Report Republic of Korea - Precious Metal Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Republic of Korea - Precious Metal Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Republic of Korea

The South Korean market for precious metal ores and concentrates was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption posted a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Precious Metal Ores And Concentrates in Republic of Korea

In value terms, precious metal ore and concentrate production expanded remarkably to $X in 2022 estimated in export price. In general, production posted a buoyant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 757% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Precious Metal Ores And Concentrates

Exports from Republic of Korea

In 2022, shipments abroad of precious metal ores and concentrates increased by 13% to X tons, rising for the third year in a row after two years of decline. Overall, exports saw a significant increase. The growth pace was the most rapid in 2017 with an increase of 10,227,848% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, precious metal ore and concentrate exports soared to $X in 2022. In general, exports recorded a significant increase. The growth pace was the most rapid in 2017 with an increase of 12,257,344% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons) was the main destination for precious metal ore and concentrate exports from South Korea, with a 86% share of total exports. Moreover, precious metal ore and concentrate exports to China exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and Japan (+630.3% per year).

In value terms, the largest markets for precious metal ore and concentrate exported from South Korea were the United Arab Emirates ($X), China ($X) and Japan ($X), with a combined 99.9% share of total exports.

Japan, with a CAGR of +527.1%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for precious metal ores and concentrates amounted to $X per ton, rising by 2,481% against the previous year. In general, the export price posted significant growth. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to China ($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 China (+15.3%), while the prices for the other major destinations experienced a decline.

Imports of Precious Metal Ores And Concentrates

Imports into Republic of Korea

Precious metal ore and concentrate imports into South Korea stood at X tons in 2022, surging by 11% compared with 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, precious metal ore and concentrate imports contracted slightly to $X in 2022. Overall, imports, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 29%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Mexico (X tons), Uruguay (X tons) and Peru (X tons) were the main suppliers of precious metal ore and concentrate imports to South Korea, with a combined 72% share of total imports. Argentina, Papua New Guinea, Bolivia and Chile lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +65.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Uruguay ($X), Papua New Guinea ($X) and Mexico ($X) were the largest precious metal ore and concentrate suppliers to South Korea, together comprising 68% of total imports. Peru, Argentina, Bolivia and Chile lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, Bolivia, with a CAGR of +58.8%, 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

The average import price for precious metal ores and concentrates stood at $X per ton in 2022, dropping by -13.1% against the previous year. Over the period under review, the import price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2013 an increase of 20%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Papua New Guinea ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of precious metal ore and concentrate consumption was China, comprising approx. 39% of total volume. Moreover, precious metal ore and concentrate consumption in China exceeded the figures recorded by the second-largest consumer, Russia, sevenfold. Peru ranked third in terms of total consumption with a 5.4% share.
The countries with the highest volumes of in 2021 were Australia, Peru and Russia, together accounting for 37% of global production. These countries were followed by Ecuador, Greece, Indonesia, Turkey, Mexico, Brazil, South Africa, Argentina, Chile and Tanzania, which together accounted for a further 34%.
In value terms, Bolivia, Mexico and Argentina appeared to be the largest precious metal ore and concentrate suppliers to South Korea, with a combined 72% share of total imports. Peru, Uruguay and Honduras lagged somewhat behind, together accounting for a further 11%.
It was followed by Canada, with a 9.3% share.
The average export price for precious metal ores and concentrates stood at $14,774 per ton in 2021, picking up by 933% against the previous year.
The average import price for precious metal ores and concentrates stood at $63,187 per ton in 2021, rising by 20% against the previous year.

This report provides an in-depth analysis of the market for precious metal ore and concentrate in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 07291400 - Precious metal ores and concentrates

Country coverage:

  • South Korea

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Republic of Korea
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023
  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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