Report Update Nov 1, 2024

Republic of Korea - Fireworks - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Fireworks Market 2024

Fireworks Market Size in Republic of Korea

In 2022, the South Korean fireworks market increased by X% to $X, rising for the second year in a row after three years of decline. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Fireworks Exports

Exports from Republic of Korea

In 2022, overseas shipments of fireworks decreased by X% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports saw a drastic downturn. The growth pace was the most rapid in 2016 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fireworks exports dropped slightly to $X in 2022. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for fireworks exports from South Korea, with a X% share of total exports. Moreover, fireworks exports to Malaysia exceeded the volume sent to the second major destination, Macao SAR (X kg), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and Japan (X% per year).

In value terms, the largest markets for fireworks exported from South Korea were Macao SAR ($X), Japan ($X) and Malaysia ($X).

In terms of the main countries of destination, Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average fireworks export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price, however, recorded a slight increase. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

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 Japan ($X per ton), while the average price for exports to Malaysia ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fireworks Imports

Imports into Republic of Korea

In 2022, purchases abroad of fireworks increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, fireworks imports expanded significantly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of fireworks to South Korea, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%.

In value terms, China ($X) constituted the largest supplier of fireworks to South Korea.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%.

Import Prices by Country

The average fireworks import price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fireworks in the world?

The United States remains the largest fireworks consuming country worldwide, comprising approx. 38% of total volume. Moreover, fireworks consumption in the United States exceeded the figures recorded by the second-largest consumer, China, twofold. India ranked third in terms of total consumption with a 6.3% share.

What are the largest producers of fireworks in the world?

China remains the largest fireworks producing country worldwide, accounting for 74% of total volume. Moreover, fireworks production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. The third position in this ranking was occupied by Pakistan, with a 2.7% share.

What are the leading suppliers of fireworks to Republic of Korea?

In value terms, China constituted the largest supplier of fireworks to South Korea.

What are the leading importers of fireworks from Republic of Korea?

In value terms, Japan remains the key foreign market for fireworks exports from South Korea, comprising 60% of total exports. The second position in the ranking was occupied by Macao SAR, with a 25% share of total exports.

What is the average export price for fireworks in Republic of Korea?

In 2021, the average fireworks export price amounted to $17,387 per ton, leveling off at the previous year.

What is the average import price for fireworks in Republic of Korea?

In 2021, the average fireworks import price amounted to $3,301 per ton, reducing by -9% against the previous year.

This report provides an in-depth analysis of the fireworks market 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:

Prodcom 20511300 - Fireworks

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