Republic of Korea: Market for Compounds, Inorganic Or Organic, Of Mercury, Chemically Defined As Mercury (Excluding Amalgams) 2024

Market Size for Compounds, Inorganic Or Organic, Of Mercury, Chemically Defined As Mercury (Excluding Amalgams) in Republic of Korea

The South Korean market for compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) expanded sharply to $X in 2023, picking up by X% against the previous year. Overall, consumption continues to indicate a significant increase. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Production of Compounds, Inorganic Or Organic, Of Mercury, Chemically Defined As Mercury (Excluding Amalgams) in Republic of Korea

In value terms, production of compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) expanded remarkably to $X in 2023 estimated in export price. In general, production posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Production of peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Compounds, Inorganic Or Organic, Of Mercury, Chemically Defined As Mercury (Excluding Amalgams)

Exports from Republic of Korea

In 2023, after two years of decline, there was growth in overseas shipments of compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams), when their volume increased by X% to X kg. In general, exports, however, faced a sharp curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, exports of compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) fell to $X in 2023. Over the period under review, exports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at $X in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X kg) was the main destination for exports of compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) from South Korea, accounting for a X% share of total exports. Moreover, exports of compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) to Thailand exceeded the volume sent to the second major destination, Vietnam (X kg), more than tenfold. Taiwan (Chinese) (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Thailand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Thailand ($X) remains the key foreign market for compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Thailand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average export price for compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the export price, however, saw a significant expansion. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

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

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

Imports of Compounds, Inorganic Or Organic, Of Mercury, Chemically Defined As Mercury (Excluding Amalgams)

Imports into Republic of Korea

In 2023, after two years of growth, there was significant decline in overseas purchases of compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams), when their volume decreased by X% to X kg. Overall, imports, however, saw significant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2022, and then reduced notably in the following year.

In value terms, imports of compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) shrank sharply to $X in 2023. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2022, and then shrank sharply in the following year.

Imports by Country

China (X kg), India (X kg) and Germany (X kg) were the main suppliers of imports of compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) to South Korea, together accounting for X% of total imports.

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

In value terms, the largest compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) suppliers to South Korea were China ($X), India ($X) and Germany ($X), together comprising X% of total imports. Switzerland, Israel, Belgium and Japan lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Israel, with a CAGR of X%, saw the highest growth rate of 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 import price for compounds, inorganic or organic, of mercury, chemically defined as mercury (excluding amalgams) amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2016 an increase of X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Israel ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform