Republic of Korea: Market for Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone 2024

Market Size for Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone in Republic of Korea

In 2021, after two years of decline, there was growth in the South Korean market for tiles, flagstones and similar articles of cement, concrete or artificial stone, when its value increased by 0.8% to $X. In general, consumption posted a strong increase. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone in Republic of Korea

In value terms, production of tiles, flagstones and similar articles of cement, concrete or artificial stone dropped to $X in 2021 estimated in export price. Over the period under review, production recorded a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 55%. Production of peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone

Exports from Republic of Korea

In 2021, the amount of tiles, flagstones and similar articles of cement, concrete or artificial stone exported from South Korea declined to X tons, shrinking by -8% compared with 2020. Overall, exports saw a dramatic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 39%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, exports of tiles, flagstones and similar articles of cement, concrete or artificial stone expanded to $X in 2021. In general, exports showed a dramatic descent. The most prominent rate of growth was recorded in 2013 with an increase of 29%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for exports of tiles, flagstones and similar articles of cement, concrete or artificial stone from South Korea, accounting for a 58% share of total exports. Moreover, exports of tiles, flagstones and similar articles of cement, concrete or artificial stone to Taiwan (Chinese) exceeded the volume sent to the second major destination, Indonesia (X tons), ninefold. The third position in this ranking was taken by Japan (X tons), with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume to Taiwan (Chinese) totaled +37.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+13.9% per year) and Japan (-30.4% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for tiles, flagstones and similar articles of cement, concrete or artificial stone exports from South Korea, comprising 53% of total exports. The second position in the ranking was held by Indonesia ($X), with an 8.4% share of total exports. It was followed by Guam, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Taiwan (Chinese) totaled +32.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+9.9% per year) and Guam (+15.7% per year).

Export Prices by Country

In 2021, the average export price for tiles, flagstones and similar articles of cement, concrete or artificial stone amounted to $X per ton, growing by 12% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for tiles, flagstones and similar articles of cement, concrete or artificial stone increased by +81.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 62%. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Russia ($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 the UK (+21.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone

Imports into Republic of Korea

In 2021, the amount of tiles, flagstones and similar articles of cement, concrete or artificial stone imported into South Korea soared to X tons, increasing by 40% compared with 2020 figures. In general, imports showed a resilient expansion. The growth pace was the most rapid in 2019 when imports increased by 156% against the previous year. Over the period under review, imports of hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, imports of tiles, flagstones and similar articles of cement, concrete or artificial stone surged to $X in 2021. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 180%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest tiles, flagstones and similar articles of cement, concrete or artificial stone supplier to South Korea, with a 82% share of total imports. Moreover, imports of tiles, flagstones and similar articles of cement, concrete or artificial stone from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +16.4%.

In value terms, China ($X) constituted the largest supplier of tiles, flagstones and similar articles of cement, concrete or artificial stone to South Korea, comprising 77% of total imports. The second position in the ranking was held by Italy ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +21.4%.

Import Prices by Country

In 2021, the average import price for tiles, flagstones and similar articles of cement, concrete or artificial stone amounted to $X per ton, growing by 10% against the previous year. Overall, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for tiles, flagstones and similar articles of cement, concrete or artificial stone increased by +61.0% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 23% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.9%).

Source: IndexBox Platform

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