Republic of Korea: Lead Market 2024

Lead Market Size in Republic of Korea

The South Korean lead market declined to $X in 2022, dropping by -9.5% against the previous year. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Lead consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Lead Production in Republic of Korea

In value terms, lead production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 45%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Lead Exports

Exports from Republic of Korea

In 2022, shipments abroad of lead increased by 11% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 49%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, lead exports rose rapidly to $X in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +21.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 51%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Vietnam (X tons) and India (X tons) were the main destinations of lead exports from South Korea, with a combined 85% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +73.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lead exported from South Korea were the United States ($X), Vietnam ($X) and India ($X), with a combined 85% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +74.0%, 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

The average lead export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 23%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($X per ton) and Thailand ($X per ton), while the average price for exports to Malaysia ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lead Imports

Imports into Republic of Korea

After two years of growth, purchases abroad of lead decreased by -7.1% to X tons in 2022. The total import volume increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 44% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, lead imports fell slightly to $X in 2022. In general, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.8% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 55%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of lead to South Korea, with a 69% share of total imports. Moreover, lead imports from India exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+11.8% per year) and the United Arab Emirates (+26.3% per year).

In value terms, India ($X) constituted the largest supplier of lead to South Korea, comprising 70% of total imports. The second position in the ranking was held by Japan ($X), with a 4.7% share of total imports. It was followed by the United Arab Emirates, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+11.8% per year) and the United Arab Emirates (+30.2% per year).

Import Prices by Country

The average lead import price stood at $X per ton in 2022, increasing by 6.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2017 when the average import price increased by 27% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Mexico ($X per ton) and India ($X per ton), while the price for Japan ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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