Republic of Korea - Magnesium - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMagnesium Price in South Korea - 2022
Contents:
- Magnesium Price in South Korea (CIF) - 2022
- Magnesium Price in South Korea (FOB) - 2022
- Magnesium Imports in South Korea
- Magnesium Exports in South Korea
Magnesium Price in South Korea (CIF) - 2022
In December 2022, the average magnesium import price amounted to $3,581 per ton, shrinking by -3.5% against the previous month. In general, the import price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in February 2022 when the average import price increased by 10% against the previous month. As a result, import price reached the peak level of $7,539 per ton. From March 2022 to December 2022, the average import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was China ($3,606 per ton), while the price for Vietnam stood at $2,911 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (0.0%).
Magnesium Price in South Korea (FOB) - 2022
The average magnesium export price stood at $4,618 per ton in December 2022, which is down by -8.7% against the previous month. Overall, the export price showed a noticeable slump. The pace of growth appeared the most rapid in February 2022 when the average export price increased by 26% m-o-m. As a result, the export price reached the peak level of $8,116 per ton. From March 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major external markets. In December 2022, the country with the highest price was the United States ($4,614 per ton), while the average price for exports to Singapore stood at $3,712 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+10.8%), while the prices for the other major destinations experienced mixed trend patterns.
Magnesium Imports in South Korea
In 2022, after three years of growth, there was significant decline in overseas purchases of magnesium, when their volume decreased by -5.8% to 22K tons. The total import volume increased at an average annual rate of +3.7% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 18%. As a result, imports reached the peak of 23K tons, and then reduced in the following year.
In value terms, magnesium imports soared to $115M in 2022. Overall, imports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 107% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Magnesium in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 49.7 | 43.2 | 89.0 | 114 | 31.9% |
| Others | 0.1 | 0.1 | 0.8 | 1.1 | 122.4% |
| Total | 49.8 | 43.3 | 89.8 | 115 | 32.2% |
Top Suppliers of Magnesium to South Korea in 2022:
- China (21.7K tons)
Magnesium Exports in South Korea
In 2022, the amount of magnesium exported from South Korea soared to 5.4K tons, jumping by 141% against the previous year. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, magnesium exports soared to $32M in 2022. Overall, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Magnesium in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1.9 | 3.7 | 6.4 | 29.6 | 149.8% |
| Vietnam | 1.1 | 0.3 | 0.8 | 0.8 | -10.1% |
| Netherlands | N/A | 0.1 | 0.5 | 0.6 | 144.9% |
| Japan | N/A | N/A | 0.8 | 0.4 | -50.0% |
| Taiwan (Chinese) | 0.2 | 0.2 | 0.4 | 0.3 | 14.5% |
| Brazil | 2.0 | 3.2 | 0.5 | N/A | -50.0% |
| Others | N/A | 0.1 | N/A | 0.1 | 0.0% |
| Total | 5.4 | 7.5 | 9.4 | 31.8 | 80.6% |
Top Export Markets for Magnesium from South Korea in 2022:
- United States (4978.8 tons)
- Japan (136.6 tons)
- Vietnam (104.7 tons)
- Netherlands (98.7 tons)
- Taiwan (Chinese) (60.3 tons)
This report provides an in-depth analysis of the magnesium market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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