Republic of Korea: Wood Pulp Market 2024

Wood Pulp Market Size in Republic of Korea

In 2022, the South Korean wood pulp market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Wood Pulp Production in Republic of Korea

In value terms, wood pulp production declined modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Wood pulp production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Wood Pulp Exports

Exports from Republic of Korea

In 2022, overseas shipments of wood pulp decreased by X% to X tons, falling for the second year in a row after five years of growth. Overall, exports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, wood pulp exports fell to $X in 2022. In general, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted in the following year.

Exports by Country

China (X tons) was the main destination for wood pulp exports from South Korea, accounting for a X% share of total exports. Moreover, wood pulp exports to China exceeded the volume sent to the second major destination, Japan (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Thailand (X% per year).

In value terms, China ($X) remains the key foreign market for wood pulp exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Thailand (X% per year).

Export Prices by Country

The average wood pulp export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood pulp export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

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 ($X per ton), while the average price for exports to Japan ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Pulp Imports

Imports into Republic of Korea

In 2022, after four years of decline, there was growth in purchases abroad of wood pulp, when their volume increased by X% to X tons. Overall, imports, however, recorded a slight reduction. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, wood pulp imports surged to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X tons), Canada (X tons) and Indonesia (X tons) were the main suppliers of wood pulp imports to South Korea, together comprising X% of total imports. Chile, Uruguay, the United States, Russia and New Zealand lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest wood pulp suppliers to South Korea were Brazil ($X), Canada ($X) and Indonesia ($X), with a combined X% share of total imports. Chile, the United States, Uruguay, Russia and New Zealand lagged somewhat behind, together comprising a further X%.

Uruguay, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 wood pulp import price amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and New Zealand ($X per ton), while the price for Brazil ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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