Republic of Korea: Mechanical Wood Pulp Market 2025

Mechanical Wood Pulp Market Size in Republic of Korea

The South Korean mechanical wood pulp market rose rapidly to $X in 2022, growing by 5.1% against the previous year. Over the period under review, consumption showed a deep setback. Mechanical wood pulp consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Mechanical Wood Pulp Production in Republic of Korea

In value terms, mechanical wood pulp production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt decrease. The growth pace was the most rapid in 2020 when the production volume increased by 98%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Mechanical Wood Pulp Exports

Exports from Republic of Korea

For the third consecutive year, South Korea recorded decline in overseas shipments of mechanical wood pulp, which decreased by -99.7% to X kg in 2022. Overall, exports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 1,156%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, mechanical wood pulp exports reduced rapidly to $X in 2022. Over the period under review, exports faced a dramatic downturn. The growth pace was the most rapid in 2017 with an increase of 457%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg) was the main destination for mechanical wood pulp exports from South Korea, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +8.0%.

In value terms, the United States ($X) emerged as the key foreign market for mechanical wood pulp exports from South Korea.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +16.7%.

Export Prices by Country

In 2022, the average mechanical wood pulp export price amounted to $X per ton, rising by 406% against the previous year. Over the period under review, the export price continues to indicate a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +30.2% per year.

Mechanical Wood Pulp Imports

Imports into Republic of Korea

In 2022, mechanical wood pulp imports into South Korea declined markedly to X tons, which is down by -20.4% compared with 2021. In general, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 137% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, mechanical wood pulp imports contracted to $X in 2022. Overall, imports showed a pronounced contraction. The pace of growth appeared the most rapid in 2014 with an increase of 130%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest mechanical wood pulp supplier to South Korea, with a 89% share of total imports. Moreover, mechanical wood pulp imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.7% per year) and Germany (+6.1% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of mechanical wood pulp to South Korea, comprising 94% of total imports. The second position in the ranking was taken by the United States ($X), with a 2.8% share of total imports. It was followed by Germany, with a 2% share.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) totaled +25.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.7% per year) and Germany (+10.9% per year).

Import Prices by Country

The average mechanical wood pulp import price stood at $X per ton in 2022, rising by 14% against the previous year. Over the period under review, the import price recorded a remarkable increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by 25% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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