Republic of Korea: Sulphite Wood Pulp Market 2024

Sulphite Wood Pulp Market Size in Republic of Korea

The South Korean sulphite wood pulp market rose remarkably to $X in 2021, increasing by 7.3% against the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Sulphite wood pulp consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Sulphite Wood Pulp Production in Republic of Korea

In value terms, sulphite wood pulp production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 43% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Sulphite Wood Pulp Exports

Exports from Republic of Korea

Sulphite wood pulp exports from South Korea skyrocketed to X tons in 2021, jumping by 17% on 2020. Overall, exports, however, recorded a dramatic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 75% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sulphite wood pulp exports rose markedly to $X in 2021. Over the period under review, exports, however, faced a dramatic decline. The growth pace was the most rapid in 2018 with an increase of 105% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Australia (X kg) was the main destination for sulphite wood pulp exports from South Korea, accounting for a 76% share of total exports. Moreover, sulphite wood pulp exports to Australia exceeded the volume sent to the second major destination, Thailand (X kg), fourfold. The third position in this ranking was held by Japan (X kg), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-55.3% per year) and Japan (0.0% per year).

In value terms, Australia ($X) emerged as the key foreign market for chemical wood pulp (sulphite, other than dissolving grades) exports from South Korea, comprising 74% of total exports. The second position in the ranking was taken by Thailand ($X), with a 22% share of total exports. It was followed by Malaysia, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-50.2% per year) and Malaysia (-63.8% per year).

Export Prices by Country

In 2021, the average sulphite wood pulp export price amounted to $X per ton, waning by -10.1% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sulphite wood pulp export price decreased by -21.5% against 2019 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 24%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Japan ($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 Thailand (+11.3%).

Sulphite Wood Pulp Imports

Imports into Republic of Korea

Sulphite wood pulp imports into South Korea soared to X tons in 2021, picking up by 161% against the year before. Overall, imports, however, continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 1,021% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sulphite wood pulp imports skyrocketed to $X in 2021. In general, imports posted a moderate increase. The growth pace was the most rapid in 2019 with an increase of 774%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest sulphite wood pulp supplier to South Korea, with a 80% share of total imports. Moreover, sulphite wood pulp imports from Germany exceeded the figures recorded by the second-largest supplier, Russia (X tons), tenfold. The third position in this ranking was held by Australia (X tons), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +25.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-16.4% per year) and Australia (+12.4% per year).

In value terms, Germany ($X) constituted the largest supplier of chemical wood pulp (sulphite, other than dissolving grades) to South Korea, comprising 83% of total imports. The second position in the ranking was taken by Japan ($X), with a 5.5% share of total imports. It was followed by Russia, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.2% per year) and Russia (-19.0% per year).

Import Prices by Country

The average sulphite wood pulp import price stood at $X per ton in 2021, approximately reflecting the previous year. In general, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sulphite wood pulp import price increased by +82.1% against 2015 indices. The pace of growth appeared the most rapid in 2020 an increase of 55% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+38.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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