Report Update Apr 1, 2024

Republic of Korea - Silver Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Silver Ore Market 2024

Silver Ore Market Size in Republic of Korea

In 2021, the South Korean silver ore market increased by 9.1% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, saw a perceptible downturn. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Silver Ore Production in Republic of Korea

In value terms, silver ore production reduced to $X in 2021 estimated in export price. In general, production, however, enjoyed a resilient increase. The growth pace was the most rapid in 2015 with an increase of 34%. Silver ore production peaked at $X in 2020, and then contracted in the following year.

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Silver Ore Exports

Exports from Republic of Korea

Silver ore exports from South Korea soared to X tons in 2021, rising by 87% compared with 2020 figures. Over the period under review, exports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2014 with an increase of 10,576%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, silver ore exports soared to $X in 2021. Overall, exports showed strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 12,600%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for silver ore exports from South Korea, accounting for a 98% share of total exports. It was followed by Vietnam (X kg), with a 1.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -9.0%.

In value terms, China ($X) remains the key foreign market for silver ore exports from South Korea, comprising 94% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 6.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China amounted to +12.6%.

Export Prices by Country

In 2021, the average silver ore export price amounted to $X per ton, rising by 39% against the previous year. Over the period under review, the export price recorded a significant expansion. The most prominent rate of growth was recorded in 2015 an increase of 69%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+3,153.5%).

Silver Ore Imports

Imports into Republic of Korea

In 2021, after three years of decline, there was significant growth in supplies from abroad of silver ores and concentrates, when their volume increased by 26% to X tons. Over the period under review, imports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2014 when imports increased by 136%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, silver ore imports rose to $X in 2021. Overall, imports, however, recorded a perceptible reduction. The growth pace was the most rapid in 2017 when imports increased by 30% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Mexico (X tons), Argentina (X tons) and Peru (X tons) were the main suppliers of silver ore imports to South Korea, with a combined 68% share of total imports. These countries were followed by Honduras, the United States, Brazil, Uruguay and Bolivia, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were in Honduras (with a CAGR of +87.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silver ore suppliers to South Korea were Argentina ($X), Mexico ($X) and Peru ($X), with a combined 77% share of total imports. The United States, Honduras, Uruguay, Brazil and Bolivia lagged somewhat behind, together accounting for a further 22%.

Among the main suppliers, Honduras, with a CAGR of +50.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silver ore import price stood at $X per ton in 2021, which is down by -17.7% against the previous year. Over the period under review, the import price, however, recorded a pronounced increase. The growth pace was the most rapid in 2013 when the average import price increased by 89%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Peru ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+19.6%), while the prices for the other major suppliers experienced mixed trend patterns.

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Frequently Asked Questions (FAQ) :

What are the largest markets for silver ores and concentrates in the world?

China remains the largest silver ore consuming country worldwide, accounting for 83% of total volume. It was followed by Russia, with a 2.7% share of total consumption.

What are the largest producers of silver ores and concentrates in the world?

The countries with the highest volumes of production in 2021 were Peru, Mexico and Argentina, with a combined 80% share of global production. These countries were followed by Russia, South Africa, Bolivia and the Netherlands, which together accounted for a further 14%.

What are the leading suppliers of silver ores and concentrates to Republic of Korea?

In value terms, Argentina, Mexico and Peru constituted the largest silver ore suppliers to South Korea, together comprising 77% of total imports. The United States, Honduras, Uruguay, Brazil and Bolivia lagged somewhat behind, together comprising a further 22%.

What are the leading importers of silver ores and concentrates from Republic of Korea?

In value terms, China remains the key foreign market for silver ore exports from South Korea, comprising 94% of total exports. The second position in the ranking was held by Vietnam, with a 6.3% share of total exports.

What is the average export price for silver ores and concentrates in Republic of Korea?

In 2021, the average silver ore export price amounted to $31,236 per ton, jumping by 39% against the previous year.

What is the average import price for silver ores and concentrates in Republic of Korea?

In 2021, the average silver ore import price amounted to $28,344 per ton, falling by -17.7% against the previous year.

This report provides an in-depth analysis of the silver ore 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:

Prodcom 07291410 -

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

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

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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