Republic of Korea: Lime Market Overview 2021

Lime Market Size in Republic of Korea

In 2019, the South Korean lime market increased by X% to $X, rising for the third year in a row after five years of decline. Over the period under review, consumption enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Lime consumption peaked at $X in 2011; however, from 2012 to 2019, consumption failed to regain the momentum.

Lime Exports

Exports from Republic of Korea

Lime exports from South Korea fell to X tonnes in 2019, which is down by -X% against the previous year's figure. In general, exports, however, posted a temperate increase. The most prominent rate of growth was recorded in 2008 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at X tonnes in 2009; however, from 2010 to 2019, exports remained at a lower figure.

In value terms, lime exports shrank to $X in 2019. Over the period under review, exports, however, showed a temperate increase. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. As a result, exports attained the peak of $X. From 2009 to 2019, the growth exports remained at a lower figure.

Exports by Country

Indonesia (X tonnes) was the main destination for lime exports from South Korea, accounting for a X% share of total exports. Moreover, lime exports to Indonesia exceeded the volume sent to the second major destination, China (X tonnes), eightfold. Viet Nam (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Indonesia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-X% per year) and Viet Nam (+X% per year).

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

From 2007 to 2019, the average annual growth rate of value to Indonesia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-X% per year) and Viet Nam (+X% per year).

Export Prices by Country

In 2019, the average lime export price amounted to $X per tonne, approximately mirroring 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 2008 when the average export price increased by X% against the previous year. The export price peaked at $X per tonne in 2013; however, from 2014 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per tonne), while the average price for exports to the Philippines ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to China, while the prices for the other major destinations experienced a decline.

Lime Imports

Imports into Republic of Korea

In 2019, overseas purchases of quicklime, slaked lime and hydraulic lime increased by X% to X tonnes, rising for the third consecutive year after five years of decline. In general, imports continue to indicate temperate growth. The growth pace was the most rapid in 2011 with an increase of X% year-to-year. As a result, imports reached the peak of X tonnes. From 2012 to 2019, the growth imports failed to regain the momentum.

In value terms, lime imports amounted to $X in 2019. Over the period under review, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2011 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Viet Nam (X tonnes) constituted the largest lime supplier to South Korea, with a X% share of total imports. Moreover, lime imports from Viet Nam exceeded the figures recorded by the second-largest supplier, Thailand (X tonnes), threefold. Malaysia (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Viet Nam totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and Malaysia (+X% per year).

In value terms, Viet Nam ($X) constituted the largest supplier of lime to South Korea, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2007 to 2019, the average annual growth rate of value from Viet Nam totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and Thailand (+X% per year).

Import Prices by Country

The average lime import price stood at $X per tonne in 2019, reducing by -X% against the previous year. Overall, import price indicated notable growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, lime import price increased by +X% against 2017 indices. The growth pace was the most rapid in 2009 an increase of X% against the previous year. The import price peaked at $X per tonne in 2018, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Japan ($X per tonne), while the price for Viet Nam ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for quicklime, slaked lime and hydraulic lime in the world?

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The countries with the highest volumes of lime consumption in 2019 were China (47M tonnes), Japan (25M tonnes) and the U.S. (15M tonnes), together accounting for 46% of global consumption.

What are the largest producers of quicklime, slaked lime and hydraulic lime in the world?

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The countries with the highest volumes of lime production in 2019 were China (47M tonnes), Japan (25M tonnes) and the U.S. (15M tonnes), with a combined 46% share of global production. These countries were followed by Indonesia, Brazil, Germany, Pakistan, Turkey, Mexico, Italy, Viet Nam, Russia and Iran, which together accounted for a further 27%.

What are the leading suppliers of quicklime, slaked lime and hydraulic lime to Republic of Korea?

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In value terms, Viet Nam ($3.8M) constituted the largest supplier of lime to South Korea, comprising 39% of total imports. The second position in the ranking was occupied by Malaysia ($1.7M), with a 17% share of total imports. It was followed by Thailand, with a 15% share.

What are the leading importers of quicklime, slaked lime and hydraulic lime from Republic of Korea?

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In value terms, Indonesia ($135K) remains the key foreign market for lime exports from South Korea, comprising 74% of total exports. The second position in the ranking was occupied by China ($41K), with a 22% share of total exports. It was followed by Viet Nam, with a 2% share.

What is the average export price for quicklime, slaked lime and hydraulic lime in Republic of Korea?

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In 2019, the average lime export price amounted to $200 per tonne, flattening at the previous year.

What is the average import price for quicklime, slaked lime and hydraulic lime in Republic of Korea?

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In 2019, the average lime import price amounted to $122 per tonne, which is down by -7% against the previous year.