Republic of Korea: Unwrought Zinc Alloys Market 2024

Unwrought Zinc Alloys Market Size in Republic of Korea

The South Korean unwrought zinc alloys market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Unwrought Zinc Alloys Production in Republic of Korea

In value terms, unwrought zinc alloys production shrank slightly to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.6% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 36% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Unwrought Zinc Alloys Exports

Exports from Republic of Korea

In 2022, approx. X tons of unwrought zinc alloys were exported from South Korea; shrinking by -25.6% against the previous year. Overall, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 28%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, unwrought zinc alloys exports reduced to $X in 2022. Over the period under review, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 56% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), China (X tons) and India (X tons) were the main destinations of unwrought zinc alloys exports from South Korea, together comprising 46% of total exports. Australia, Indonesia, Taiwan (Chinese), Hong Kong SAR, Thailand and Malaysia lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +43.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unwrought zinc alloys exported from South Korea were Vietnam ($X), China ($X) and India ($X), with a combined 46% share of total exports. Australia, Indonesia, Taiwan (Chinese), Hong Kong SAR, Thailand and Malaysia lagged somewhat behind, together accounting for a further 45%.

Thailand, with a CAGR of +50.9%, recorded the highest growth rate of 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

The average unwrought zinc alloys export price stood at $X per ton in 2022, growing by 20% against the previous year. Overall, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, unwrought zinc alloys export price increased by +51.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Vietnam ($X per ton), while the average price for exports to Malaysia ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Unwrought Zinc Alloys Imports

Imports into Republic of Korea

In 2022, approx. X tons of unwrought zinc alloys were imported into South Korea; increasing by 186% compared with the year before. Over the period under review, imports, however, showed a dramatic slump. The most prominent rate of growth was recorded in 2019 with an increase of 295%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, unwrought zinc alloys imports skyrocketed to $X in 2022. In general, imports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2019 when imports increased by 169%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Tanzania (X tons) constituted the largest unwrought zinc alloys supplier to South Korea, accounting for a 72% share of total imports. Moreover, unwrought zinc alloys imports from Tanzania exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume from Tanzania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-10.1% per year) and China (+5.9% per year).

In value terms, China ($X), Tanzania ($X) and Japan ($X) constituted the largest unwrought zinc alloys suppliers to South Korea, together comprising 84% of total imports.

Among the main suppliers, China, with a CAGR of +9.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average unwrought zinc alloys import price amounted to $X per ton, waning by -20.2% against the previous year. In general, the import price, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 an increase of 188% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then contracted significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :