Republic of Korea: Lead Market 2024

Lead Market Size in Republic of Korea

The South Korean lead market totaled $X in 2023, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Lead Production in Republic of Korea

In value terms, lead production stood at $X in 2023 estimated in export price. Over the period under review, the total production indicated a perceptible 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, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Lead production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Lead Exports

Exports from Republic of Korea

In 2023, lead exports from South Korea shrank to X tons, falling by X% on the previous year. Over the period under review, total exports indicated buoyant growth from 2012 to 2023: its volume 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 2021 indices. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, lead exports reduced modestly to $X in 2023. Overall, total exports indicated prominent growth 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 2016 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Vietnam (X tons) and India (X tons) were the main destinations of lead exports from South Korea, together accounting for X% of total exports.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lead exported from South Korea were the United States ($X), Vietnam ($X) and India ($X), together accounting for X% of total exports.

The United States, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lead export price stood at $X per ton in 2023, remaining stable against the previous year. Over the period under review, the export price, however, continues to indicate a mild descent. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($X per ton) and Vietnam ($X per ton), while the average price for exports to China ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced a decline.

Lead Imports

Imports into Republic of Korea

In 2023, the amount of lead imported into South Korea amounted to X tons, picking up by X% on the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, lead imports totaled $X in 2023. In general, total imports indicated a notable 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, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, India (X tons) constituted the largest lead supplier to South Korea, accounting for a X% share of total imports. Moreover, lead imports from India exceeded the figures recorded by the second-largest supplier, Nigeria (X tons), more than tenfold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Japan (X% per year).

In value terms, India ($X) constituted the largest supplier of lead to South Korea, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual growth rate of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Japan (X% per year).

Import Prices by Country

In 2023, the average lead import price amounted to $X per ton, declining by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then reduced modestly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from India ($X per ton) and the United Arab Emirates ($X per ton), while the price for Russia ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform