Republic of Korea: Ceramic Tile Market 2024

Ceramic Tile Exports

Exports from Republic of Korea

Ceramic tile exports from South Korea expanded notably to X square meters in 2022, surging by 7.4% against the year before. Over the period under review, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 127% against the previous year. The exports peaked at X square meters in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, ceramic tile exports contracted slightly to $X in 2022. In general, exports showed strong growth. The growth pace was the most rapid in 2013 when exports increased by 145% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X square meters) was the main destination for ceramic tile exports from South Korea, with a 40% share of total exports. Moreover, ceramic tile exports to the United States exceeded the volume sent to the second major destination, Australia (X square meters), threefold. The third position in this ranking was held by Kazakhstan (X square meters), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +43.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+31.2% per year) and Kazakhstan (+9.1% per year).

In value terms, the United States ($X) remains the key foreign market for ceramic tiles exports from South Korea, comprising 47% of total exports. The second position in the ranking was taken by Australia ($X), with a 13% share of total exports. It was followed by Japan, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +43.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+73.3% per year) and Japan (+31.9% per year).

Export Prices by Country

In 2022, the average ceramic tile export price amounted to $X per square meter, declining by -8% against the previous year. Over the period under review, the export price recorded a perceptible slump. The growth pace was the most rapid in 2018 when the average export price increased by 38%. Over the period under review, the average export prices hit record highs at $X per square meter in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Singapore ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+32.1%), while the prices for the other major destinations experienced mixed trend patterns.

Ceramic Tile Imports

Imports into Republic of Korea

In 2022, after two years of growth, there was significant decline in supplies from abroad of ceramic tiles, when their volume decreased by -9.1% to X square meters. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% 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 +2.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of X square meters, and then declined in the following year.

In value terms, ceramic tile imports declined to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +16.0% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 22% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, China (X square meters) constituted the largest ceramic tile supplier to South Korea, accounting for a 59% share of total imports. Moreover, ceramic tile imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X square meters), fivefold. Italy (X square meters) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+27.6% per year) and Italy (+23.9% per year).

In value terms, China ($X) constituted the largest supplier of ceramic tiles to South Korea, comprising 48% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports. It was followed by Spain, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+16.9% per year) and Spain (+9.7% per year).

Import Prices by Country

The average ceramic tile import price stood at $X per square meter in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 14% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per square meter), while the price for Vietnam ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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