Sulphur Market in South Korea
Market Overview
The South Korean sulphur market declined modestly to $
in , falling by -% 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, consumption saw a buoyant increase. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to , consumption failed to regain momentum.
In value terms, sulphur production reduced to $ in estimated in export price. Overall, production recorded a strong expansion. The pace of growth was the most pronounced in 2008 when the production volume increased by % against the previous year. Sulphur production peaked at $ in 2019; however, from to , production failed to regain momentum.
in , falling by -% 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, consumption saw a buoyant increase. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to , consumption failed to regain momentum.In value terms, sulphur production reduced to $
in estimated in export price. Overall, production recorded a strong expansion. The pace of growth was the most pronounced in 2008 when the production volume increased by % against the previous year. Sulphur production peaked at $ in 2019; however, from to , production failed to regain momentum.Consumption
In , consumption of sulphur increased by % to tons, rising for the second consecutive year after three years of decline. In general, consumption enjoyed prominent growth. Sulphur consumption peaked in and is expected to retain growth in years to come.
The revenue of the sulphur market in South Korea reached $ in , increasing by % 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). Over the period under review, consumption posted a resilient expansion. Over the period under review, the market reached the peak level at $ in 2017; however, from 2018 to , consumption failed to regain momentum.
, consumption of sulphur increased by % to tons, rising for the second consecutive year after three years of decline. In general, consumption enjoyed prominent growth. Sulphur consumption peaked in and is expected to retain growth in years to come.The revenue of the sulphur market in South Korea reached $
in , increasing by % 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). Over the period under review, consumption posted a resilient expansion. Over the period under review, the market reached the peak level at $ in 2017; however, from 2018 to , consumption failed to regain momentum.Market Forecast
Driven by increasing demand for sulphur in South Korea, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . South Korea domestic supply is expected to continue its growth. Over the period under review, the share of imports in terms of total sulphur consumption in South Korea was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the South Korea sulphur market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.
% in 2007 to % in . South Korea domestic supply is expected to continue its growth. Over the period under review, the share of imports in terms of total sulphur consumption in South Korea was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the South Korea sulphur market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.Trade Balance
South Korea remains a net exporter of sulphur; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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