Report Update Nov 1, 2024

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

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Republic of Korea: Lithium Oxide Market 2024

Lithium Oxide Market Size in Republic of Korea

The South Korean lithium oxide market soared to $X in 2021, with an increase of 39% 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). Over the period under review, consumption saw a significant expansion. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Lithium Oxide Exports

Exports from Republic of Korea

In 2021, overseas shipments of lithium oxides were finally on the rise to reach X tons after three years of decline. Over the period under review, exports showed a strong expansion. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, lithium oxide exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for lithium oxide exports from South Korea, accounting for a 73% share of total exports. Moreover, lithium oxide exports to Russia exceeded the volume sent to the second major destination, China (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Russia stood at +11,542.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-5.1% per year) and Belgium (-58.3% per year).

In value terms, Russia ($X) emerged as the key foreign market for lithium oxides exports from South Korea, comprising 72% of total exports. The second position in the ranking was held by China ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Russia stood at +16,699.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+13.0% per year) and Belgium (-49.2% per year).

Export Prices by Country

The average lithium oxide export price stood at $X per ton in 2021, growing by 38% against the previous year. Over the period under review, the export price posted a prominent increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 101%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Belgium ($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 Russia (+43.9%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium Oxide Imports

Imports into Republic of Korea

Lithium oxide imports into South Korea skyrocketed to X tons in 2021, picking up by 52% on the previous year. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 126% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, lithium oxide imports surged to $X in 2021. Overall, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 191%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest lithium oxide supplier to South Korea, accounting for a 81% share of total imports. Moreover, lithium oxide imports from China exceeded the figures recorded by the second-largest supplier, Chile (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +66.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+35.2% per year) and Russia (+52.3% per year).

In value terms, China ($X) constituted the largest supplier of lithium oxides to South Korea, comprising 84% of total imports. The second position in the ranking was taken by Chile ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +65.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+39.9% per year) and Russia (+60.6% per year).

Import Prices by Country

In 2021, the average lithium oxide import price amounted to $X per ton, reducing by -11.4% against the previous year. In general, the import price, however, showed a moderate expansion. The growth pace was the most rapid in 2016 when the average import price increased by 51%. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+5.4%), 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 lithium oxide in the world?

The countries with the highest volumes of lithium oxide consumption in 2020 were Australia, South Korea and Japan, together comprising 80% of global consumption.

What are the largest producers of lithium oxide in the world?

The countries with the highest volumes of lithium oxide production in 2020 were China, Australia and Chile, together accounting for 78% of global production. These countries were followed by the United States, Russia, Germany and Switzerland, which together accounted for a further 17%.

What are the leading suppliers of lithium oxide to Republic of Korea?

In value terms, China constituted the largest supplier of lithium oxide to South Korea, comprising 81% of total imports. The second position in the ranking was occupied by Chile, with a 14% share of total imports.

What are the leading importers of lithium oxide from Republic of Korea?

In value terms, China emerged as the key foreign market for lithium oxide exports from South Korea, comprising 60% of total exports. The second position in the ranking was occupied by Japan, with a 28% share of total exports. It was followed by Russia, with a 7.1% share.

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

The average lithium oxide export price stood at $11,998 per ton in 2020, shrinking by -43.7% against the previous year.

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

In 2020, the average lithium oxide import price amounted to $12,152 per ton, with a decrease of -26% against the previous year.

This report provides an in-depth analysis of the lithium oxide 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
Find deeper insights into current market developments
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
How to outsource production to other countries
How to prepare your business for global expansion

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