Republic of Korea: Steatite Market 2021

Steatite Market Size in Republic of Korea

The South Korean steatite market soared to $X in 2019, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Steatite Exports

Exports from Republic of Korea

In 2019, approx. X tons of steatites were exported from South Korea; growing by X% compared with 2018. Overall, exports enjoyed a strong increase. The growth pace was the most rapid in 2014 with an increase of X% y-o-y. Over the period under review, exports attained the peak figure in 2019 and are expected to retain growth in the immediate term.

In value terms, steatite exports fell to $X in 2019. Over the period under review, exports recorded a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X% y-o-y. Exports peaked at $X in 2018, and then shrank modestly in the following year.

Exports by Country

Japan (X tons), Mexico (X tons) and China (X tons) were the main destinations of steatite exports from South Korea, with a combined X% share of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steatite exported from South Korea were Japan ($X), China ($X) and Mexico ($X), with a combined X% share of total exports.

Mexico (+X% per year) saw the highest rates of growth with regard to 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 2019, the average steatite export price amounted to $X per ton, which is down by -X% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, steatite export price decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2011 an increase of X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2019, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to China, while the prices for the other major destinations experienced mixed trend patterns.

Steatite Imports

Imports into Republic of Korea

In 2019, imports of steatites into South Korea expanded notably to X tons, picking up by X% compared with 2018 figures. In general, total imports indicated temperate growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2015 indices. The growth pace was the most rapid in 2011 with an increase of X% y-o-y. Imports peaked in 2019 and are expected to retain growth in the near future.

In value terms, steatite imports soared to $X in 2019. The total import value increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2019, China (X tons) constituted the largest steatite supplier to South Korea, with a X% share of total imports. Moreover, steatite imports from China exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), threefold. The third position in this ranking was occupied by India (X tons), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+X% per year) and India (+X% per year).

In value terms, China ($X) constituted the largest supplier of steatite to South Korea, comprising X% of total imports. The second position in the ranking was occupied by Pakistan ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+X% per year) and India (+X% per year).

Import Prices by Country

In 2019, the average steatite import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2009 an increase of X% y-o-y. As a result, import price reached the peak level of $X per ton. From 2010 to 2019, the growth in terms of the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Pakistan, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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