Republic of Korea: Worked Slate Market 2024

Worked Slate Market Size in Republic of Korea

The South Korean worked slate market surged to $X in 2022, jumping by 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a strong expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Worked Slate Exports

Exports from Republic of Korea

In 2022, overseas shipments of worked slate decreased by -21.7% to X tons, falling for the second consecutive year after three years of growth. Overall, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 131% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, worked slate exports contracted modestly to $X in 2022. In general, exports faced a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 214%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for worked slate exports from South Korea, with a 62% share of total exports. Moreover, worked slate exports to the Netherlands exceeded the volume sent to the second major destination, China (X tons), fivefold. The United States (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands stood at -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-16.1% per year) and the United States (-27.0% per year).

In value terms, the largest markets for worked slate exported from South Korea were Vietnam ($X), the Netherlands ($X) and Malaysia ($X), together comprising 56% of total exports.

Among the main countries of destination, Vietnam, with a CAGR of +10.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average worked slate export price stood at $X per ton in 2022, rising by 27% against the previous year. Overall, the export price showed measured growth. The most prominent rate of growth was recorded in 2015 an increase of 36%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained 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 India ($X per ton), while the average price for exports to the Netherlands ($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 India (+56.2%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Slate Imports

Imports into Republic of Korea

In 2022, approx. X tons of worked slate were imported into South Korea; with an increase of 3.8% compared with the previous year. Overall, imports posted a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 558% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, worked slate imports skyrocketed to $X in 2022. Over the period under review, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 586% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of worked slate to South Korea, with a 69% share of total imports. Moreover, worked slate imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sixfold. The third position in this ranking was taken by Indonesia (X tons), with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+23.9% per year) and Indonesia (+38.0% per year).

In value terms, China ($X) constituted the largest supplier of worked slate to South Korea, comprising 84% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 2.3% share of total imports. It was followed by Vietnam, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+47.6% per year) and Vietnam (+9.8% per year).

Import Prices by Country

The average worked slate import price stood at $X per ton in 2022, with an increase of 20% against the previous year. In general, the import price showed a resilient expansion. The growth pace was the most rapid in 2013 an increase of 33% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Portugal ($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 (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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