Republic of Korea: Market for Chemical Wood Pulp (Soda And Sulphate, Other Than Dissolving Grades) 2024

Market Size for Chemical Wood Pulp (Soda And Sulphate, Other Than Dissolving Grades) in Republic of Korea

The South Korean market for chemical wood pulp (soda and sulphate, other than dissolving grades) skyrocketed to $X in 2021, with an increase of 16% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Consumption of peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Chemical Wood Pulp (Soda And Sulphate, Other Than Dissolving Grades) in Republic of Korea

In value terms, production of chemical wood pulp (soda and sulphate, other than dissolving grades) rose sharply to $X in 2021 estimated in export price. Overall, production saw a pronounced shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 24%. As a result, production attained the peak level of $X. From 2019 to 2021, production of growth remained at a somewhat lower figure.

Exports of Chemical Wood Pulp (Soda And Sulphate, Other Than Dissolving Grades)

Exports from Republic of Korea

In 2021, overseas shipments of chemical wood pulp (soda and sulphate, other than dissolving grades) decreased by -20.8% to X tons for the first time since 2015, thus ending a five-year rising trend. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 425%. The exports peaked at X tons in 2020, and then contracted rapidly in the following year.

In value terms, exports of chemical wood pulp (soda and sulphate, other than dissolving grades) expanded notably to $X in 2021. Overall, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by 435%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons), Japan (X tons) and Pakistan (X tons) were the main destinations of exports of chemical wood pulp (soda and sulphate, other than dissolving grades) from South Korea, with a combined 88% share of total exports. These countries were followed by Vietnam and Thailand, which together accounted for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +227.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soda and sulphate chemical wood pulp exported from South Korea were China ($X), Japan ($X) and Thailand ($X), together comprising 87% of total exports.

Thailand, with a CAGR of +140.3%, saw the highest rates of growth with regard to the value of exports, among 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 chemical wood pulp (soda and sulphate, other than dissolving grades) stood at $X per ton in 2021, with an increase of 42% against the previous year. Overall, the export price, however, saw a slight decline. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, the highest price was recorded for prices to Japan ($X per ton) and Thailand ($X per ton), while the average price for exports to Pakistan ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Chemical Wood Pulp (Soda And Sulphate, Other Than Dissolving Grades)

Imports into Republic of Korea

In 2021, imports of chemical wood pulp (soda and sulphate, other than dissolving grades) into South Korea rose slightly to X tons, surging by 5% compared with the year before. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 11%. Over the period under review, imports of reached the maximum at X tons in 2012; afterwards, it flattened through to 2021.

In value terms, imports of chemical wood pulp (soda and sulphate, other than dissolving grades) soared to $X in 2021. Overall, imports, however, continue to indicate a mild descent. Over the period under review, imports of reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Brazil (X tons), Indonesia (X tons) and Chile (X tons) were the main suppliers of imports of chemical wood pulp (soda and sulphate, other than dissolving grades) to South Korea, with a combined 51% share of total imports. Uruguay, Canada, the United States, Russia and New Zealand lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uruguay (with a CAGR of +59.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Indonesia ($X) and Chile ($X) were the largest soda and sulphate chemical wood pulp suppliers to South Korea, together comprising 48% of total imports. These countries were followed by Uruguay, Canada, the United States, Russia and New Zealand, which together accounted for a further 42%.

Among the main suppliers, Uruguay, with a CAGR of +57.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for chemical wood pulp (soda and sulphate, other than dissolving grades) amounted to $X per ton, increasing by 15% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were New Zealand ($X per ton) and Canada ($X per ton), while the price for Indonesia ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+0.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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