Republic of Korea: Base Metal Keys Market 2024

Base Metal Keys Market Size in Republic of Korea

The South Korean base metal keys market declined to $X in 2022, waning by X% against the previous year. In general, consumption recorded a perceptible decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Base Metal Keys Production in Republic of Korea

In value terms, base metal keys production dropped to $X in 2022 estimated in export price. Overall, production recorded a slight decrease. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Base metal keys production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Base Metal Keys Exports

Exports from Republic of Korea

In 2022, approx. X tons of base metal keys were exported from South Korea; with an increase of X% against the year before. Overall, exports showed pronounced growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, base metal keys exports skyrocketed to $X in 2022. In general, exports continue to indicate a perceptible expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X tons), India (X tons) and Poland (X tons) were the main destinations of base metal keys exports from South Korea, together accounting for X% of total exports. Indonesia, the Czech Republic, China, the United Arab Emirates and Turkey lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for base metal keys exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual growth rate of value to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Poland (X% per year).

Export Prices by Country

The average base metal keys export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X 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 Turkey ($X per ton), while the average price for exports to China ($X 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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Keys Imports

Imports into Republic of Korea

In 2022, purchases abroad of base metal keys was finally on the rise to reach X tons after four years of decline. Overall, imports, however, showed a perceptible setback. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, base metal keys imports soared to $X in 2022. In general, imports, however, continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of base metal keys to South Korea, with a X% share of total imports. It was followed by Japan (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Mexico (X% per year).

In value terms, China ($X) constituted the largest supplier of base metal keys to South Korea, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average base metal keys import price amounted to $X per ton, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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