Republic of Korea: Market for Molybdenum Oxides And Hydroxides 2024

Market Size for Molybdenum Oxides And Hydroxides in Republic of Korea

In 2022, the South Korean molybdenum oxides and hydroxides market increased by 268% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a significant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Molybdenum Oxides And Hydroxides in Republic of Korea

In value terms, molybdenum oxides and hydroxides production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 309,347,200%. Molybdenum oxides and hydroxides production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Molybdenum Oxides And Hydroxides

Exports from Republic of Korea

In 2022, after two years of growth, there was significant decline in shipments abroad of molybdenum oxides and hydroxides, when their volume decreased by -48.4% to X tons. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 1,485% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined remarkably in the following year.

In value terms, molybdenum oxides and hydroxides exports declined to $X in 2022. In general, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 1,318% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

The United States (X tons) was the main destination for molybdenum oxides and hydroxides exports from South Korea, accounting for a 82% share of total exports. Moreover, molybdenum oxides and hydroxides exports to the United States exceeded the volume sent to the second major destination, China (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +29.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+86.2% per year) and India (+41.3% per year).

In value terms, the United States ($X) remains the key foreign market for molybdenum oxides and hydroxides exports from South Korea, comprising 87% of total exports. The second position in the ranking was held by India ($X), with an 8.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +54.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+49.3% per year) and China (+64.6% per year).

Export Prices by Country

The average molybdenum oxides and hydroxides export price stood at $X per ton in 2022, picking up by 77% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Molybdenum Oxides And Hydroxides

Imports into Republic of Korea

In 2022, supplies from abroad of molybdenum oxides and hydroxides increased by 25% to X tons, rising for the fourth year in a row after two years of decline. Overall, imports posted a significant increase. The growth pace was the most rapid in 2019 with an increase of 862%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, molybdenum oxides and hydroxides imports soared to $X in 2022. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 447% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest molybdenum oxides and hydroxides supplier to South Korea, accounting for a 79% share of total imports. Moreover, molybdenum oxides and hydroxides imports from Vietnam exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. China (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam totaled +2,278.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+26.9% per year) and China (+69.2% per year).

In value terms, Vietnam ($X) constituted the largest supplier of molybdenum oxides and hydroxides to South Korea, comprising 89% of total imports. The second position in the ranking was taken by China ($X), with a 5.3% share of total imports. It was followed by Japan, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam totaled +2,562.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+56.5% per year) and Japan (+7.2% per year).

Import Prices by Country

In 2022, the average molybdenum oxides and hydroxides import price amounted to $X per ton, increasing by 85% against the previous year. Over the period under review, the import price, however, recorded a perceptible decrease. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Japan ($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 United States (+29.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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