Republic of Korea - NPK Fertilizers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Npk Fertilizer Market 2024
Npk Fertilizer Market Size in Republic of Korea
In 2023, after two years of growth, there was decline in the South Korean NPK fertilizer market, when its value decreased by X% to $X. Overall, consumption continues to indicate a mild descent. Consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.
Npk Fertilizer Production in Republic of Korea
In value terms, NPK fertilizer production rose rapidly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.
Npk Fertilizer Exports
Exports from Republic of Korea
NPK fertilizer exports from South Korea skyrocketed to X tons in 2023, surging by X% on the year before. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.
In value terms, NPK fertilizer exports declined modestly to $X in 2023. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then dropped slightly in the following year.
Exports by Country
The Philippines (X tons), Myanmar (X tons) and Japan (X tons) were the main destinations of NPK fertilizer exports from South Korea, together accounting for X% of total exports. Vietnam, Australia, India, Thailand and Malaysia lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the Philippines ($X), Japan ($X) and Myanmar ($X) were the largest markets for NPK fertilizer exported from South Korea worldwide, with a combined X% share of total exports. India, Australia, Vietnam, Thailand and Malaysia lagged somewhat behind, together comprising a further X%.
In terms of the main countries of destination, India, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average NPK fertilizer export price amounted to $X per ton, falling by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped dramatically in the following year.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Npk Fertilizer Imports
Imports into Republic of Korea
In 2023, approx. X tons of mixed nitrogen, phosphorus and potassium (NPK) fertilizers were imported into South Korea; increasing by X% against 2022. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.
In value terms, NPK fertilizer imports shrank to $X in 2023. In general, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then reduced in the following year.
Imports by Country
In 2023, China (X tons) constituted the largest supplier of NPK fertilizer to South Korea, accounting for a X% share of total imports. Moreover, NPK fertilizer imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total imports with an X% share.
From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and the Netherlands (X% per year).
In value terms, China ($X), the Netherlands ($X) and Norway ($X) constituted the largest NPK fertilizer suppliers to South Korea, with a combined X% share of total imports.
Among the main suppliers, the Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average NPK fertilizer import price stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined notably in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the npk fertilizer 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:
- FCL 4021 - NPK fertilizers
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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