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Republic of Korea - Aluminium - Market Analysis, Forecast, Size, Trends And Insights
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Republic of Korea: Aluminium Market Overview 2021

Aluminium Market Size in Republic of Korea

The South Korean aluminium market shrank to $X in 2019, with a decrease of -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, the market hit record highs at $X in 2011; however, from 2012 to 2019, consumption failed to regain the momentum.

Aluminium Exports

Exports from Republic of Korea

For the fourth consecutive year, South Korea recorded growth in shipments abroad of aluminium, which increased by X% to X tonnes in 2019. Over the period under review, exports recorded prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. Over the period under review, exports hit record highs in 2019 and are expected to retain growth in the immediate term.

In value terms, aluminium exports declined to $X in 2019. In general, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% y-o-y. As a result, exports attained the peak of $X, and then fell in the following year.

Exports by Country

Viet Nam (X tonnes) was the main destination for aluminium exports from South Korea, accounting for a X% share of total exports. Moreover, aluminium exports to Viet Nam exceeded the volume sent to the second major destination, China (X tonnes), threefold. The U.S. (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to Viet Nam stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and the U.S. (+X% per year).

In value terms, Viet Nam ($X) emerged as the key foreign market for aluminium exports from South Korea, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Viet Nam stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (+X% per year) and India (+X% per year).

Export Prices by Country

In 2019, the average aluminium export price amounted to $X per tonne, falling by -X% against the previous year. Overall, the export price recorded a mild reduction. The pace of growth appeared the most rapid in 2010 an increase of X% y-o-y. The export price peaked at $X per tonne in 2014; however, from 2015 to 2019, export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2019, the highest prices were recorded for prices to the U.S. ($X per tonne) and India ($X per tonne), while the average price for exports to China ($X per tonne) and Japan ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to India, while the prices for the other major destinations experienced a decline.

Aluminium Imports

Imports into Republic of Korea

After two years of decline, supplies from abroad of aluminium increased by X% to X tonnes in 2019. The total import volume increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2010 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at X tonnes in 2016; however, from 2017 to 2019, imports failed to regain the momentum.

In value terms, aluminium imports declined to $X in 2019. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Imports peaked at $X in 2011; however, from 2012 to 2019, imports remained at a lower figure.

Imports by Country

India (X tonnes), Australia (X tonnes) and Malaysia (X tonnes) were the main suppliers of aluminium imports to South Korea, together accounting for X% of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Australia ($X) and Malaysia ($X) constituted the largest aluminium suppliers to South Korea, together comprising X% of total imports.

Malaysia (+X% per year) saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average aluminium import price amounted to $X per tonne, reducing by -X% against the previous year. In general, the import price showed a noticeable setback. The pace of growth was the most pronounced in 2010 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per tonne in 2008; however, from 2009 to 2019, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the highest prices were recorded for prices from New Zealand ($X per tonne) and Qatar ($X per tonne), while the price for Russia ($X per tonne) and the United Arab Emirates ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Qatar, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for aluminium in the world?
+
China (36M tonnes) constituted the country with the largest volume of aluminium consumption, accounting for 54% of total volume. Moreover, aluminium consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (4.2M tonnes), ninefold. The third position in this ranking was occupied by India (2.8M tonnes), with a 4.2% share.
What are the largest producers of aluminium in the world?
+
China (36M tonnes) constituted the country with the largest volume of aluminium production, comprising approx. 55% of total volume. Moreover, aluminium production in China exceeded the figures recorded by the second-largest producer, India (4.5M tonnes), eightfold. The third position in this ranking was occupied by Russia (3.6M tonnes), with a 5.4% share.
What are the leading suppliers of aluminium to Republic of Korea?
+
In value terms, India ($816M), Australia ($632M) and Malaysia ($303M) constituted the largest aluminium suppliers to South Korea, with a combined 59% share of total imports.
What are the leading importers of aluminium from Republic of Korea?
+
In value terms, Viet Nam ($154M) emerged as the key foreign market for aluminium exports from South Korea, comprising 33% of total exports. The second position in the ranking was occupied by the U.S. ($44M), with a 9.3% share of total exports. It was followed by India, with a 8.1% share.
What is the average export price for aluminium in Republic of Korea?
+
In 2019, the average aluminium export price amounted to $2,079 per tonne, reducing by -14.2% against the previous year.
What is the average import price for aluminium in Republic of Korea?
+
The average aluminium import price stood at $1,952 per tonne in 2019, with a decrease of -14% against the previous year.

Product coverage:

This report provides an in-depth analysis of the aluminium 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 2025.


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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007–2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2019
Figure 5:
Trade Balance, In Physical Terms, 2007–2019
Figure 6:
Trade Balance, In Value Terms, 2007–2019
Figure 7:
Per Capita Consumption, 2007–2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2019
Figure 21:
Production, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, 2007–2019
Figure 23:
Imports, In Value Terms, 2007–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2007–2019
Figure 26:
Imports, In Value Terms, By Country, 2007–2019
Figure 27:
Import Prices, By Country Of Origin, 2007–2019
Figure 28:
Exports, In Physical Terms, 2007–2019
Figure 29:
Exports, In Value Terms, 2007–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2007–2019
Figure 32:
Exports, In Value Terms, By Country, 2007–2019
Figure 33:
Export Prices, By Country Of Destination, 2007–2019

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