Republic of Korea - Furniture Of Plastic - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPlastic Furniture Price in South Korea - 2022
Contents:
- Plastic Furniture Price in South Korea (CIF) - 2022
- Plastic Furniture Price in South Korea (FOB) - 2022
- Plastic Furniture Imports in South Korea
- Plastic Furniture Exports in South Korea
Plastic Furniture Price in South Korea (CIF) - 2022
In December 2022, the average plastic furniture import price amounted to $10.0 per unit, flattening at the previous month. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2022 an increase of 24% month-to-month. The import price peaked at $12.3 per unit in March 2022; however, from April 2022 to December 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Italy ($48.3 per unit), while the price for China stood at $8.6 per unit.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (-0.5%).
Plastic Furniture Price in South Korea (FOB) - 2022
In 2022, the average plastic furniture export price amounted to $14 per unit, falling by -3.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2016 an increase of 19%. The export price peaked at $16 per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($23 per unit), while the average price for exports to Malawi ($2.5 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.
Plastic Furniture Imports in South Korea
In 2022, supplies from abroad of furniture of plastic decreased by -9.5% to 2.3M units for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +5.6% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 18% against the previous year. As a result, imports attained the peak of 2.6M units, and then dropped in the following year.
In value terms, plastic furniture imports fell to $25M in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +10.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 28% against the previous year. As a result, imports attained the peak of $28M, and then declined in the following year.
| Import of Plastic Furniture in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 14.2 | 17.6 | 22.6 | 21.9 | 15.5% |
| Italy | 1.2 | 1.3 | 2.1 | 0.9 | -9.1% |
| Taiwan (Chinese) | 0.6 | 0.7 | 0.6 | 0.4 | -12.6% |
| Israel | 0.5 | 0.7 | 0.7 | 0.2 | -26.3% |
| Others | 1.9 | 1.7 | 2.0 | 1.6 | -5.6% |
| Total | 18.4 | 22.0 | 28.1 | 25.0 | 10.8% |
Top Suppliers of Plastic Furniture to South Korea in 2022:
- China (2179.7K units)
- Taiwan (Chinese) (41.6K units)
- Italy (31.4K units)
- Israel (21.3K units)
Plastic Furniture Exports in South Korea
After three years of growth, shipments abroad of furniture of plastic decreased by -7.9% to 687K units in 2022. Over the period under review, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +24.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +93.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 71% against the previous year. Over the period under review, the exports reached the maximum at 745K units in 2021, and then fell in the following year.
In value terms, plastic furniture exports declined to $9.9M in 2022. Overall, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.3% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 56% against the previous year. Over the period under review, the exports hit record highs at $11M in 2021, and then reduced in the following year.
| Export of Plastic Furniture in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 626 | 1,688 | 1,840 | 2,164 | 51.2% |
| China | 1,296 | 1,911 | 1,221 | 1,885 | 13.3% |
| Taiwan (Chinese) | 302 | 588 | 2,169 | 1,397 | 66.6% |
| Japan | 536 | 750 | 1,196 | 852 | 16.7% |
| Philippines | 273 | 157 | 145 | 480 | 20.7% |
| Singapore | 99.9 | 203 | 329 | 212 | 28.5% |
| Vietnam | 229 | 193 | 60.3 | 170 | -9.5% |
| Thailand | 99.7 | 207 | 233 | 157 | 16.3% |
| Germany | 325 | 320 | 226 | 141 | -24.3% |
| Hong Kong SAR | 299 | 212 | 687 | 77.4 | -36.3% |
| Malawi | 15.7 | 25.7 | 44.8 | 34.5 | 30.0% |
| Others | 1,424 | 2,381 | 3,025 | 2,336 | 17.9% |
| Total | 5,526 | 8,636 | 11,175 | 9,905 | 21.5% |
Top Export Markets for Plastic Furniture from South Korea in 2022:
- United States (174.0K units)
- China (111.4K units)
- Japan (86.4K units)
- Taiwan (Chinese) (83.2K units)
- Philippines (38.6K units)
- Malawi (13.6K units)
- Thailand (12.0K units)
- Singapore (10.8K units)
- Vietnam (9.4K units)
- Germany (9.2K units)
- Hong Kong SAR (3.4K units)
This report provides an in-depth analysis of the plastic furniture 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:
- Prodcom 31091430 - Furniture of plastics (excluding medical, surgical, dental or veterinary furniture - cases and cabinets specially designed for hi-fi systems, videos and televisions)
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.
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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
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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
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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
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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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