Republic of Korea: Copper Sanitary Ware Market 2025

Copper Sanitary Ware Market Size in Republic of Korea

After two years of growth, the South Korean copper sanitary ware market decreased by -3.2% to $X in 2021. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.6% 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 increased by +58.8% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank modestly in the following year.

Copper Sanitary Ware Production in Republic of Korea

In value terms, copper sanitary ware production shrank to $X in 2021 estimated in export price. In general, production, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 37%. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Copper Sanitary Ware Exports

Exports from Republic of Korea

In 2021, approx. X tons of sanitary ware and parts of copper were exported from South Korea; with a decrease of -91.8% compared with 2020 figures. Over the period under review, exports continue to indicate a precipitous decline. The pace of growth appeared the most rapid in 2016 when exports increased by 480% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, copper sanitary ware exports fell remarkably to $X in 2021. Overall, exports continue to indicate a precipitous decline. The most prominent rate of growth was recorded in 2018 when exports increased by 416%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X kg), Vietnam (X kg) and Chile (X kg) were the main destinations of copper sanitary ware exports from South Korea, together comprising 46% of total exports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +17.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for sanitary ware and parts of copper exports from South Korea, comprising 24% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with an 11% share of total exports. It was followed by Qatar, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at -8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+6.2% per year) and Qatar (-12.6% per year).

Export Prices by Country

In 2021, the average copper sanitary ware export price amounted to $X per ton, growing by 19% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper sanitary ware export price increased by +64.9% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 39%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Bahrain ($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 Qatar (+33.3%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Sanitary Ware Imports

Imports into Republic of Korea

After two years of decline, supplies from abroad of sanitary ware and parts of copper increased by 107% to X tons in 2021. Over the period under review, imports showed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, copper sanitary ware imports soared to $X in 2021. In general, imports showed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest copper sanitary ware supplier to South Korea, accounting for a 82% share of total imports. Moreover, copper sanitary ware imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+77.7% per year) and India (+78.2% per year).

In value terms, China ($X) constituted the largest supplier of sanitary ware and parts of copper to South Korea, comprising 74% of total imports. The second position in the ranking was held by Vietnam ($X), with a 5.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+56.0% per year) and India (+63.9% per year).

Import Prices by Country

The average copper sanitary ware import price stood at $X per ton in 2021, almost unchanged from the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper sanitary ware import price decreased by -4.8% against 2019 indices. The pace of growth was the most pronounced in 2018 an increase of 29% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :