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Republic of Korea - Magnesium - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Magnesium Market 2024
Magnesium Market Size in Republic of Korea
The South Korean magnesium market reduced slightly to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.
Magnesium Exports
Exports from Republic of Korea
In 2022, approx. X tons of magnesium were exported from South Korea; picking up by X% on 2021. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in the near future.
In value terms, magnesium exports soared to $X in 2022. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
Exports by Country
The United States (X tons) was the main destination for magnesium exports from South Korea, accounting for a X% share of total exports. It was followed by Japan (X tons), with a X% share of total exports. The third position in this ranking was held by Vietnam (X tons), with a X% share.
From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Vietnam (X% per year).
In value terms, the United States ($X) remains the key foreign market for magnesium exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.
From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the Netherlands (X% per year).
Export Prices by Country
The average magnesium export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Japan ($X 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 Vietnam (X%), while the prices for the other major destinations experienced mixed trend patterns.
Magnesium Imports
Imports into Republic of Korea
In 2022, after three years of growth, there was significant decline in purchases abroad of magnesium, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.
In value terms, magnesium imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the near future.
Imports by Country
In 2022, China (X tons) was the main supplier of magnesium to South Korea, with a X% share of total imports. It was followed by Taiwan (Chinese) (X tons), with less than X% share of total imports.
From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%.
In value terms, China ($X) constituted the largest supplier of magnesium to South Korea, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with less than X% share of total imports.
From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%.
Import Prices by Country
In 2022, the average magnesium import price amounted to $X per ton, jumping by X% against the previous year. In general, the import price showed a pronounced increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Taiwan (Chinese) stood at $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the magnesium 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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