Republic of Korea: Market for Aluminium Plates, Sheets and Strip of Thickness over 0.2 mm 2024

Market Size for Aluminium Plates, Sheets and Strip of Thickness over 0.2 mm in Republic of Korea

After two years of growth, the South Korean market for aluminium plates, sheets and strip of thickness over X mm decreased by X% to $X in 2023. In general, the total consumption indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Production of Aluminium Plates, Sheets and Strip of Thickness over X mm in Republic of Korea

In value terms, production of aluminium plates, sheets and strip of thickness over X mm stood at $X in 2023 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. Production of peaked at $X in 2013; however, from 2014 to 2023, production remained at a lower figure.

Exports of Aluminium Plates, Sheets and Strip of Thickness over 0.2 mm

Exports from Republic of Korea

Exports of aluminium plates, sheets and strip of thickness over X mm from South Korea expanded sharply to X tons in 2023, surging by X% compared with the previous year. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, exports of aluminium plates, sheets and strip of thickness over X mm contracted slightly to $X in 2023. Over the period under review, total exports indicated a slight increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for exports of aluminium plates, sheets and strip of thickness over X mm from South Korea, with a X% share of total exports. Moreover, exports of aluminium plates, sheets and strip of thickness over X mm to Japan exceeded the volume sent to the second major destination, Hungary (X tons), fourfold. Thailand (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (X% per year) and Thailand (X% per year).

In value terms, Japan ($X) remains the key foreign market for aluminium plates, sheets and strip of thickness over X mm exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by China ($X), with an X% share of total exports. It was followed by Hungary, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Hungary (X% per year).

Export Prices by Country

In 2023, the average export price for aluminium plates, sheets and strip of thickness over X mm amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, 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 more modest paces of growth.

Imports of Aluminium Plates, Sheets and Strip of Thickness over 0.2 mm

Imports into Republic of Korea

Imports of aluminium plates, sheets and strip of thickness over X mm into South Korea declined sharply to X tons in 2023, falling by X% on the previous year's figure. Overall, imports, however, posted a prominent increase. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, imports of aluminium plates, sheets and strip of thickness over X mm reduced notably to $X in 2023. Over the period under review, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Over the period under review, imports of attained the maximum at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) was the main supplier of aluminium plate, sheet and strip of thickness over X mm to South Korea, with a X% share of total imports. It was followed by Japan (X tons), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%.

In value terms, China ($X) constituted the largest supplier of aluminium plates, sheets and strip of thickness over X mm to South Korea, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%.

Import Prices by Country

The average import price for aluminium plates, sheets and strip of thickness over X mm stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price, however, showed a slight increase. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked at $X per ton in 2022, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform