Republic of Korea: Market for Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone 2025

Market Size for Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone in Republic of Korea

The South Korean cement prefabricated structural components market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, showed a pronounced descent. Cement prefabricated structural components consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone in Republic of Korea

In value terms, cement prefabricated structural components production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the production volume increased by 39% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone

Exports from Republic of Korea

In 2021, overseas shipments of prefabricated structural components of cement, concrete or artificial stone decreased by -80.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports showed a sharp slump. The pace of growth was the most pronounced in 2013 when exports increased by 108% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, cement prefabricated structural components exports dropped sharply to $X in 2021. Over the period under review, exports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2013 with an increase of 92% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for cement prefabricated structural components exports from South Korea, with a 58% share of total exports. Moreover, cement prefabricated structural components exports to Russia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), sixfold. Bangladesh (X tons) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume to Russia amounted to +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+26.9% per year) and Bangladesh (-10.4% per year).

In value terms, Maldives ($X), Russia ($X) and the United Arab Emirates ($X) appeared to be the largest markets for cement prefabricated structural components exported from South Korea worldwide, with a combined 48% share of total exports. Bangladesh, Qatar, Guatemala, Chile, Algeria and Mongolia lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, Chile, with a CAGR of +45.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cement prefabricated structural components export price amounted to $X per ton, with an increase of 78% against the previous year. In general, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Russia ($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 Bangladesh (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone

Imports into Republic of Korea

In 2021, overseas purchases of prefabricated structural components of cement, concrete or artificial stone increased by 8.1% to X tons, rising for the second consecutive year after two years of decline. Overall, imports saw significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 377%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, cement prefabricated structural components imports surged to $X in 2021. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 166% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest cement prefabricated structural components supplier to South Korea, accounting for a 64% share of total imports. Moreover, cement prefabricated structural components imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. Greece (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +45.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+51.1% per year) and Greece (+70.6% per year).

In value terms, the largest cement prefabricated structural components suppliers to South Korea were China ($X), Japan ($X) and Germany ($X), with a combined 65% share of total imports. Greece lagged somewhat behind, comprising a further 2.7%.

In terms of the main suppliers, Greece, with a CAGR of +72.9%, saw the highest growth rate of 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 cement prefabricated structural components import price amounted to $X per ton, growing by 13% against the previous year. Overall, the import price, however, saw a abrupt downturn. The growth pace was the most rapid in 2018 an increase of 17% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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