Republic of Korea: Enamels And Glazes Market 2024

Enamels And Glazes Market Size in Republic of Korea

The South Korean enamels and glazes market contracted markedly to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a notable increase. Enamels and glazes consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Enamels And Glazes Exports

Exports from Republic of Korea

In 2022, approx. X tons of vitrifiable enamels and glazes for ceramics, enamelling or glass were exported from South Korea; shrinking by X% against 2021 figures. In general, exports recorded a noticeable descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, enamels and glazes exports reduced dramatically to $X in 2022. Over the period under review, exports showed a deep reduction. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand (X tons) was the main destination for enamels and glazes exports from South Korea, with a X% share of total exports. Moreover, enamels and glazes exports to Thailand exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.

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

In value terms, Thailand ($X), Malaysia ($X) and Vietnam ($X) appeared to be the largest markets for enamels and glazes exported from South Korea worldwide, together accounting for X% of total exports.

Malaysia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average enamels and glazes export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price showed a slight curtailment. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%), while the prices for the other major destinations experienced a decline.

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Enamels And Glazes Imports

Imports into Republic of Korea

In 2022, approx. X tons of vitrifiable enamels and glazes for ceramics, enamelling or glass were imported into South Korea; declining by X% compared with the previous year's figure. Over the period under review, imports, however, showed notable growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, enamels and glazes imports fell sharply to $X in 2022. Overall, imports recorded a slight reduction. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), China (X tons) and Thailand (X tons) were the main suppliers of enamels and glazes 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 Thailand (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), China ($X) and Spain ($X) were the largest enamels and glazes suppliers to South Korea, together accounting for X% of total imports. Thailand and Italy lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Thailand, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average enamels and glazes import price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price saw a perceptible contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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