Republic of Korea: Natural Sand Market 2022

Natural Sand Market Size in Republic of Korea

The South Korean natural sand market shrank to $X in 2021, with a decrease of -4.8% against the previous year. Overall, consumption continues to indicate a resilient expansion. Over the period under review, the market reached the peak level at $X in 2020, and then reduced in the following year.

Natural Sand Production in Republic of Korea

In value terms, natural sand production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, showed a significant increase. The pace of growth was the most pronounced in 2014 when the production volume increased by 363% against the previous year. Natural sand production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Natural Sand Exports

Exports from Republic of Korea

In 2021, natural sand exports from South Korea skyrocketed to X tons, increasing by 73% on the year before. In general, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2019 with an increase of 74% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, natural sand exports surged to $X in 2021. Overall, exports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2014 with an increase of 36%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for natural sand exports from South Korea, with a 78% share of total exports. Moreover, natural sand exports to Japan exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold. The third position in this ranking was held by China (X tons), with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan amounted to -17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+43.5% per year) and China (+2.7% per year).

In value terms, the largest markets for natural sand exported from South Korea were Japan ($X), Mexico ($X) and the United Arab Emirates ($X), with a combined 73% share of total exports. These countries were followed by China, Taiwan (Chinese), the Philippines and Saudi Arabia, which together accounted for a further 14%.

The Philippines, with a CAGR of +51.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average natural sand export price amounted to $X per ton, waning by -25.1% against the previous year. Overall, the export price recorded a mild slump. The most prominent rate of growth was recorded in 2013 an increase of 61% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Japan ($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 Mexico (+2.1%), while the prices for the other major destinations experienced a decline.

Natural Sand Imports

Imports into Republic of Korea

Natural sand imports into South Korea surged to X tons in 2021, with an increase of 27% against the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. Imports peaked at X tons in 2012; afterwards, it flattened through to 2021.

In value terms, natural sand imports rose remarkably to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 20% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Australia (X tons), Vietnam (X tons) and Malaysia (X tons) were the main suppliers of natural sand imports to South Korea, with a combined 97% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +6.1%), while imports for the other leaders experienced a decline.

In value terms, Australia ($X) constituted the largest supplier of natural sand to South Korea, comprising 63% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 24% share of total imports. It was followed by Malaysia, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-5.9% per year) and Malaysia (-10.9% per year).

Import Prices by Country

The average natural sand import price stood at $X per ton in 2021, falling by -12.8% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 18%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+25.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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