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Report Republic of Korea - Salt - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Jun 18, 2022

Republic of Korea - Salt - Market Analysis, Forecast, Size, Trends and Insights
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Republic of Korea: Salt Market 2022

Salt Market Size in Republic of Korea

The South Korean salt market stood at $X in 2021, approximately reflecting the previous year. In general, consumption continues to indicate a mild decrease. Salt consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Salt Production in Republic of Korea

In value terms, salt production fell to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt slump. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Salt Exports

Exports from Republic of Korea

In 2021, approx. X tonnes of salt and pure sodium chloride were exported from South Korea; picking up by X% against the year before. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, salt exports expanded to $X in 2021. In general, exports saw a pronounced reduction. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Philippines (X tonnes), the United States (X tonnes) and Kiribati (X tonnes) were the main destinations of salt exports from South Korea, together comprising X% of total exports.

From 2012 to 2021, the biggest increases were in the Philippines (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

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

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-X% per year) and Japan (-X% per year).

Export Prices by Country

In 2021, the average salt export price amounted to $X per tonne, waning by -X% against the previous year. Over the period under review, the export price saw a abrupt setback. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. As a result, the export price attained the peak level of $X per tonne. From 2016 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Japan ($X per tonne), while the average price for exports to Kiribati ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Micronesia (-X%), while the prices for the other major destinations experienced a decline.

Salt Imports

Imports into Republic of Korea

After three years of growth, supplies from abroad of salt and pure sodium chloride decreased by -X% to X tonnes in 2021. In general, imports saw a slight decline. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tonnes in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, salt imports amounted to $X in 2021. Overall, imports showed a mild reduction. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Australia (X tonnes), India (X tonnes) and China (X tonnes) were the main suppliers of salt imports to South Korea, with a combined X% share of total imports.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, India ($X), Australia ($X) and China ($X) constituted the largest salt suppliers to South Korea, with a combined X% share of total imports.

India, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average salt import price stood at $X per tonne in 2021, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per tonne in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Mexico ($X per tonne), while the price for Australia ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tonnes

Frequently Asked Questions (FAQ) :

What are the largest markets for salt and pure sodium chloride in the world?
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The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 48% share of global consumption.
What are the largest producers of salt and pure sodium chloride in the world?
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The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 45% of global production. These countries were followed by Mexico, Germany, Australia, Canada, Chile, Brazil, France, Turkey, the Netherlands and the UK, which together accounted for a further 31%.
What are the leading suppliers of salt and pure sodium chloride to Republic of Korea?
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In value terms, the largest salt suppliers to South Korea were India, Australia and China, with a combined 86% share of total imports.
What are the leading importers of salt and pure sodium chloride from Republic of Korea?
+
In value terms, the United States remains the key foreign market for salt exports from South Korea, comprising 33% of total exports. The second position in the ranking was occupied by China, with a 15% share of total exports. It was followed by Japan, with a 14% share.
What is the average export price for salt and pure sodium chloride in Republic of Korea?
+
The average salt export price stood at $377 per tonne in 2021, which is down by -12.9% against the previous year.
What is the average import price for salt and pure sodium chloride in Republic of Korea?
+
In 2021, the average salt import price amounted to $60 per tonne, picking up by 3% against the previous year.

This report provides an in-depth analysis of the salt 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
• Find deeper insights into current market developments
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2012–2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012–2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012–2021
Figure 5:
Trade Balance, In Physical Terms, 2012–2021
Figure 6:
Trade Balance, In Value Terms, 2012–2021
Figure 7:
Per Capita Consumption, 2012–2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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