Republic of Korea: Asphalted Paper Market 2025

Asphalted Paper Market Size in Republic of Korea

The South Korean asphalted paper market surged to $X in 2022, rising by 639% against the previous year. In general, consumption saw a significant expansion. Asphalted paper consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Asphalted Paper Production in Republic of Korea

In value terms, asphalted paper production soared to $X in 2022 estimated in export price. In general, production, however, recorded a mild slump. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Asphalted Paper Exports

Exports from Republic of Korea

In 2022, overseas shipments of tarred, bituminised or asphalted paper and paperboard decreased by -7.9% to X tons, falling for the fourth consecutive year after four years of growth. Overall, exports, however, saw a pronounced increase. The pace of growth was the most pronounced in 2016 with an increase of 228% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, asphalted paper exports fell to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 259%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guam (X tons) was the main destination for asphalted paper exports from South Korea, with a 68% share of total exports. Moreover, asphalted paper exports to Guam exceeded the volume sent to the second major destination, Thailand (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guam amounted to +153.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+53.3% per year) and the United States (-15.0% per year).

In value terms, Guam ($X) emerged as the key foreign market for tarred, bituminised or asphalted paper and paperboard exports from South Korea, comprising 55% of total exports. The second position in the ranking was held by Thailand ($X), with a 24% share of total exports. It was followed by the United States, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guam totaled +92.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+30.5% per year) and the United States (-25.7% per year).

Export Prices by Country

The average asphalted paper export price stood at $X per ton in 2022, shrinking by -7% against the previous year. In general, the export price saw a noticeable slump. The most prominent rate of growth was recorded in 2013 when the average export price increased by 170%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Vietnam ($X per ton), while the average price for exports to Guam ($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 Vietnam (+14.4%), while the prices for the other major destinations experienced mixed trend patterns.

Asphalted Paper Imports

Imports into Republic of Korea

In 2022, supplies from abroad of tarred, bituminised or asphalted paper and paperboard decreased by -40.7% to X tons, falling for the fifth consecutive year after two years of growth. Overall, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2017 when imports increased by 185%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, asphalted paper imports reduced sharply to $X in 2022. In general, imports saw a perceptible curtailment. The pace of growth was the most pronounced in 2014 with an increase of 353% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Italy (X tons) and Japan (X tons) were the main suppliers of asphalted paper imports to South Korea, together comprising 100% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +1.7%), while purchases for the other leaders experienced a decline.

In value terms, the largest asphalted paper suppliers to South Korea were Japan ($X), China ($X) and Italy ($X), with a combined 98% share of total imports.

Among the main suppliers, Italy, with a CAGR of +5.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average asphalted paper import price amounted to $X per ton, which is down by -6% against the previous year. In general, the import price, however, posted a strong expansion. The pace of growth was the most pronounced in 2020 an increase of 161%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, 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 China (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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