Republic of Korea: Sulphides Of Non-Metals Market 2024

Sulphides Of Non-Metals Market Size in Republic of Korea

In 2021, the South Korean sulphides of non-metals market increased by 314% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, faced a dramatic decline. Sulphides of non-metals consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Sulphides Of Non-Metals Production in Republic of Korea

In value terms, sulphides of non-metals production dropped significantly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a precipitous shrinkage. Over the period under review, production hit record highs at $X in 2020, and then reduced notably in the following year.

Sulphides Of Non-Metals Exports

Exports from Republic of Korea

For the eighth year in a row, South Korea recorded growth in overseas shipments of sulphides of non-metals and commercial phosphorus trisulphide, which increased by 27% to X tons in 2021. In general, exports recorded a significant increase. The growth pace was the most rapid in 2014 with an increase of 102%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, sulphides of non-metals exports skyrocketed to $X in 2021. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 247% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Japan (X tons), China (X tons) and Thailand (X tons) were the main destinations of sulphides of non-metals exports from South Korea, with a combined 82% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +42.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Thailand ($X) constituted the largest markets for sulphides of non-metals exported from South Korea worldwide, together accounting for 94% of total exports.

Among the main countries of destination, Thailand, with a CAGR of +119.3%, saw 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

The average sulphides of non-metals export price stood at $X per ton in 2021, with an increase of 35% against the previous year. Overall, the export price enjoyed prominent growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 153%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Indonesia ($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 Japan (+62.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphides Of Non-Metals Imports

Imports into Republic of Korea

In 2021, purchases abroad of sulphides of non-metals and commercial phosphorus trisulphide increased by 46% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a precipitous shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 72%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, sulphides of non-metals imports rose significantly to $X in 2021. Overall, imports, however, recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 16%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Japan (X tons), Indonesia (X tons) and China (X tons) were the main suppliers of sulphides of non-metals imports to South Korea, together accounting for 83% of total imports. The United States, Germany and India lagged somewhat behind, together comprising a further 7.1%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of -10.0%), while purchases for the other leaders experienced a decline.

In value terms, Japan ($X) constituted the largest supplier of sulphides of non-metals and commercial phosphorus trisulphide to South Korea, comprising 85% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by the United States, with a 0.5% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled -25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.4% per year) and the United States (-24.4% per year).

Import Prices by Country

The average sulphides of non-metals import price stood at $X per ton in 2021, falling by -27.8% against the previous year. Over the period under review, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by 154%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then reduced markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for India ($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 (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :