Republic of Korea: Complex Fluorine Salts Market 2024

Complex Fluorine Salts Market Size in Republic of Korea

The South Korean complex fluorine salts market soared to $X in 2021, growing by 40% against the previous year. Overall, consumption posted a buoyant expansion. Complex fluorine salts consumption peaked in 2021 and is likely to continue growth in the near future.

Complex Fluorine Salts Production in Republic of Korea

In value terms, complex fluorine salts production contracted rapidly to $X in 2021 estimated in export price. Overall, production, however, saw a significant increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 282%. Complex fluorine salts production peaked at $X in 2020, and then shrank dramatically in the following year.

Complex Fluorine Salts Exports

Exports from Republic of Korea

In 2021, overseas shipments of fluorides, fluorosilicates, fluoroaluminates and other complex fluorine salts increased by 24% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded a strong increase. The pace of growth was the most pronounced in 2015 with an increase of 73%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, complex fluorine salts exports surged to $X in 2021. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for complex fluorine salts exports from South Korea, accounting for a 83% share of total exports. Moreover, complex fluorine salts exports to China exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold. The United States (X tons) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+12.2% per year) and the United States (+4.3% per year).

In value terms, China ($X) remains the key foreign market for fluorides, fluorosilicates, fluoroaluminates and other complex fluorine salts exports from South Korea, comprising 67% of total exports. The second position in the ranking was taken by the United States ($X), with a 6.1% share of total exports. It was followed by Taiwan (Chinese), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +36.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.3% per year) and Taiwan (Chinese) (+8.3% per year).

Export Prices by Country

The average complex fluorine salts export price stood at $X per ton in 2021, picking up by 58% against the previous year. In general, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, complex fluorine salts export price increased by +70.0% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Saudi Arabia ($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 China (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Complex Fluorine Salts Imports

Imports into Republic of Korea

In 2021, the amount of fluorides, fluorosilicates, fluoroaluminates and other complex fluorine salts imported into South Korea skyrocketed to X tons, jumping by 53% compared with 2020 figures. The total import volume increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, complex fluorine salts imports surged to $X in 2021. Over the period under review, imports saw a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of complex fluorine salts imports to South Korea, with a combined 92% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +18.3%), while purchases for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of fluorides, fluorosilicates, fluoroaluminates and other complex fluorine salts to South Korea, comprising 71% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +41.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.4% per year) and the United States (+5.5% per year).

Import Prices by Country

The average complex fluorine salts import price stood at $X per ton in 2021, rising by 33% against the previous year. In general, the import price saw a resilient expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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