The import of Bentonite to South Korea stood at 26.567 Million US Dollars in 2023. Over the past decade, imports have exhibited significant fluctuations. From 2013 to 2014, imports increased by 20.4%, but from 2016 to 2017, there was an 18.06% decline. In recent years, imports recovered, with a 22.82% increase in 2021 followed by moderate growth of 1.86% in 2022 and 1.79% in 2023. The average annual growth rate over the last five years (CAGR) was approximately 1.94%. Future forecasts project a modest annual growth rate (CAGR) of 1.39% from 2024 to 2028, translating to an overall growth of 7.13% by 2028.
Future trends to watch include:
- Potential economic impacts influencing import levels.
- Technological advancements in the industries using Bentonite.
- Changes in trade policies or tariffs impacting Bentonite import costs.
