Republic of Korea: Kaolin Market 2024

Kaolin Market Size in Republic of Korea

After two years of growth, the South Korean kaolin market decreased by X% to $X in 2023. Over the period under review, consumption showed a pronounced downturn. Kaolin consumption peaked at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Kaolin Production in Republic of Korea

In value terms, kaolin production declined to $X in 2023 estimated in export price. In general, production showed a noticeable decrease. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2023, production growth remained at a somewhat lower figure.

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Kaolin Exports

Exports from Republic of Korea

In 2023, approx. X tons of kaolin and kaolinic clays were exported from South Korea; surging by X% compared with 2022 figures. Overall, exports, however, continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, kaolin exports stood at $X in 2023. Over the period under review, exports enjoyed mild growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for kaolin exports from South Korea, with a X% share of total exports. Moreover, kaolin exports to Japan exceeded the volume sent to the second major destination, China (X tons), twofold. Vietnam (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Vietnam (X% per year).

In value terms, the largest markets for kaolin exported from South Korea were Japan ($X), China ($X) and Vietnam ($X), together accounting for X% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average kaolin export price amounted to $X per ton, falling by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Japan ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Kaolin Imports

Imports into Republic of Korea

After two years of growth, purchases abroad of kaolin and kaolinic clays decreased by X% to X tons in 2023. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, kaolin imports contracted to $X in 2023. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2022, and then dropped in the following year.

Imports by Country

The United States (X tons), China (X tons) and India (X tons) were the main suppliers of kaolin imports to South Korea, together accounting for X% of total imports.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of kaolin and kaolinic clays to South Korea, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2023, the average kaolin import price amounted to $X per ton, dropping by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then reduced in the following year.

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

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

Source: IndexBox Platform