Report Update: May 4, 2024

Republic of Korea - Silicates, Commercial Alkali Metal Silicates - Market Analysis, Forecast, Size, Trends And Insights

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Silicates Price in South Korea - 2022

Silicates Price in South Korea (CIF) - 2022

The average silicates import price stood at $383 per ton in 2022, with an increase of 5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 22% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($325 per ton), while the price for India amounted to $260 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.7%).

Silicates Price in South Korea (FOB) - 2022

In 2022, the average silicates export price amounted to $1,594 per ton, increasing by 9.8% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices attained the peak figure at $1,692 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($19,104 per ton), while the average price for exports to Malaysia ($650 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 Pakistan (+27.5%), while the prices for the other major destinations experienced more modest paces of growth.

Silicates Imports in South Korea

Silicates imports into South Korea fell to 127K tons in 2022, waning by -4% compared with the previous year. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. As a result, imports attained the peak of 133K tons, and then reduced in the following year.

In value terms, silicates imports stood at $49M in 2022. The total import value increased at an average annual rate of +5.9% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 38% 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 Silicates in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	32.3	26.5	36.5	36.9	4.5%
India	0.3	0.1	2.2	2.2	94.3%
Others	8.4	8.3	9.6	9.7	4.9%
Total	41.0	34.9	48.3	48.8	6.0%

Top Suppliers of Silicates to South Korea in 2022:

China (113.5K tons)
India (8.4K tons)

Silicates Exports in South Korea

In 2022, shipments abroad of silicates, commercial alkali metal silicates decreased by -73% to 959 tons for the first time since 2018, thus ending a three-year rising trend. In general, exports faced a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of 65%.

In value terms, silicates exports reduced dramatically to $1.5M in 2022. Over the period under review, exports recorded a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of 65% against the previous year.

Export of Silicates in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	198	1,223	1,743	518	37.8%
China	702	989	1,403	417	-15.9%
Thailand	25.2	17.7	688	205	101.1%
Vietnam	193	254	194	62.7	-31.3%
India	2.8	181	150	44.7	151.8%
Dominican Republic	77.0	56.4	138	41.2	-18.8%
Bangladesh	51.3	28.0	19.2	9.7	-42.6%
Others	684	433	811	230	-30.5%
Total	1,933	3,182	5,147	1,528	-7.5%

Top Export Markets for Silicates from South Korea in 2022:

Malaysia (797.0 tons)
China (49.9 tons)
Vietnam (30.9 tons)
Thailand (29.5 tons)
India (15.0 tons)
Dominican Republic (11.6 tons)
Bangladesh (4.8 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the silicates 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:

Prodcom 20136240 - Silicates, commercial alkali metal silicates

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023