Republic of Korea: Gypsum And Anhydrite Market 2024

Gypsum And Anhydrite Market Size in Republic of Korea

In 2021, the South Korean gypsum and anhydrite market increased by 13% to $X, rising for the third consecutive year after four years of decline. Over the period under review, consumption showed a abrupt descent. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Gypsum And Anhydrite Production in Republic of Korea

In value terms, gypsum and anhydrite production amounted to less than $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with a decrease of 99.9% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Gypsum And Anhydrite Exports

Exports from Republic of Korea

In 2021, shipments abroad of gypsum and anhydrite increased by 33% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 288% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, gypsum and anhydrite exports skyrocketed to $X in 2021. In general, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 266%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons) was the main destination for gypsum and anhydrite exports from South Korea, with a 82% share of total exports. Moreover, gypsum and anhydrite exports to the Philippines exceeded the volume sent to the second major destination, Australia (X tons), sixfold. Japan (X tons) ranked third in terms of total exports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume to the Philippines stood at +80.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+184.1% per year) and Japan (+13.6% per year).

In value terms, the Philippines ($X) remains the key foreign market for gypsum and anhydrite exports from South Korea, comprising 95% of total exports. The second position in the ranking was held by Japan ($X), with a 3.5% share of total exports. It was followed by Australia, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value to the Philippines totaled +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-13.7% per year) and Australia (+35.5% per year).

Export Prices by Country

In 2021, the average gypsum and anhydrite export price amounted to $X per ton, falling by -8% against the previous year. In general, the export price continues to indicate a precipitous shrinkage. The pace of growth appeared the most rapid in 2019 when the average export price increased by 8.3% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to Australia ($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 Vietnam (+51.0%), while the prices for the other major destinations experienced a decline.

Gypsum And Anhydrite Imports

Imports into Republic of Korea

In 2021, supplies from abroad of gypsum and anhydrite decreased by -25.2% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 60%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, gypsum and anhydrite imports contracted to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 50%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of gypsum and anhydrite to South Korea, with a 85% share of total imports. Moreover, gypsum and anhydrite imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.7% per year) and Morocco (+8.9% per year).

In value terms, Thailand ($X) constituted the largest supplier of gypsum and anhydrite to South Korea, comprising 65% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.2% per year) and Morocco (+2.3% per year).

Import Prices by Country

In 2021, the average gypsum and anhydrite import price amounted to $X per ton, picking up by 30% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Thailand ($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 (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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