Republic of Korea: Chalk Market 2022

Chalk Market Size in Republic of Korea

In 2021, the South Korean chalk market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, recorded a abrupt contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Chalk Production in Republic of Korea

In value terms, chalk production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2013 when the production volume increased by 22%. Chalk production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Chalk Exports

Exports from Republic of Korea

In 2021, overseas shipments of chalks decreased by -78.6% to X tons, falling for the fifth year in a row after two years of growth. Over the period under review, exports saw a significant contraction. The growth pace was the most rapid in 2016 with an increase of 11%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, chalk exports declined remarkably to $X in 2021. Overall, exports faced a sharp descent. The growth pace was the most rapid in 2014 with an increase of 58% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for chalk exports from South Korea, with a 51% share of total exports. Moreover, chalk exports to Japan exceeded the volume sent to the second major destination, Australia (X tons), threefold. Poland (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to -20.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-23.2% per year) and Poland (-27.9% per year).

In value terms, Japan ($X), Australia ($X) and Poland ($X) were the largest markets for chalk exported from South Korea worldwide, together comprising 72% of total exports. These countries were followed by Uzbekistan, Vietnam, Russia and Indonesia, which together accounted for a further 15%.

Among the main countries of destination, Russia, with a CAGR of +17.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average chalk export price stood at $X per ton in 2021, rising by 4.2% against the previous year. Overall, the export price, however, continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when the average export price increased by 69% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Vietnam ($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 Russia (+39.0%), while the prices for the other major destinations experienced more modest paces of growth.

Chalk Imports

Imports into Republic of Korea

In 2021, the amount of chalks imported into South Korea surged to X tons, rising by 58% compared with the previous year's figure. Over the period under review, imports saw significant growth. The growth pace was the most rapid in 2017 when imports increased by 921% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, chalk imports skyrocketed to $X in 2021. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 178% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) was the main supplier of chalk to South Korea, accounting for a 96% share of total imports. It was followed by France (X tons), with a 2.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +77.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+45.5% per year) and the UK (+8.2% per year).

In value terms, Germany ($X) constituted the largest supplier of chalk to South Korea, comprising 60% of total imports. The second position in the ranking was held by the UK ($X), with a 9.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +29.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+6.7% per year) and France (+32.1% per year).

Import Prices by Country

The average chalk import price stood at $X per ton in 2021, increasing by 3.1% against the previous year. In general, the import price, however, faced a precipitous shrinkage. The pace of growth was the most pronounced in 2015 an increase of 85%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+71.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform