Republic of Korea: Market for Wood Pulp, Excluding Mechanical Wood Pulp 2024

Market Size for Wood Pulp, Excluding Mechanical Wood Pulp in Republic of Korea

In 2022, the South Korean market for wood pulp, excluding mechanical wood pulp increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Wood Pulp, Excluding Mechanical Wood Pulp in Republic of Korea

In value terms, production of wood pulp, excluding mechanical wood pulp reached $X in 2022 estimated in export price. Over the period under review, production showed a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Production of peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Wood Pulp, Excluding Mechanical Wood Pulp

Exports from Republic of Korea

In 2022, overseas shipments of wood pulp, excluding mechanical wood pulp decreased by X% to X tons, falling for the second consecutive year after five years of growth. In general, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of wood pulp, excluding mechanical wood pulp fell to $X in 2022. Overall, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

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

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Thailand (X% per year).

In value terms, China ($X) remains the key foreign market for wood pulp, excluding mechanical wood pulp exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Thailand (X% per year).

Export Prices by Country

The average export price for wood pulp, excluding mechanical wood pulp stood at $X per ton in 2022, jumping by X% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for wood pulp, excluding mechanical wood pulp increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Japan ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Pulp, Excluding Mechanical Wood Pulp

Imports into Republic of Korea

In 2022, overseas purchases of wood pulp, excluding mechanical wood pulp increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, continue to indicate a slight descent. Over the period under review, imports of hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of wood pulp, excluding mechanical wood pulp surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X tons), Canada (X tons) and Indonesia (X tons) were the main suppliers of imports of wood pulp, excluding mechanical wood pulp to South Korea, together comprising X% of total imports. Chile, Uruguay, the United States, Russia and New Zealand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uruguay (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest wood pulp, excluding mechanical wood pulp suppliers to South Korea were Brazil ($X), Canada ($X) and Indonesia ($X), with a combined X% share of total imports. Chile, the United States, Uruguay, Russia and New Zealand lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Uruguay, 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 2022, the average import price for wood pulp, excluding mechanical wood pulp amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and New Zealand ($X per ton), while the price for Brazil ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

From 2012 to 2022, 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

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