Republic of Korea: Market for Granules, Chippings And Powder Of Marble 2023

Market Size for Granules, Chippings And Powder Of Marble in Republic of Korea

The South Korean marble granules and powder market rose sharply to $X in 2021, surging by 9.5% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Granules, Chippings And Powder Of Marble in Republic of Korea

In value terms, marble granules and powder production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 31%. Marble granules and powder production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Granules, Chippings And Powder Of Marble

Exports from Republic of Korea

For the fourth consecutive year, South Korea recorded decline in shipments abroad of granules, chippings and powder of marble, which decreased by -67.8% to X tons in 2021. Over the period under review, exports saw a abrupt descent. The pace of growth was the most pronounced in 2014 with an increase of 194%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, marble granules and powder exports contracted markedly to $X in 2021. In general, exports continue to indicate a sharp downturn. The pace of growth was the most pronounced in 2014 with an increase of 190% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Honduras (X tons) was the main destination for marble granules and powder exports from South Korea, with a 63% share of total exports. Moreover, marble granules and powder exports to Honduras exceeded the volume sent to the second major destination, Singapore (X tons), twofold. The third position in this ranking was held by Vietnam (X tons), with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Honduras was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+73.7% per year) and Vietnam (-13.5% per year).

In value terms, Honduras ($X) remains the key foreign market for granules, chippings and powder of marble exports from South Korea, comprising 60% of total exports. The second position in the ranking was taken by Singapore ($X), with a 25% share of total exports. It was followed by Vietnam, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value to Honduras was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+26.2% per year) and Vietnam (-14.0% per year).

Export Prices by Country

In 2021, the average marble granules and powder export price amounted to $X per ton, growing by 29% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 48%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Philippines ($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 China (+44.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Granules, Chippings And Powder Of Marble

Imports into Republic of Korea

In 2021, overseas purchases of granules, chippings and powder of marble decreased by -3.5% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 952% against the previous year. Imports peaked at X tons in 2020, and then reduced modestly in the following year.

In value terms, marble granules and powder imports dropped to $X in 2021. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 480%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of marble granules and powder to South Korea, accounting for a 6% share of total imports. Moreover, marble granules and powder imports from Vietnam exceeded the figures recorded by the second-largest supplier, China (X tons), tenfold. Norway (X tons) ranked third in terms of total imports with a 0.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Vietnam amounted to +57.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.8% per year) and Norway (+42.4% per year).

In value terms, Vietnam ($X) constituted the largest supplier of granules, chippings and powder of marble to South Korea, comprising 6.1% of total imports. The second position in the ranking was taken by China ($X), with a 1.2% share of total imports. It was followed by India, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value from Vietnam stood at +59.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.1% per year) and India (+91.1% per year).

Import Prices by Country

In 2021, the average marble granules and powder import price amounted to $X per ton, reducing by -7.9% against the previous year. In general, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 41% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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