Republic of Korea: Market for Prepared Additives For Cements, Mortars Or Concretes 2024

Market Size for Prepared Additives For Cements, Mortars Or Concretes in Republic of Korea

The South Korean prepared additives for cements market reached $X in 2022, with an increase of 12% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Prepared Additives For Cements, Mortars Or Concretes in Republic of Korea

In value terms, prepared additives for cements production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 24% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Prepared Additives For Cements, Mortars Or Concretes

Exports from Republic of Korea

In 2022, prepared additives for cements exports from South Korea reduced rapidly to X tons, waning by -19% on 2021 figures. Over the period under review, total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -28.0% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 34% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, prepared additives for cements exports fell significantly to $X in 2022. Overall, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +2.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 31%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons), Vietnam (X tons) and India (X tons) were the main destinations of prepared additives for cements exports from South Korea, together comprising 30% of total exports. The United States, the Philippines, Slovenia, Taiwan (Chinese), the United Arab Emirates, Colombia, the Netherlands, Australia, Slovakia and Spain lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +188.5%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Vietnam ($X) and the United States ($X) constituted the largest markets for prepared additives for cements exported from South Korea worldwide, with a combined 31% share of total exports.

The United States, with a CAGR of +198.8%, recorded the highest growth rate of the value of exports, in terms of 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 prepared additives for cements export price amounted to $X per ton, with an increase of 4.5% against the previous year. Overall, the export price, however, continues to indicate a slight setback. The pace of growth appeared the most rapid in 2021 when the average export price increased by 19%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 the United States (+3.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Prepared Additives For Cements, Mortars Or Concretes

Imports into Republic of Korea

For the third year in a row, South Korea recorded decline in overseas purchases of prepared additives for cements, mortars or concretes, which decreased by -35.1% to X tons in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 116%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, prepared additives for cements imports shrank markedly to $X in 2022. In general, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 39%. Imports peaked at $X in 2021, and then fell sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of prepared additives for cements to South Korea, with a 78% share of total imports. Moreover, prepared additives for cements imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. Germany (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.8% per year) and Germany (-4.9% per year).

In value terms, China ($X) constituted the largest supplier of prepared additives for cements, mortars or concretes to South Korea, comprising 42% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.6% per year) and Italy (+46.6% per year).

Import Prices by Country

The average prepared additives for cements import price stood at $X per ton in 2022, growing by 5.4% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prepared additives for cements import price increased by +40.9% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 48%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: 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 China (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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