Republic of Korea: Graphite Non-Electrical Articles Market 2024

Graphite Non-Electrical Articles Market Size in Republic of Korea

The South Korean graphite non-electrical articles market dropped dramatically to $X in 2021, shrinking by -19.3% against the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -41.3% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Graphite Non-Electrical Articles Production in Republic of Korea

In value terms, graphite non-electrical articles production contracted slightly to $X in 2021 estimated in export price. In general, production, however, posted resilient growth. The growth pace was the most rapid in 2013 when the production volume increased by 181% against the previous year. Graphite non-electrical articles production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Graphite Non-Electrical Articles Exports

Exports from Republic of Korea

In 2021, approx. X tons of non-electrical articles of graphite or other carbon were exported from South Korea; growing by 55% on the year before. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 78%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, graphite non-electrical articles exports surged to $X in 2021. In general, exports continue to indicate a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for graphite non-electrical articles exports from South Korea, accounting for a 53% share of total exports. Moreover, graphite non-electrical articles exports to China exceeded the volume sent to the second major destination, the United States (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+37.4% per year) and Vietnam (+27.9% per year).

In value terms, China ($X) remains the key foreign market for graphite non-electrical articles exports from South Korea, comprising 46% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by Vietnam, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+26.9% per year) and Vietnam (+38.6% per year).

Export Prices by Country

The average graphite non-electrical articles export price stood at $X per ton in 2021, with an increase of 3.2% against the previous year. Overall, the export price, however, continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2015 when the average export price increased by 17%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Malaysia ($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 Vietnam (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Graphite Non-Electrical Articles Imports

Imports into Republic of Korea

In 2021, graphite non-electrical articles imports into South Korea skyrocketed to X tons, picking up by 39% compared with 2020 figures. The total import volume increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, graphite non-electrical articles imports soared to $X in 2021. The total import value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of graphite non-electrical articles imports to South Korea, with a combined 68% share of total imports. These countries were followed by Germany, Hungary, Poland, Vietnam, France, Mexico, the Netherlands, the UK and Taiwan (Chinese), which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +163.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) appeared to be the largest graphite non-electrical articles suppliers to South Korea, together accounting for 68% of total imports. Vietnam, Germany, the Netherlands, France, Poland, the UK, Hungary, Taiwan (Chinese) and Mexico lagged somewhat behind, together accounting for a further 25%.

In terms of the main suppliers, Vietnam, with a CAGR of +229.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average graphite non-electrical articles import price amounted to $X per ton, surging by 2.5% against the previous year. Over the period under review, the import price, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2018 an increase of 7.9% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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