Republic of Korea: Market for Sulphates Of Barium Or Aluminium 2024

Market Size for Sulphates Of Barium Or Aluminium in Republic of Korea

The South Korean barium or aluminium sulphates market shrank to $X in 2022, falling by -11.2% 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). In general, consumption saw a noticeable contraction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Exports of Sulphates Of Barium Or Aluminium

Exports from Republic of Korea

In 2022, the amount of sulphates of barium or aluminium exported from South Korea contracted rapidly to X tons, which is down by -18.1% on 2021 figures. Overall, exports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 26% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, barium or aluminium sulphates exports reduced to $X in 2022. In general, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X tons), China (X tons) and Bangladesh (X tons) were the main destinations of barium or aluminium sulphates exports from South Korea, with a combined 69% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +30.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), China ($X) and Japan ($X) were the largest markets for barium or aluminium sulphates exported from South Korea worldwide, together comprising 62% of total exports. Vietnam, Bangladesh, India, Singapore, Hong Kong SAR, Malaysia and Uzbekistan lagged somewhat behind, together accounting for a further 30%.

Bangladesh, with a CAGR of +30.2%, recorded 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 2022, the average barium or aluminium sulphates export price amounted to $X per ton, growing by 16% against the previous year. In general, the export price, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2018 when the average export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Singapore ($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 Japan (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sulphates Of Barium Or Aluminium

Imports into Republic of Korea

After two years of growth, supplies from abroad of sulphates of barium or aluminium decreased by -21.1% to X tons in 2022. In general, imports saw a pronounced setback. The growth pace was the most rapid in 2021 when imports increased by 12%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, barium or aluminium sulphates imports reduced to $X in 2022. Overall, imports showed a pronounced slump. The pace of growth was the most pronounced in 2013 when imports increased by 24%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest barium or aluminium sulphates supplier to South Korea, accounting for a 75% share of total imports. Moreover, barium or aluminium sulphates imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. Italy (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-10.4% per year) and Italy (-8.3% per year).

In value terms, China ($X) constituted the largest supplier of sulphates of barium or aluminium to South Korea, comprising 56% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by Japan, with a 13% share.

From 2012 to 2022, 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: Germany (-11.5% per year) and Japan (-1.1% per year).

Import Prices by Country

In 2022, the average barium or aluminium sulphates import price amounted to $X per ton, rising by 16% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 19%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :