Republic of Korea: Unwrought Tin Alloys Market 2024

Unwrought Tin Alloys Market Size in Republic of Korea

The South Korean unwrought tin alloys market soared to $X in 2023, jumping by X% against the previous year. Over the period under review, consumption showed a measured expansion. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Unwrought Tin Alloys Production in Republic of Korea

In value terms, unwrought tin alloys production soared to $X in 2023 estimated in export price. Over the period under review, production saw a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Unwrought Tin Alloys Exports

Exports from Republic of Korea

In 2023, approx. X tons of unwrought tin alloys were exported from South Korea; increasing by X% compared with the previous year. In general, exports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, unwrought tin alloys exports skyrocketed to $X in 2023. Overall, exports continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons), the Philippines (X tons) and Taiwan (Chinese) (X tons) were the main destinations of unwrought tin alloys exports from South Korea, with a combined X% share of total exports. The United States, Japan and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unwrought tin alloys exported from South Korea were the Philippines ($X), China ($X) and Taiwan (Chinese) ($X), together comprising X% of total exports. The United States, Japan and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

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 unwrought tin alloys export price stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, unwrought tin alloys export price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The export price peaked in 2023 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to the United States ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Unwrought Tin Alloys Imports

Imports into Republic of Korea

In 2023, after two years of decline, there was significant growth in purchases abroad of unwrought tin alloys, when their volume increased by X% to X tons. In general, imports, however, continue to indicate a deep setback. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, unwrought tin alloys imports skyrocketed to $X in 2023. Over the period under review, imports, however, saw a abrupt downturn. Imports peaked at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, India (X tons) constituted the largest supplier of unwrought tin alloys to South Korea, with a X% share of total imports. Moreover, unwrought tin alloys imports from India exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by Spain (X tons), with a X% share.

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

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

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

Import Prices by Country

In 2023, the average unwrought tin alloys import price amounted to $X per ton, falling by X% against the previous year. Overall, the import price saw a slight decline. The growth pace was the most rapid in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then contracted markedly 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 China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform