From 2013 to 2023, the import of asbestos-cement and cellulose fibre-cement to South Korea showed a general upward trend, starting at $16.297 million in 2013 and reaching $30.886 million in 2023. Over the past decade, periods of steep growth (e.g., 2016, 2017) were occasionally offset by declines (e.g., 2018, 2020), but the compound annual growth rate (CAGR) for the last decade has been positive. Specifically, the last five years reflect a CAGR of approximately 4.32%, indicating steady growth despite some year-to-year fluctuations.
Year-on-year variation saw major increases particularly in 2016 (30.79%) and 2021 (25.33%), while significant declines were experienced in 2020 (-13.45%) and 2018 (-4.99%). The import value in 2023 stood at $30.886 million, with a modest year-on-year growth of 3.58%. Forecasts up to 2028 predict a continued increase, reaching $36.462 million, with a forecasted five-year CAGR of 2.61%.
Future trends to watch for include:
- Potential regulatory changes affecting asbestos-cement imports.
- Shifts in construction demand due to economic conditions.
- Technological advancements in alternate building materials.
- Environmental and health considerations impacting material choices.
