Report Update Apr 1, 2024

Republic of Korea - Zinc - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Zinc Market 2024

Zinc Market Size in Republic of Korea

The South Korean zinc market skyrocketed to $X in 2021, increasing by 297% against the previous year. Overall, consumption, however, showed a noticeable decline. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Zinc Production in Republic of Korea

In value terms, zinc production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 22%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Zinc Exports

Exports from Republic of Korea

In 2021, zinc exports from South Korea fell to X tons, which is down by -12.5% against the year before. Overall, exports, however, continue to indicate a slight increase. The most prominent rate of growth was recorded in 2015 when exports increased by 25%. Over the period under review, the exports hit record highs at X tons in 2020, and then reduced in the following year.

In value terms, zinc exports rose significantly to $X in 2021. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 27% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons) was the main destination for zinc exports from South Korea, with a 79% share of total exports. Moreover, zinc exports to Oman exceeded the volume sent to the second major destination, Myanmar (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Oman stood at +206.1%.

In value terms, Oman ($X) emerged as the key foreign market for zinc exports from South Korea, comprising 65% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman amounted to +207.0%.

Export Prices by Country

In 2021, the average zinc export price amounted to $X per ton, increasing by 30% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 36%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Oman totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Republic of Korea

In 2021, purchases abroad of zinc was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, zinc imports surged to $X in 2021. In general, imports, however, showed a perceptible downturn. The pace of growth was the most pronounced in 2017 when imports increased by 45% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Myanmar (X tons) constituted the largest supplier of zinc to South Korea, accounting for a approx. 67% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Myanmar totaled +408.3%.

In value terms, Myanmar ($X) constituted the largest supplier of zinc to South Korea.

From 2012 to 2021, the average annual rate of growth in terms of value from Myanmar totaled +369.9%.

Import Prices by Country

The average zinc import price stood at $X per ton in 2021, which is down by -20.2% against the previous year. Over the period under review, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 35% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Myanmar.

From 2012 to 2021, the rate of growth in terms of prices for Peru amounted to +2.3% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for zinc in the world?

China constituted the country with the largest volume of zinc consumption, accounting for 32% of total volume. Moreover, zinc consumption in China exceeded the figures recorded by the second-largest consumer, Peru, fourfold. The United States ranked third in terms of total consumption with an 8.8% share.

What are the largest producers of zinc in the world?

China remains the largest zinc producing country worldwide, accounting for 29% of total volume. Moreover, zinc production in China exceeded the figures recorded by the second-largest producer, Peru, threefold. Australia ranked third in terms of total production with a 5.7% share.

What are the leading suppliers of zinc to Republic of Korea?

In value terms, Myanmar constituted the largest supplier of zinc to South Korea.

What are the leading importers of zinc from Republic of Korea?

In value terms, Oman emerged as the key foreign market for zinc exports from South Korea, comprising 65% of total exports. The second position in the ranking was held by Myanmar, with a 25% share of total exports.

What is the average export price for zinc in Republic of Korea?

The average zinc export price stood at $3,062 per ton in 2021, picking up by 30% against the previous year.

What is the average import price for zinc in Republic of Korea?

In 2021, the average zinc import price amounted to $1,918 per ton, dropping by -20.2% against the previous year.

This report provides an in-depth analysis of the zinc 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:

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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