Republic of Korea: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Republic of Korea

The South Korean non-rolled bitumen products market contracted to $X in 2022, declining by X% against the previous year. Over the period under review, consumption continues to indicate a abrupt contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Non-Rolled Bitumen Products Production in Republic of Korea

In value terms, non-rolled bitumen products production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. Non-rolled bitumen products production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Non-Rolled Bitumen Products Exports

Exports from Republic of Korea

In 2022, approx. X tons of non-rolled bitumen products were exported from South Korea; picking up by X% on 2021 figures. In general, total exports indicated a notable expansion 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, exports increased by X% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-rolled bitumen products exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value 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, exports increased by X% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for non-rolled bitumen products exports from South Korea, with a X% share of total exports. Moreover, non-rolled bitumen products exports to Japan exceeded the volume sent to the second major destination, Thailand (X tons), eightfold. The third position in this ranking was held by the Philippines (X tons), with a X% share.

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

In value terms, Japan ($X) remains the key foreign market for non-rolled bitumen products exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

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

Export Prices by Country

The average non-rolled bitumen products export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while the average price for exports to Malaysia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, 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.

Non-Rolled Bitumen Products Imports

Imports into Republic of Korea

For the fourth consecutive year, South Korea recorded decline in supplies from abroad of non-rolled bitumen products, which decreased by X% to X tons in 2022. Over the period under review, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, non-rolled bitumen products imports dropped remarkably to $X in 2022. In general, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Japan (X tons) and China (X tons) were the main suppliers of non-rolled bitumen products imports to South Korea, with a combined X% share of total imports.

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

In value terms, Japan ($X), Indonesia ($X) and China ($X) constituted the largest non-rolled bitumen products suppliers to South Korea, with a combined X% share of total imports.

In terms of the main suppliers, Japan, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average non-rolled bitumen products import price 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%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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