Republic of Korea: Market for Coal Other Than Lingite 2024

Market Size for Coal Other Than Lingite in Republic of Korea

In 2022, the South Korean coal other than lingite market increased by 78% to $X, rising for the second consecutive year after two years of decline. Overall, consumption continues to indicate strong growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Coal Other Than Lingite in Republic of Korea

In value terms, coal other than lingite production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, showed prominent growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 250%. Coal other than lingite production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Coal Other Than Lingite

Exports from Republic of Korea

In 2022, the amount of coal other than lingites exported from South Korea declined significantly to X tons, reducing by -17.9% compared with 2021 figures. Overall, exports showed a dramatic shrinkage. The growth pace was the most rapid in 2017 when exports increased by 4,687%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, coal other than lingite exports soared to $X in 2022. Over the period under review, exports recorded a precipitous setback. The growth pace was the most rapid in 2017 with an increase of 1,575%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X tons), Myanmar (X tons) and Malaysia (X tons) were the main destinations of coal other than lingite exports from South Korea, together accounting for 74% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +46.5%), while the other leaders experienced mixed trend patterns.

In value terms, the Philippines ($X), Indonesia ($X) and Malaysia ($X) appeared to be the largest markets for coal other than lingite exported from South Korea worldwide, together accounting for 69% of total exports. Myanmar, the Czech Republic and Vietnam lagged somewhat behind, together comprising a further 28%.

Myanmar, with a CAGR of +72.8%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the average coal other than lingite export price amounted to $X per ton, jumping by 45% against the previous year. Overall, the export price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2019 an increase of 151% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Coal Other Than Lingite

Imports into Republic of Korea

In 2022, purchases abroad of coal other than lingites increased by 52% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, coal other than lingite imports surged to $X in 2022. Overall, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Australia (X tons) constituted the largest coal other than lingite supplier to South Korea, accounting for a 50% share of total imports. Moreover, coal other than lingite imports from Australia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. The third position in this ranking was held by Russia (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Australia amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-3.5% per year) and Russia (+7.6% per year).

In value terms, Australia ($X) constituted the largest supplier of coal other than lingites to South Korea, comprising 44% of total imports. The second position in the ranking was taken by Russia ($X), with a 20% share of total imports. It was followed by Indonesia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Australia stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+13.5% per year) and Indonesia (+0.7% per year).

Import Prices by Country

The average coal other than lingite import price stood at $X per ton in 2022, with an increase of 28% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, coal other than lingite import price increased by +92.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 51% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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