Republic of Korea: Plastic Bottle Market 2024

Plastic Bottle Market Size in Republic of Korea

The South Korean plastic bottle market fell to $X in 2022, shrinking by X% against the previous year. Overall, consumption posted a strong expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Plastic Bottle Production in Republic of Korea

In value terms, plastic bottle production fell slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Plastic bottle production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Plastic Bottle Exports

Exports from Republic of Korea

In 2022, shipments abroad of carboys, bottles and similar articles of plastics increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a slight setback. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, plastic bottle exports fell slightly to $X in 2022. Overall, total exports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main destinations of plastic bottle exports from South Korea, with a combined X% share of total exports. The UK, Canada, France, Poland, Belgium, Vietnam, Switzerland and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and China ($X) constituted the largest markets for plastic bottle exported from South Korea worldwide, together accounting for X% of total exports. The UK, Switzerland, France, Canada, Poland, Belgium, Malaysia and Vietnam lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic bottle export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic bottle export price decreased by X% against 2017 indices. The pace of growth appeared the most rapid in 2014 an increase of X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Vietnam ($X 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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bottle Imports

Imports into Republic of Korea

In 2022, after five years of growth, there was decline in supplies from abroad of carboys, bottles and similar articles of plastics, when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed a strong increase. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell modestly in the following year.

In value terms, plastic bottle imports expanded slightly to $X in 2022. In general, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic bottle to South Korea, accounting for a X% share of total imports. Moreover, plastic bottle imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of carboys, bottles and similar articles of plastics to South Korea, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average plastic bottle import price amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :