Republic of Korea: Chemical Wood Pulp Market 2024

Chemical Wood Pulp Market Size in Republic of Korea

In 2022, the South Korean chemical wood pulp market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Chemical Wood Pulp Production in Republic of Korea

In value terms, chemical wood pulp production reduced to $X in 2022 estimated in export price. In general, production recorded a noticeable decline. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

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Chemical Wood Pulp Exports

Exports from Republic of Korea

In 2022, overseas shipments of chemical wood pulp decreased by X% to X tons, falling for the second consecutive year after five years of growth. In general, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, chemical wood pulp exports contracted to $X in 2022. Over the period under review, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced in the following year.

Exports by Country

China (X tons) was the main destination for chemical wood pulp exports from South Korea, accounting for a X% share of total exports. Moreover, chemical wood pulp exports to China exceeded the volume sent to the second major destination, Japan (X tons), twofold.

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

In value terms, China ($X) remains the key foreign market for chemical wood pulp exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Thailand (X% per year).

Export Prices by Country

The average chemical wood pulp export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chemical wood pulp export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chemical Wood Pulp Imports

Imports into Republic of Korea

In 2022, overseas purchases of chemical wood pulp were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, chemical wood pulp imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), Indonesia (X tons) and Chile (X tons) were the main suppliers of chemical wood pulp imports to South Korea, with a combined X% share of total imports. Uruguay, Canada, the United States, Russia, New Zealand, Japan and Finland lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Indonesia ($X) and Chile ($X) were the largest chemical wood pulp suppliers to South Korea, together accounting for X% of total imports. Canada, Uruguay, the United States, Russia, New Zealand, Finland and Japan lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Uruguay, with a CAGR of X%, saw 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 chemical wood pulp import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Finland ($X per ton), while the price for Japan ($X per ton) and Brazil ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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