Report Update Nov 1, 2024

Republic of Korea - Chromium Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Republic of Korea

The South Korean chromium ore and concentrate market shrank significantly to $X in 2022, with a decrease of -74.3% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2021, and then fell remarkably in the following year.

Production of Chromium Ores and Concentrates in Republic of Korea

In value terms, chromium ore and concentrate production reduced to $X in 2022 estimated in export price. In general, production, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 37% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Chromium Ores and Concentrates

Exports from Republic of Korea

In 2022, shipments abroad of chromium ores and concentrates was finally on the rise to reach X tons after two years of decline. Overall, exports saw a moderate expansion. The pace of growth was the most pronounced in 2019 with an increase of 471%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, chromium ore and concentrate exports surged to $X in 2022. In general, exports, however, saw a mild slump. The pace of growth was the most pronounced in 2019 when exports increased by 435% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

From 2012 to 2022, the average annual growth rate of volume to No country was relatively modest.

From 2012 to 2022, the average annual rate of growth in terms of value to No country was relatively modest.

Imports of Chromium Ores and Concentrates

Imports into Republic of Korea

In 2022, imports of chromium ores and concentrates into South Korea reduced dramatically to X tons, with a decrease of -80.3% on 2021. Over the period under review, imports, however, recorded a temperate increase. The growth pace was the most rapid in 2017 with an increase of 610% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted significantly in the following year.

In value terms, chromium ore and concentrate imports fell rapidly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 284%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Africa (X tons) constituted the largest chromium ore and concentrate supplier to South Korea, with a 90% share of total imports. Moreover, chromium ore and concentrate imports from South Africa exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was taken by Belgium (X tons), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa amounted to +71.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+53.1% per year) and Belgium (+75.8% per year).

In value terms, South Africa ($X) constituted the largest supplier of chromium ores and concentrates to South Korea, comprising 82% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by Belgium, with a 1.7% share.

From 2012 to 2022, the average annual growth rate of value from South Africa amounted to +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+32.6% per year) and Belgium (+44.0% per year).

Import Prices by Country

The average chromium ore and concentrate import price stood at $X per ton in 2022, increasing by 37% against the previous year. Over the period under review, the import price, however, saw a pronounced decline. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zimbabwe (+101.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for chromium ores and concentrates in the world?

China constituted the country with the largest volume of chromium ore and concentrate consumption, comprising approx. 37% of total volume. Moreover, chromium ore and concentrate consumption in China exceeded the figures recorded by the second-largest consumer, Kazakhstan, threefold. Turkey ranked third in terms of total consumption with an 11% share.

What are the largest producers of chromium ores and concentrates in the world?

The country with the largest volume of chromium ore and concentrate production was South Africa, accounting for 44% of total volume. Moreover, chromium ore and concentrate production in South Africa exceeded the figures recorded by the second-largest producer, Kazakhstan, threefold. Turkey ranked third in terms of total production with a 17% share.

What are the leading suppliers of chromium ores and concentrates to Republic of Korea?

In value terms, Pakistan constituted the largest supplier of chromium ore and concentrate to South Korea, comprising 92% of total imports. The second position in the ranking was occupied by Germany, with a 7.8% share of total imports.

What is the average export price for chromium ores and concentrates in Republic of Korea?

In 2021, the average chromium ore and concentrate export price amounted to $441 per ton, flattening at the previous year.

What is the average import price for chromium ores and concentrates in Republic of Korea?

The average chromium ore and concentrate import price stood at $208 per ton in 2021, waning by -5.7% against the previous year.

This report provides an in-depth analysis of the market for chromium ore and concentrate in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023