Price for Silicates; Commercial Alkali Metal Silicates in South Korea - 2022
Contents:
- Price for Silicates; Commercial Alkali Metal Silicates in South Korea (CIF) - 2022
- Price for Silicates; Commercial Alkali Metal Silicates in South Korea (FOB) - 2022
- Imports of Silicates; Commercial Alkali Metal Silicates in South Korea
- Exports of Silicates; Commercial Alkali Metal Silicates in South Korea
Price for Silicates; Commercial Alkali Metal Silicates in South Korea (CIF) - 2022
The average import price for silicates; commercial alkali metal silicateses stood at $444 per ton in 2022, rising by 22% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silicates; commercial alkali metal silicates import price increased by +49.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 22% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($386 per ton), while the price for India ($361 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.4%), while the prices for the other major suppliers experienced a decline.
Price for Silicates; Commercial Alkali Metal Silicates in South Korea (FOB) - 2022
The average export price for silicates; commercial alkali metal silicateses stood at $524 per ton in 2022, increasing by 16% against the previous year. Over the period under review, the export price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 27% against the previous year. The export price peaked at $2,030 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($2,766 per ton), while the average price for exports to Malaysia ($211 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 Thailand (-0.5%), while the prices for the other major destinations experienced a decline.
Imports of Silicates; Commercial Alkali Metal Silicates in South Korea
In 2022, the amount of silicates; commercial alkali metal silicateses imported into South Korea dropped to 123K tons, declining by -7.5% compared with 2021 figures. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of 133K tons, and then shrank in the following year.
In value terms, silicates; commercial alkali metal silicates imports expanded significantly to $54M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +10.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.
| Import of Silicates; Commercial Alkali Metal Silicates in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 31.9 | 26.5 | 36.5 | 43.8 | 11.1% |
| India | 0.3 | 0.1 | 2.2 | 1.4 | 67.1% |
| Vietnam | N/A | N/A | 0.9 | 0.9 | 0.0% |
| Others | 8.3 | 8.3 | 8.7 | 8.5 | 0.8% |
| Total | 40.5 | 34.9 | 48.3 | 54.5 | 10.4% |
Top Suppliers of Silicates; Commercial Alkali Metal Silicates to South Korea in 2022:
- China (113.8K tons)
- India (3.8K tons)
- Vietnam (2.3K tons)
Exports of Silicates; Commercial Alkali Metal Silicates in South Korea
For the fourth consecutive year, South Korea recorded growth in overseas shipments of silicates; commercial alkali metal silicateses, which increased by 11% to 13K tons in 2022. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 424% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, silicates; commercial alkali metal silicates exports soared to $6.7M in 2022. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 66%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Silicates; Commercial Alkali Metal Silicates in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 197 | 1,223 | 1,762 | 2,226 | 124.4% |
| China | 697 | 989 | 1,418 | 2,156 | 45.7% |
| Thailand | 25.0 | 17.7 | 695 | 802 | 217.7% |
| Vietnam | 192 | 254 | 197 | 257 | 10.2% |
| Dominican Republic | 76.5 | 56.4 | 140 | 130 | 19.3% |
| Others | 733 | 642 | 934 | 1,089 | 14.1% |
| Total | 1,921 | 3,182 | 5,146 | 6,660 | 51.3% |
Top Export Markets for Silicates; Commercial Alkali Metal Silicates from South Korea in 2022:
- Malaysia (10.5K tons)
- China (0.8K tons)
- Vietnam (0.5K tons)
- Thailand (0.3K tons)
- Dominican Republic (0.1K tons)
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