Republic of Korea: Kaolin Market 2024

Kaolin Market Size in Republic of Korea

The South Korean kaolin market soared to $X in 2021, with an increase of 19% against the previous year. Over the period under review, consumption, however, saw a perceptible shrinkage. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Kaolin Production in Republic of Korea

In value terms, kaolin production surged to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced descent. The pace of growth appeared the most rapid in 2013 with an increase of 40% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Kaolin Exports

Exports from Republic of Korea

In 2021, exports of kaolin and kaolinic clays from South Korea soared to X tons, jumping by 16% against 2020 figures. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 101%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, kaolin exports expanded rapidly to $X in 2021. In general, exports saw a mild expansion. The pace of growth was the most pronounced in 2018 with an increase of 102% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for kaolin exports from South Korea, accounting for a 63% share of total exports. Moreover, kaolin exports to Japan exceeded the volume sent to the second major destination, China (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-5.7% per year) and Vietnam (+60.2% per year).

In value terms, Japan ($X), China ($X) and Vietnam ($X) were the largest markets for kaolin exported from South Korea worldwide, with a combined 80% share of total exports.

Vietnam, with a CAGR of +59.9%, 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

The average kaolin export price stood at $X per ton in 2021, dropping by -2.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2013 an increase of 32%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Japan ($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 Indonesia (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Kaolin Imports

Imports into Republic of Korea

In 2021, the amount of kaolin and kaolinic clays imported into South Korea rose notably to X tons, surging by 13% compared with the year before. Overall, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, kaolin imports soared to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and India (X tons) were the main suppliers of kaolin imports to South Korea, together comprising 89% of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +20.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of kaolin and kaolinic clays to South Korea, comprising 61% of total imports. The second position in the ranking was taken by China ($X), with a 25% share of total imports. It was followed by Brazil, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.5% per year) and Brazil (-3.3% per year).

Import Prices by Country

In 2021, the average kaolin import price amounted to $X per ton, increasing by 3.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 19% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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