Report Update Nov 1, 2024

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

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Republic of Korea: Lithium Carbonate Market 2024

Lithium Carbonate Market Size in Republic of Korea

The South Korean lithium carbonate market surged to $X in 2021, rising by 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a resilient increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Lithium Carbonate Exports

Exports from Republic of Korea

In 2021, shipments abroad of lithium carbonates increased by 142% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 420%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, lithium carbonate exports surged to $X in 2021. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 533%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons) was the main destination for lithium carbonate exports from South Korea, with a 67% share of total exports. Moreover, lithium carbonate exports to China exceeded the volume sent to the second major destination, Russia (X tons), sixfold. The third position in this ranking was held by Japan (X tons), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+33.0% per year) and Japan (+8.6% per year).

In value terms, China ($X) remains the key foreign market for lithium carbonates exports from South Korea, comprising 71% of total exports. The second position in the ranking was held by Japan ($X), with an 8.7% share of total exports. It was followed by Russia, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +50.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+21.6% per year) and Russia (+27.2% per year).

Export Prices by Country

In 2021, the average lithium carbonate export price amounted to $X per ton, reducing by -2.1% against the previous year. Overall, the export price, however, posted buoyant growth. The pace of growth was the most pronounced in 2015 an increase of 62%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Vietnam ($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 Japan (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium Carbonate Imports

Imports into Republic of Korea

In 2021, approx. X tons of lithium carbonates were imported into South Korea; picking up by 32% against 2020 figures. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 60% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, lithium carbonate imports surged to $X in 2021. In general, imports enjoyed a significant increase. The growth pace was the most rapid in 2018 with an increase of 85% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Chile (X tons) was the main lithium carbonate supplier to South Korea, accounting for a 95% share of total imports. Moreover, lithium carbonate imports from Chile exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Chile amounted to +12.8%.

In value terms, Chile ($X) constituted the largest supplier of lithium carbonates to South Korea, comprising 94% of total imports. The second position in the ranking was held by Argentina ($X), with a 5.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile stood at +21.1%.

Import Prices by Country

In 2021, the average lithium carbonate import price amounted to $X per ton, waning by -7% against the previous year. Over the period under review, the import price, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 when the average import price increased by 49% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Chile totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+7.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lithium oxide, hydroxide and carbonate in the world?

China remains the largest lithium oxide, hydroxide and carbonate consuming country worldwide, accounting for 34% of total volume. Moreover, lithium oxide, hydroxide and carbonate consumption in China exceeded the figures recorded by the second-largest consumer, Chile, twofold. The third position in this ranking was occupied by Japan, with a 12% share.

What are the largest producers of lithium oxide, hydroxide and carbonate in the world?

The countries with the highest volumes of in 2021 were China, Chile and Australia, together comprising 80% of global production. These countries were followed by Argentina, the United States, the Netherlands and Russia, which together accounted for a further 17%.

What are the leading suppliers of lithium oxide, hydroxide and carbonate to Republic of Korea?

In value terms, the largest lithium oxide, hydroxide and carbonate suppliers to South Korea were Chile, China and Argentina, together comprising 98% of total imports.

What are the leading importers of lithium oxide, hydroxide and carbonate from Republic of Korea?

In value terms, China remains the key foreign market for lithium oxide, hydroxide and carbonate exports from South Korea, comprising 71% of total exports. The second position in the ranking was occupied by Japan, with a 13% share of total exports. It was followed by Malaysia, with a 12% share.

What is the average export price for lithium oxide, hydroxide and carbonate in Republic of Korea?

In 2021, the average export price for lithium oxide, hydroxide and carbonates amounted to $13,237 per ton, with an increase of 5.5% against the previous year.

What is the average import price for lithium oxide, hydroxide and carbonate in Republic of Korea?

In 2021, the average import price for lithium oxide, hydroxide and carbonates amounted to $12,933 per ton, with an increase of 12% against the previous year.

This report provides an in-depth analysis of the lithium carbonate 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:

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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
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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