Republic of Korea: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in Republic of Korea

In 2022, the South Korean zirconium ore and concentrate market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, saw a drastic downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Zirconium Ores and Concentrates

Exports from Republic of Korea

In 2022, overseas shipments of zirconium ores and concentrates decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, zirconium ore and concentrate exports shrank significantly to $X in 2022. In general, exports showed a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of zirconium ore and concentrate exports from South Korea, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Indonesia ($X) remains the key foreign market for zirconium ores and concentrates exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

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

Export Prices by Country

The average zirconium ore and concentrate export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price, however, continues to indicate a mild setback. The pace of growth appeared the most rapid in 2019 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to China ($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 Japan (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Zirconium Ores and Concentrates

Imports into Republic of Korea

In 2022, supplies from abroad of zirconium ores and concentrates increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, zirconium ore and concentrate imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a deep setback. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa (X tons), Australia (X tons) and Thailand (X tons) were the main suppliers of zirconium ore and concentrate imports to South Korea, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, South Africa ($X), Australia ($X) and Thailand ($X) constituted the largest zirconium ore and concentrate suppliers to South Korea, with a combined X% share of total imports.

South Africa, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average zirconium ore and concentrate import price amounted to $X per ton, jumping by X% against the previous year. Overall, the import price, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per ton) and Thailand ($X per ton), while the price for South Africa ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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