Republic of Korea: Market for Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm 2022

Market Size for Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm in Republic of Korea

In 2021, the South Korean market for aluminium alloy plates, sheets and strip of thickness over X mm was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -X% against 2018 indices. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Aluminium Alloy Plates, Sheets and Strip of Thickness over X mm in Republic of Korea

In value terms, production of aluminium alloy plates, sheets and strip of thickness over X mm reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth failed to regain momentum.

Exports of Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm

Exports from Republic of Korea

In 2021, after four years of growth, there was significant decline in overseas shipments of aluminium alloy plates, sheets and strip of thickness over X mm, when their volume decreased by -X% to X tons. The total export volume increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports of reached the peak figure at X tons in 2020, and then fell dramatically in the following year.

In value terms, exports of aluminium alloy plates, sheets and strip of thickness over X mm shrank to $X in 2021. The total export value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Vietnam (X tons) and India (X tons) were the main destinations of exports of aluminium alloy plates, sheets and strip of thickness over X mm from South Korea, together comprising X% of total exports. The United States, Thailand, Australia, Japan, Spain, Cameroon, Cambodia, the United Arab Emirates, Nigeria and Indonesia lagged somewhat behind, together accounting for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aluminium alloy plate, sheet and strip of thickness over X mm exported from South Korea were China ($X), Vietnam ($X) and the United States ($X), together comprising X% of total exports. These countries were followed by India, Japan, Australia, Cameroon, Spain, Thailand, Nigeria, Indonesia, the United Arab Emirates and Cambodia, which together accounted for a further X, with a CAGR of +X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for aluminium alloy plates, sheets and strip of thickness over X mm amounted to $X per ton, jumping by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; afterwards, it flattened through to 2021.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm

Imports into Republic of Korea

After four years of growth, supplies from abroad of aluminium alloy plates, sheets and strip of thickness over X mm decreased by -X% to X tons in 2021. In general, imports, however, showed a prominent increase. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at X tons in 2020, and then declined modestly in the following year.

In value terms, imports of aluminium alloy plates, sheets and strip of thickness over X mm expanded sharply to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of aluminium alloy plate, sheet and strip of thickness over X mm to South Korea, accounting for a X% share of total imports. Moreover, imports of aluminium alloy plates, sheets and strip of thickness over X mm from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and the United States (-X% per year).

In value terms, China ($X) constituted the largest supplier of aluminium alloy plate, sheet and strip of thickness over X mm to South Korea, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with an X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-X% per year) and Thailand (+X% per year).

Import Prices by Country

The average import price for aluminium alloy plates, sheets and strip of thickness over X mm stood at $X per ton in 2021, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a slight setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably countryorigin: the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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