Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea - 2022
Contents:
- Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea (CIF) - 2022
- Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea (FOB) - 2022
- Imports of Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea
- Exports of Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea
Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea (CIF) - 2022
The average import price for silicates; of sodium (excluding sodium metasilicates)s stood at $334 per ton in December 2022, almost unchanged from the previous month. Over the period under review, the import price, however, saw a mild decrease. The pace of growth was the most pronounced in March 2022 an increase of 8.1% month-to-month. Over the period under review, average import prices hit record highs at $413 per ton in January 2022; however, from February 2022 to December 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From December 2021 to December 2022, the rate of growth in terms of prices for India amounted to +9.6% per month.
Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea (FOB) - 2022
The average export price for silicates; of sodium (excluding sodium metasilicates)s stood at $496 per ton in 2022, with a decrease of -13.2% against the previous year. Over the period under review, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 19% against the previous year. Over the period under review, the average export prices hit record highs at $902 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($3,143 per ton), while the average price for exports to Malaysia ($284 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 Indonesia (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea
Imports of silicates; of sodium (excluding sodium metasilicates)s into South Korea contracted to 116K tons in 2022, waning by -4.8% against 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 9.1% against the previous year. As a result, imports attained the peak of 121K tons, and then contracted in the following year.
In value terms, imports of silicates; of sodium (excluding sodium metasilicates)s surged to $43M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +13.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 49% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 28.6 | 24.1 | 33.2 | 40.1 | 11.9% |
| India | 0.3 | 0.1 | 2.2 | 1.3 | 63.0% |
| Vietnam | N/A | N/A | 0.9 | 0.9 | 0.0% |
| Others | 0.9 | 0.9 | 1.1 | 0.9 | 0.0% |
| Total | 29.7 | 25.1 | 37.3 | 43.2 | 13.3% |
Top Suppliers of Silicates; of Sodium (Excluding Sodium Metasilicates) to South Korea in 2022:
- China (108.7K tons)
- India (3.8K tons)
- Vietnam (2.3K tons)
Exports of Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea
In 2022, the amount of silicates; of sodium (excluding sodium metasilicates)s exported from South Korea expanded modestly to 475 tons, picking up by 1.7% against 2021 figures. Over the period under review, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2020 when exports increased by 8.5%. As a result, the exports attained the peak of 864 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of silicates; of sodium (excluding sodium metasilicates)s reduced to $236K in 2022. In general, exports, however, faced a abrupt contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 7.6% against the previous year. As a result, the exports attained the peak of $433K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Silicates; of Sodium (Excluding Sodium Metasilicates) in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 154 | 131 | 83.0 | 92.8 | -15.5% |
| Indonesia | 65.9 | 57.0 | 79.3 | 60.9 | -2.6% |
| Vietnam | 104 | 158 | 40.1 | 37.3 | -29.0% |
| Bangladesh | 52.8 | 28.1 | 19.4 | 34.5 | -13.2% |
| Sri Lanka | 11.0 | 4.5 | N/A | N/A | -59.1% |
| Others | 13.5 | 53.6 | 44.9 | 10.0 | -9.5% |
| Total | 402 | 433 | 267 | 236 | -16.3% |
Top Export Markets for Silicates; of Sodium (Excluding Sodium Metasilicates) from South Korea in 2022:
- Malaysia (327.2 tons)
- Vietnam (65.1 tons)
- Bangladesh (54.6 tons)
- Indonesia (19.4 tons)
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