Republic of Korea: Market for Zirconium Ores and Concentrates 2022

Market Size for Zirconium Ores and Concentrates in Republic of Korea

In 2021, after two years of decline, there was significant growth in the South Korean zirconium ore and concentrate market, when its value increased by X% to $X. In general, consumption, however, faced a drastic downturn. Zirconium ore and concentrate consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Zirconium Ores and Concentrates

Exports from Republic of Korea

In 2021, shipments abroad of zirconium ores and concentrates decreased by -X% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports saw a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, zirconium ore and concentrate exports dropped dramatically to $X in 2021. Over the period under review, exports recorded a deep slump. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons) was the main destination for zirconium ore and concentrate exports from South Korea, accounting for a X% share of total exports. Moreover, zirconium ore and concentrate exports to Vietnam exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. Japan (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 Vietnam amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Japan (+X% per year).

In value terms, the largest markets for zirconium ore and concentrate exported from South Korea were Indonesia ($X), Vietnam ($X) and Japan ($X), with a combined X% share of total exports.

Japan, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average zirconium ore and concentrate export price stood at $X per ton in 2021, rising by X% against the previous year. Overall, the export price, however, showed a abrupt contraction. The growth pace was the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per ton), while the average price for exports to China ($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 Thailand (+X%), while the prices for the other major destinations experienced a decline.

Imports of Zirconium Ores and Concentrates

Imports into Republic of Korea

In 2021, after two years of decline, there was significant growth in overseas purchases of zirconium ores and concentrates, when their volume increased by X% to X tons. Overall, imports, however, saw a abrupt decline. The growth pace was the most rapid in 2015 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, zirconium ore and concentrate imports surged to $X in 2021. Over the period under review, imports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X tons) constituted the largest supplier of zirconium ore and concentrate to South Korea, accounting for a X% share of total imports. Moreover, zirconium ore and concentrate imports from South Africa exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from South Africa amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-X% per year) and Malaysia (+X% per year).

In value terms, South Africa ($X) constituted the largest supplier of zirconium ore and concentrate to South Korea, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Africa totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-X% per year) and China (+X% per year).

Import Prices by Country

The average zirconium ore and concentrate import price stood at $X per ton in 2021, surging by X% against the previous year. Over the period under review, the import price, however, recorded a slight shrinkage. The pace of growth was the most pronounced in 2018 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were China ($X per ton) and Vietnam ($X per ton), while the price for Malaysia ($X per ton) and Australia ($X per ton) were amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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