Forecast: Import of Cerium Compounds to South Korea

The import of cerium compounds to South Korea has seen significant fluctuations over the past decade. Starting at 1.0227 million kilograms in 2013, the import volume peaked at 1.2853 million kilograms in 2018 before beginning a downward trend. By 2023, the import volume stood at 0.90751 million kilograms, experiencing a year-on-year decrease of 5.78%. Over the last two years, the annual decrease fluctuated between -5.57% and -5.78%. The compound annual growth rate (CAGR) over the past five years is -6.72%, highlighting a consistent decline.

Looking forward, the forecasted data from 2024 onwards suggests a continued decrease, with a 5-year CAGR of -6.14%, indicating an overall reduction of approximately 27.15% by 2028.

Future trends to watch for include:

• Technological advancements and innovations that may affect cerium compound demand.
• Economic and industrial policies in South Korea influencing import volume.
• Shifts in global supply chains and trade agreements impacting cerium availability.