Republic of Korea - MDF - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMDF Price in South Korea - 2022
Contents:
- MDF Price in South Korea (CIF) - 2022
- MDF Price in South Korea (FOB) - 2022
- MDF Imports in South Korea
- MDF Exports in South Korea
MDF Price in South Korea (CIF) - 2022
The average MDF import price stood at $314 per cubic meter in December 2022, falling by -13.7% against the previous month. Overall, the import price recorded a pronounced downturn. The growth pace was the most rapid in July 2022 an increase of 18% m-o-m. The import price peaked at $450 per cubic meter in December 2021; however, from January 2022 to December 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Vietnam ($832 per cubic meter), while the price for Thailand ($256 per cubic meter) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.0%), while the prices for the other major suppliers experienced a decline.
MDF Price in South Korea (FOB) - 2022
In 2022, the average MDF export price amounted to $520 per cubic meter, with a decrease of -6.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 13% against the previous year. The export price peaked at $559 per cubic meter in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($1,230 per cubic meter), while the average price for exports to Taiwan (Chinese) ($236 per cubic meter) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.
MDF Imports in South Korea
In 2022, imports of MDF into South Korea declined to 209K cubic meters, dropping by -14.3% on the year before. Over the period under review, imports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, imports attained the peak of 244K cubic meters, and then shrank in the following year.
In value terms, MDF imports dropped significantly to $64M in 2022. Overall, total imports indicated a mild expansion from 2019 to 2022: its value increased at an average annual rate of +1.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 68% against the previous year. As a result, imports reached the peak of $80M, and then reduced sharply in the following year.
| Import of MDF in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 35.4 | 23.9 | 36.8 | 30.0 | -5.4% |
| Vietnam | 3.3 | 6.3 | 20.1 | 13.2 | 58.7% |
| China | 6.9 | 5.8 | 10.7 | 8.0 | 5.1% |
| Romania | 3.1 | 3.3 | 3.4 | 3.8 | 7.0% |
| Brazil | 1.3 | 0.4 | 2.2 | 2.0 | 15.4% |
| Malaysia | 0.2 | 0.2 | 1.7 | 1.3 | 86.6% |
| New Zealand | 1.5 | 2.7 | 0.3 | 0.1 | -59.5% |
| Others | 9.2 | 4.9 | 4.5 | 5.1 | -17.9% |
| Total | 61.0 | 47.4 | 79.7 | 63.6 | 1.4% |
Top Suppliers of MDF to South Korea in 2022:
- Thailand (131.9K cubic meters)
- Vietnam (25.6K cubic meters)
- China (16.1K cubic meters)
- Romania (13.3K cubic meters)
- Brazil (7.8K cubic meters)
- Malaysia (3.3K cubic meters)
- New Zealand (0.7K cubic meters)
MDF Exports in South Korea
In 2022, overseas shipments of MDF increased by 4.9% to 21K cubic meters for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a drastic downturn. Over the period under review, the exports attained the peak figure at 30K cubic meters in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, MDF exports reduced slightly to $11M in 2022. Over the period under review, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 3.2% against the previous year. Over the period under review, the exports reached the peak figure at $15M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
| Export of MDF in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 6.7 | 4.8 | 4.3 | 5.1 | -8.7% |
| Vietnam | 1.1 | 1.0 | 0.8 | 0.8 | -10.1% |
| China | 0.6 | 0.5 | 0.8 | 0.7 | 5.3% |
| Mongolia | 0.2 | 0.2 | 0.4 | 0.4 | 26.0% |
| United Kingdom | 0.1 | 0.1 | N/A | 0.4 | 58.7% |
| Taiwan (Chinese) | 0.5 | 0.2 | 0.2 | 0.2 | -26.3% |
| Saudi Arabia | 0.4 | 0.2 | 0.2 | 0.1 | -37.0% |
| Others | 5.5 | 3.7 | 4.2 | 3.1 | -17.4% |
| Total | 15.0 | 10.6 | 11.0 | 10.8 | -10.4% |
Top Export Markets for MDF from South Korea in 2022:
- Japan (12.4K cubic meters)
- China (1.4K cubic meters)
- Taiwan (Chinese) (1.0K cubic meters)
- Vietnam (0.9K cubic meters)
- Mongolia (0.8K cubic meters)
- Saudi Arabia (0.4K cubic meters)
- United Kingdom (0.4K cubic meters)
This report provides an in-depth analysis of the mdf 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 1648 - MDF/HDF
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.
-
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
-
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
-
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
-
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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