Report Update Nov 1, 2024

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

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Republic of Korea: Lignite Market 2024

Lignite Market Size in Republic of Korea

For the third year in a row, the South Korean lignite market recorded decline in sales value, which decreased by -69.5% to $X in 2022. Overall, consumption continues to indicate a pronounced reduction. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Lignite Production in Republic of Korea

In value terms, lignite production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild shrinkage. The pace of growth was the most pronounced in 2015 when the production volume increased by 22% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Lignite Exports

Exports from Republic of Korea

In 2022, shipments abroad of lignites decreased by -45% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 970% against the previous year. The exports peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, lignite exports fell notably to $X in 2022. Over the period under review, exports showed a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 1,357% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for lignite exports from South Korea, accounting for a 79% share of total exports. Moreover, lignite exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at +55.6%.

In value terms, the largest markets for lignite exported from South Korea were Vietnam ($X) and China ($X).

Vietnam, with a CAGR of +55.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average lignite export price stood at $X per ton in 2022, picking up by 20% against the previous year. Over the period under review, the export price, however, showed a deep slump. The growth pace was the most rapid in 2015 an increase of 233%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-0.1%).

Lignite Imports

Imports into Republic of Korea

In 2022, approx. X tons of lignites were imported into South Korea; shrinking by -90.4% on 2021 figures. In general, imports continue to indicate a deep contraction. The growth pace was the most rapid in 2017 with an increase of 199%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, lignite imports surged to $X in 2022. Overall, imports, however, posted a prominent expansion. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Canada (X tons), China (X tons) and the United States (X tons) were the main suppliers of lignite imports to South Korea, together comprising 100% of total imports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +115.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of lignites to South Korea, comprising 70% of total imports. The second position in the ranking was taken by the United States ($X), with a 22% share of total imports. It was followed by China, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada stood at +172.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+99.7% per year) and China (+40.9% per year).

Import Prices by Country

In 2022, the average lignite import price amounted to $X per ton, jumping by 2,415% against the previous year. In general, the import price posted a significant increase. As a result, import price reached 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 Canada ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+26.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lignite in the world?

The countries with the highest volumes of in 2021 were Germany, China and Turkey, with a combined 43% share of global consumption. These countries were followed by Mongolia, the United States, Poland, India, Serbia, the Czech Republic, Bulgaria, Greece, Romania and Lao People's Democratic Republic, which together accounted for a further 46%.

What are the largest producers of lignite in the world?

The countries with the highest volumes of in 2021 were Germany, Indonesia and Turkey, together comprising 42% of global production. Mongolia, the United States, Poland, India, Serbia, the Czech Republic, Bulgaria, Greece, Romania and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 46%.

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

In value terms, Russia constituted the largest supplier of lignite to South Korea, comprising 70% of total imports. The second position in the ranking was occupied by Indonesia, with a 30% share of total imports.

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

In value terms, Vietnam $745) and China $657) constituted the largest markets for lignite exported from South Korea worldwide.

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

In 2021, the average lignite export price amounted to $659 per ton, standing approx. at the previous year.

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

In 2021, the average lignite import price amounted to $570 per ton, increasing by 4.5% against the previous year.

This report provides an in-depth analysis of the lignite 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:

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
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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
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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