Republic of Korea: Market for Non-Refractory Clay Flooring Blocks, Support Or Filler Tiles 2024

Market Size for Non-Refractory Clay Flooring Blocks, Support Or Filler Tiles in Republic of Korea

For the fourth year in a row, the South Korean market for non-refractory clay flooring blocks, support or filler tiles recorded decline in sales value, which decreased by -31.4% to $X in 2022. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Exports of Non-Refractory Clay Flooring Blocks, Support Or Filler Tiles

Exports from Republic of Korea

Exports of non-refractory clay flooring blocks, support or filler tiles from South Korea contracted notably to X tons in 2022, shrinking by -57.7% on 2021. Overall, exports showed a sharp reduction. The pace of growth appeared the most rapid in 2015 when exports increased by 977%. Over the period under review, the exports of reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of non-refractory clay flooring blocks, support or filler tiles reduced to $X in 2022. Over the period under review, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 when exports increased by 1,508%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of non-refractory clay flooring blocks, support or filler tiles from South Korea, accounting for a 70% share of total exports. Moreover, exports of non-refractory clay flooring blocks, support or filler tiles to the United States exceeded the volume sent to the second major destination, Canada (X tons), fourfold. The third position in this ranking was taken by Guam (X tons), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+22.2% per year) and Guam (+39.6% per year).

In value terms, the largest markets for non-refractory clay flooring blocks, support or filler tiles exported from South Korea were the United States ($X), Canada ($X) and Guam ($X), with a combined 96% share of total exports.

Among the main countries of destination, Canada, with a CAGR of +27.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for non-refractory clay flooring blocks, support or filler tiles stood at $X per ton in 2022, with an increase of 105% against the previous year. In general, the export price continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2014 an increase of 110% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the Philippines ($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 Micronesia (+30.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Refractory Clay Flooring Blocks, Support Or Filler Tiles

Imports into Republic of Korea

In 2022, approx. X tons of non-refractory clay flooring blocks, support or filler tiles were imported into South Korea; shrinking by -46% on 2021 figures. In general, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 67%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of non-refractory clay flooring blocks, support or filler tiles declined dramatically to $X in 2022. Overall, imports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 50%. Over the period under review, imports of attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of non-refractory clay flooring blocks, support or filler tiles to South Korea, with a 70% share of total imports. Moreover, imports of non-refractory clay flooring blocks, support or filler tiles from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+31.8% per year) and the United States (+30.6% per year).

In value terms, China ($X), Japan ($X) and Italy ($X) constituted the largest non-refractory clay flooring blocks, support or filler tiles suppliers to South Korea, together comprising 87% of total imports. The United States, Spain, Germany and Vietnam lagged somewhat behind, together comprising a further 11%.

In terms of the main suppliers, the United States, with a CAGR of +29.0%, saw 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

The average import price for non-refractory clay flooring blocks, support or filler tiles stood at $X per ton in 2022, surging by 39% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 53% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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