Republic of Korea: Colloidal Precious Metals Market 2024

Colloidal Precious Metals Market Size in Republic of Korea

The South Korean colloidal precious metals market expanded slightly to $X in 2023, with an increase of X% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Colloidal Precious Metals Production in Republic of Korea

In value terms, colloidal precious metals production expanded significantly to $X in 2023 estimated in export price. In general, production, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Colloidal Precious Metals Exports

Exports from Republic of Korea

Colloidal precious metals exports from South Korea skyrocketed to X tons in 2023, jumping by X% against the previous year. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.

In value terms, colloidal precious metals exports reduced slightly to $X in 2023. Overall, exports saw a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then shrank modestly in the following year.

Exports by Country

Malaysia (X tons) was the main destination for colloidal precious metals exports from South Korea, with a X% share of total exports. It was followed by China (X kg), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the Philippines (X% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and China (X% per year).

Export Prices by Country

The average colloidal precious metals export price stood at $X per kg in 2023, which is down by X% against the previous year. In general, the export price recorded a pronounced downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per kg. From 2022 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per kg), while the average price for exports to Malaysia ($X per kg) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Colloidal Precious Metals Imports

Imports into Republic of Korea

In 2023, imports of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) into South Korea soared to X tons, picking up by X% compared with the previous year. In general, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, colloidal precious metals imports rose remarkably to $X in 2023. Over the period under review, total imports indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2015 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2023, imports remained at a lower figure.

Imports by Country

The United States (X tons), Germany (X tons) and Peru (X tons) were the main suppliers of colloidal precious metals imports to South Korea, with a combined X% share of total imports. Japan, China, Chile and Mexico lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest colloidal precious metals suppliers to South Korea were Germany ($X), the United States ($X) and Japan ($X), together comprising X% of total imports. Peru, China, Chile and Mexico lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average colloidal precious metals import price amounted to $X per kg, reducing by X% against the previous year. In general, the import price, however, recorded a resilient increase. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked at $X per kg in 2022, and then shrank markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per kg), while the price for Peru ($X per kg) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform