Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in South Korea - 2022

Contents:

1. Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in South Korea (CIF) - 2022
2. Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in South Korea (FOB) - 2022
3. Imports of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in South Korea
4. Exports of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in South Korea

Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in South Korea (CIF) - 2022

In 2022, the average import price for silicates; commercial alkali metal silicates, other than of sodium or potassia amounted to $2,281 per ton, reducing by -7.5% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 26%. The import price peaked at $2,860 per ton in 2020; however, from 2021 to 2022, import prices remained at a 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 ($15,805 per ton), while the price for Malaysia ($248 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in South Korea (FOB) - 2022

The average export price for silicates; commercial alkali metal silicates, other than of sodium or potassia stood at $1,050 per ton in 2022, growing by 5.3% against the previous year. Overall, the export price, however, continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2015 when the average export price increased by 46%. As a result, the export price reached the peak level of $3,267 per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($4,826 per ton), while the average price for exports to Malaysia ($521 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 the Dominican Republic (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in South Korea

In 2022, imports of silicates; commercial alkali metal silicates, other than of sodium or potassia into South Korea was estimated at 4.2K tons, increasing by 7.5% against the previous year's figure. The total import volume increased at an average annual rate of +6.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 28%. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, imports of silicates; commercial alkali metal silicates, other than of sodium or potassia reduced slightly to $9.5M in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 10% against the previous year. As a result, imports attained the peak of $9.6M, leveling off in the following year.

Top Suppliers of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium to South Korea in 2022:

1. China (2407.5 tons)
2. Netherlands (680.0 tons)
3. Japan (435.0 tons)
4. Malaysia (205.0 tons)
5. Belgium (193.6 tons)
6. United States (140.6 tons)
7. France (22.1 tons)

Exports of Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium in South Korea

For the fourth consecutive year, South Korea recorded growth in shipments abroad of silicates; commercial alkali metal silicates, other than of sodium or potassia, which increased by 25% to 6.1K tons in 2022. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 194%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, exports of silicates; commercial alkali metal silicates, other than of sodium or potassia soared to $6.4M in 2022. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 81% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Silicates; Commercial Alkali Metal Silicates, Other than of Sodium or Potassium from South Korea in 2022:

1. Malaysia (4097.7 tons)
2. China (825.3 tons)
3. Vietnam (409.0 tons)
4. Thailand (290.1 tons)
5. France (114.4 tons)
6. Dominican Republic (105.2 tons)

Source: IndexBox Market Intelligence Platform