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Latest Report Update: Jan 18, 2020

Republic of Korea - Salt - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact

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Republic of Korea: Salt Market Overview 2020

Salt Market Size in Republic of Korea

The revenue of the salt market in South Korea amounted to $X in 2018, coming down by -X% against the previous year. Overall, salt consumption continues to indicate a drastic shrinkage. The growth pace was the most rapid in 2012 when the market value increased by X% against the previous year. Salt consumption peaked at $X in 2010; however, from 2011 to 2018, consumption failed to regain its momentum.

Salt Production in Republic of Korea

In value terms, salt production amounted to $X in 2018 estimated in export prices. Over the period under review, salt production continues to indicate a drastic drop. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Salt production peaked at $X in 2013; however, from 2014 to 2018, production failed to regain its momentum.

Salt Exports

Exports from Republic of Korea

In 2018, approx. X tonnes of salt and pure sodium chloride were exported from South Korea; jumping by X% against the previous year. Over the period under review, salt exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% y-o-y. In that year, salt exports attained their peak and are likely to continue its growth in the immediate term.

In value terms, salt exports stood at $X in 2018. Over the period under review, the total exports indicated a mild increase from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, salt exports decreased by -X% against 2016 indices. The growth pace was the most rapid in 2013 when exports increased by X% year-to-year. In that year, salt exports attained their peak of $X. From 2014 to 2018, the growth of salt exports remained at a lower figure.

Exports by Country

Japan (X tonnes) was the main destination for salt exports from South Korea, accounting for a X% share of total exports. Moreover, salt exports to Japan exceeded the volume sent to the second major destination, the U.S. (X tonnes), more than tenfold. China (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2018, the average annual growth rate of volume to Japan amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (+X% per year) and China (+X% per year).

In value terms, the largest markets for salt exported from South Korea were the U.S. ($X), China ($X) and Japan ($X), with a combined X% share of total exports. These countries were followed by Malaysia, Micronesia (Federated States of), Kiribati and China, Hong Kong SAR, which together accounted for a further X, Hong Kong SAR recorded the highest rates of growth with regard to market size, among the main countries of destination over the period under review, while exports for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average salt export price amounted to $X per tonne, waning by -X% against the previous year. In general, the salt export price continues to indicate a drastic reduction. The most prominent rate of growth was recorded in 2008 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2013; however, from 2014 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Japan ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Micronesia (Federated States of), while the prices for the other major destinations experienced a decline.

Salt Imports

Imports into Republic of Korea

In 2018, the imports of salt and pure sodium chloride into South Korea amounted to X tonnes, coming down by -X% against the previous year. In general, salt imports continue to indicate a temperate deduction. The pace of growth appeared the most rapid in 2010 when imports increased by X% against the previous year. Imports peaked at X tonnes in 2013; however, from 2014 to 2018, imports stood at a somewhat lower figure.

In value terms, salt imports totaled $X in 2018. Overall, salt imports continue to indicate a deep contraction. The growth pace was the most rapid in 2012 with an increase of X% against the previous year. Imports peaked at $X in 2010; however, from 2011 to 2018, imports stood at a somewhat lower figure.

Imports by Country

Australia (X tonnes), India (X tonnes) and Mexico (X tonnes) were the main suppliers of salt imports to South Korea, together comprising X% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by India, while imports for the other leaders experienced a decline.

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

Among the main suppliers, India recorded the highest rates of growth with regard to market size, over the period under review, while imports for the other leaders experienced a decline.

Import Prices by Country

The average salt import price stood at $X per tonne in 2018, dropping by -X% against the previous year. Overall, the salt import price continues to indicate an abrupt contraction. The most prominent rate of growth was recorded in 2012 when the average import price increased by X% y-o-y. The import price peaked at $X per tonne in 2010; however, from 2011 to 2018, import prices failed to regain their momentum.

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

From 2007 to 2018, 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

Product coverage:
• Prodcom 08931000 - Salt (including denatured salt but excluding salt suitable for human consumption) and pure sodium chloride, whether or not in aqueous solution or containing added anti-caking or free-flowing agents
• Prodcom 10843000 - Salt suitable for human consumption

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.


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

2.1
KEY FINDINGS
2.2
MARKET TRENDS
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 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
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 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007–2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2019
Figure 5:
Trade Balance, In Physical Terms, 2007–2019
Figure 6:
Trade Balance, In Value Terms, 2007–2019
Figure 7:
Per Capita Consumption, 2007–2019
Figure 8:
Market Forecast To 2025
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, 2007–2019
Figure 21:
Production, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, 2007–2019
Figure 23:
Imports, In Value Terms, 2007–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2007–2019
Figure 26:
Imports, In Value Terms, By Country, 2007–2019
Figure 27:
Import Prices, By Country Of Origin, 2007–2019
Figure 28:
Exports, In Physical Terms, 2007–2019
Figure 29:
Exports, In Value Terms, 2007–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2007–2019
Figure 32:
Exports, In Value Terms, By Country, 2007–2019
Figure 33:
Export Prices, By Country Of Destination, 2007–2019

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