Report Update: May 1, 2024

Republic of Korea - Polishes For Coachwork - Market Analysis, Forecast, Size, Trends And Insights

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Polishes for Coachwork Price in South Korea - 2022

Polishes for Coachwork Price in South Korea (FOB) - 2022

The average polishes for coachwork export price stood at $10,180 per ton in 2022, reducing by -1.8% against the previous year. Over the period under review, the export price, however, posted a remarkable increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices hit record highs at $10,371 per ton in 2021, and then contracted in the following year.

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 Australia ($31,599 per ton), while the average price for exports to China ($3,177 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Polishes for Coachwork Price in South Korea (CIF) - 2022

The average polishes for coachwork import price stood at $10,180 per ton in December 2022, which is down by -42.2% against the previous month. Overall, the import price, however, continues to indicate a notable increase. The pace of growth was the most pronounced in October 2022 when the average import price increased by 61% against the previous month. Over the period under review, average import prices reached the maximum at $17,602 per ton in November 2022, and then shrank markedly in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($15,938 per ton), while the price for Italy ($5,513 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Polishes for Coachwork Exports in South Korea

In 2022, exports of polishes for coachwork from South Korea expanded notably to 1.1K tons, increasing by 8.9% against the previous year. Overall, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +14.9% 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 +59.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 46%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, polishes for coachwork exports expanded markedly to $11M in 2022. In general, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.3% 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 +74.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 48%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Export of Polishes for Coachwork in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Pakistan	1,743	1,682	1,973	2,044	5.5%
United States	636	852	1,137	1,159	22.1%
Australia	1,064	644	1,084	1,053	-0.3%
Japan	302	189	749	1,039	51.0%
United Arab Emirates	93.4	279	359	468	71.1%
Russia	118	83.3	283	366	45.8%
India	212	217	286	334	16.4%
Vietnam	97.3	181	364	303	46.0%
Indonesia	172	119	144	240	11.7%
Thailand	248	135	219	177	-10.6%
Finland	1.2	6.8	11.4	147	396.6%
China	245	214	187	147	-15.7%
Mongolia	88.9	36.5	110	105	5.7%
Others	1,181	2,161	3,190	3,208	39.5%
Total	6,201	6,800	10,095	10,789	20.3%

Top Export Markets for Polishes for Coachwork from South Korea in 2022:

Pakistan (170.7 tons)
Japan (154.5 tons)
United States (88.0 tons)
Vietnam (65.3 tons)
India (53.7 tons)
China (46.2 tons)
Thailand (34.6 tons)
Australia (33.3 tons)
Russia (32.0 tons)
Indonesia (30.8 tons)
Mongolia (27.5 tons)
Finland (27.2 tons)
United Arab Emirates (23.7 tons)

Polishes for Coachwork Imports in South Korea

Polishes for coachwork imports into South Korea shrank to 547 tons in 2022, reducing by -11.6% against the year before. Over the period under review, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 8.5%.

In value terms, polishes for coachwork imports declined dramatically to $4.5M in 2022. In general, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year.

Import of Polishes for Coachwork in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	2,586	2,794	2,476	1,967	-8.7%
Germany	1,190	848	1,473	875	-9.7%
Japan	1,913	903	838	568	-33.3%
Brazil	N/A	N/A	139	317	128.1%
China	144	67.8	98.5	248	19.9%
Italy	75.2	181	322	220	43.0%
United Kingdom	479	185	169	137	-34.1%
Others	751	224	283	154	-41.0%
Total	7,139	5,203	5,798	4,485	-14.4%

Top Suppliers of Polishes for Coachwork to South Korea in 2022:

United States (246.3 tons)
Germany (120.7 tons)
Italy (46.3 tons)
Japan (45.7 tons)
China (29.3 tons)
United Kingdom (26.0 tons)
Brazil (23.6 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the polishes for coachwork 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 20414370 - Polishes and similar preparations, for coachwork (excluding artificial and prepared waxes, metal polishes)

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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. 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
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023