Report Update Apr 1, 2024

Republic of Korea - Peat - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Peat Market 2024

Peat Market Size in Republic of Korea

The South Korean peat market soared to $X in 2022, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a prominent increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Peat Exports

Exports from Republic of Korea

In 2022, approx. X tons of peat were exported from South Korea; declining by X% compared with 2021. Overall, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, peat exports declined notably to $X in 2022. Over the period under review, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons), Japan (X tons) and Mongolia (X tons) were the main destinations of peat exports from South Korea, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced a decline.

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

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

Export Prices by Country

The average peat export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Singapore ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Peat Imports

Imports into Republic of Korea

In 2022, imports of peat into South Korea soared to X tons, picking up by X% against 2021 figures. Overall, total imports indicated buoyant growth from 2012 to 2022: its volume 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, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, peat imports surged to $X in 2022. In general, imports saw a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Latvia (X tons) constituted the largest peat supplier to South Korea, with a X% share of total imports. Moreover, peat imports from Latvia exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. Estonia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Latvia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Estonia (X% per year).

In value terms, Latvia ($X) constituted the largest supplier of peat to South Korea, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Latvia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Lithuania (X% per year).

Import Prices by Country

In 2022, the average peat import price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for peat in the world?

The country with the largest volume of peat consumption was Finland, comprising approx. 26% of total volume. Moreover, peat consumption in Finland exceeded the figures recorded by the second-largest consumer, Sweden, fourfold. The third position in this ranking was held by Germany, with a 6.2% share.

What are the largest producers of peat in the world?

Finland remains the largest peat producing country worldwide, comprising approx. 27% of total volume. Moreover, peat production in Finland exceeded the figures recorded by the second-largest producer, Germany, fourfold. Sweden ranked third in terms of total production with a 7.3% share.

What are the leading suppliers of peat to Republic of Korea?

In value terms, Latvia constituted the largest supplier of peat to South Korea, comprising 55% of total imports. The second position in the ranking was held by Russia, with a 10% share of total imports. It was followed by Lithuania, with a 7.7% share.

What are the leading importers of peat from Republic of Korea?

In value terms, Japan remains the key foreign market for peat exports from South Korea, comprising 63% of total exports. The second position in the ranking was held by Mongolia, with a 19% share of total exports. It was followed by Indonesia, with a 15% share.

What is the average export price for peat in Republic of Korea?

The average peat export price stood at $1,928 per ton in 2022, increasing by 27% against the previous year.

What is the average import price for peat in Republic of Korea?

The average peat import price stood at $230 per ton in 2022, picking up by 23% against the previous year.

This report provides an in-depth analysis of the peat market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023