Republic of Korea: Wood Pulp Market 2022

Wood Pulp Market Size in Republic of Korea

In 2021, after two years of decline, there was significant growth in the South Korean wood pulp market, when its value increased by X% to $X. Over the period under review, consumption, however, recorded a pronounced decline. Wood pulp consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Wood Pulp Production in Republic of Korea

In value terms, wood pulp production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of X%. Wood pulp production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Wood Pulp Exports

Exports from Republic of Korea

In 2021, after four years of growth, there was significant decline in shipments abroad of wood pulp, when their volume decreased by -X% to X tons. In general, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then shrank sharply in the following year.

In value terms, wood pulp exports dropped to $X in 2021. Over the period under review, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for wood pulp exports from South Korea, accounting for a X% share of total exports. Moreover, wood pulp exports to China exceeded the volume sent to the second major destination, Japan (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+X% per year) and Vietnam (+X% per year).

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

From 2012 to 2021, the average annual growth rate of value to China totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+X% per year) and Vietnam (+X% per year).

Export Prices by Country

In 2021, the average wood pulp export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price, however, recorded a noticeable decline. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Pulp Imports

Imports into Republic of Korea

In 2021, the amount of wood pulp imported into South Korea expanded slightly to X tons, increasing by X% compared with the previous year's figure. Over the period under review, imports, however, saw a mild decline. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, wood pulp imports skyrocketed to $X in 2021. Overall, imports, however, recorded a pronounced setback. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X tons), Canada (X tons) and Indonesia (X tons) were the main suppliers of wood pulp imports to South Korea, with a combined X% share of total imports. Chile, the United States, Uruguay and Russia lagged somewhat behind, together comprising a further X 2012 to 2021, the biggest increases were in Uruguay (with a CAGR of +X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest wood pulp suppliers to South Korea were Canada ($X), Brazil ($X) and Chile ($X), together accounting for X% of total imports. These countries were followed by Indonesia, the United States, Uruguay and Russia, which together accounted for a further X the main suppliers, Uruguay, with a CAGR of +X%, saw the highest rates of growth with regard to 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 wood pulp import price stood at $X per ton in 2021, surging by X% against the previous year. In general, the import price, however, continues to indicate a mild descent. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were the United States ($X per ton) and Chile ($X per ton), while the price for Indonesia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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