Republic of Korea: Colour Lake Market 2025

Colour Lake Market Size in Republic of Korea

The South Korean colour lake market was estimated at $X in 2021, with an increase of 1.7% against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +84.4% against 2015 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in years to come.

Colour Lake Production in Republic of Korea

In value terms, colour lake production rose slightly to $X in 2021 estimated in export price. In general, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 35%. Colour lake production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Colour Lake Exports

Exports from Republic of Korea

In 2021, the amount of colour lakes, preparations based on colour lakes exported from South Korea shrank remarkably to X tons, with a decrease of -29.9% on 2020 figures. Overall, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 489% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, colour lake exports reduced sharply to $X in 2021. Over the period under review, exports continue to indicate a slight curtailment. The pace of growth was the most pronounced in 2017 when exports increased by 300%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Finland (X tons) and Lebanon (X tons) were the main destinations of colour lake exports from South Korea, together accounting for 49% of total exports. These countries were followed by Indonesia, Belgium, China, Japan, South Africa, Botswana, Thailand, Syrian Arab Republic and Singapore, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Botswana (with a CAGR of +89.0%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Belgium ($X) were the largest markets for colour lake exported from South Korea worldwide, together accounting for 38% of total exports. These countries were followed by Japan, Thailand, Lebanon, South Africa, China, Singapore, Botswana, Syrian Arab Republic and Finland, which together accounted for a further 28%.

Among the main countries of destination, Botswana, with a CAGR of +123.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average colour lake export price amounted to $X per ton, jumping by 16% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 78%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Finland ($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 Botswana (+18.0%), while the prices for the other major destinations experienced mixed trend patterns.

Colour Lake Imports

Imports into Republic of Korea

In 2021, approx. X tons of colour lakes, preparations based on colour lakes were imported into South Korea; growing by 4.6% on the previous year's figure. In general, imports, however, showed a dramatic contraction. The pace of growth was the most pronounced in 2019 when imports increased by 66% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, colour lake imports rose markedly to $X in 2021. Overall, imports, however, saw a sharp decline. The most prominent rate of growth was recorded in 2016 when imports increased by 49%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Peru (X tons) were the main suppliers of colour lake imports to South Korea, together comprising 54% of total imports. These countries were followed by Japan, the Netherlands, Taiwan (Chinese), Brazil and France, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +13.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of colour lakes, preparations based on colour lakes to South Korea, comprising 38% of total imports. The second position in the ranking was taken by Peru ($X), with a 16% share of total imports. It was followed by Japan, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+4.6% per year) and Japan (-15.2% per year).

Import Prices by Country

The average colour lake import price stood at $X per ton in 2021, rising by 9.5% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, colour lake import price increased by +34.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 29% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Peru ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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