports of ceramic sinks, baths, water closet pans and similar sanitary fixtures from South Korea contracted remarkably to X units, with a decrease of -38.2% compared with 2021. Overall, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2017 when exports increased by 1,202% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, ceramic sanitary ware exports declined rapidly to $X in 2022. In general, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2017 with an increase of 1,028% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Myanmar (X units), the United States (X units) and Morocco (X units) were the main destinations of ceramic sanitary ware exports from South Korea.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +81.6%), while the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X) emerged as the key foreign market for ceramic sinks, baths, water closet pans and similar sanitary fixtures exports from South Korea, comprising 102% of total exports. The second position in the ranking was held by Vietnam ($X), with a 35% share of total exports. It was followed by the United States, with a 32% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar amounted to +67.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+26.8% per year) and the United States (+33.4% per year).

Export Prices by Country

In 2022, the average ceramic sanitary ware export price amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 15%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 (+48.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ceramic Sanitary Ware Imports

Imports into Republic of Korea

Ceramic sanitary ware imports into South Korea expanded modestly to X units in 2022, surging by 2.1% on the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 118% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, ceramic sanitary ware imports expanded remarkably to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 60% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of ceramic sanitary ware to South Korea, accounting for a 4,031% share of total imports. Moreover, ceramic sanitary ware imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -1.4%.

In value terms, China ($X) constituted the largest supplier of ceramic sinks, baths, water closet pans and similar sanitary fixtures to South Korea, comprising 6,233% of total imports. The second position in the ranking was held by Vietnam ($X), with a 123% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +5.7%.

Import Prices by Country

The average ceramic sanitary ware import price stood at $X per unit in 2022, rising by 6.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 31% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 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 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 (+7.3%).

Source: IndexBox Platform

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