Republic of Korea: Corrugated Paper Box Market 2024

Corrugated Paper Box Market Size in Republic of Korea

The South Korean corrugated paper box market dropped modestly to $X in 2022, which is down by X% against the previous year. Overall, the total consumption indicated a tangible expansion 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, consumption decreased by X% against 2019 indices. Corrugated paper box consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Corrugated Paper Box Production in Republic of Korea

In value terms, corrugated paper box production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Corrugated Paper Box Exports

Exports from Republic of Korea

In 2022, shipments abroad of cartons, boxes and cases of corrugated paper or paperboard was finally on the rise to reach X tons after two years of decline. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its volume 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 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, corrugated paper box exports fell slightly to $X in 2022. In general, total exports indicated a resilient 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 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for corrugated paper box exports from South Korea, with a X% share of total exports. Moreover, corrugated paper box exports to Russia exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was taken by China (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

In value terms, Russia ($X) remains the key foreign market for cartons, boxes and cases of corrugated paper or paperboard exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average corrugated paper box export price amounted to $X per ton, shrinking by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Malaysia ($X per ton), while the average price for exports to China ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Corrugated Paper Box Imports

Imports into Republic of Korea

Corrugated paper box imports into South Korea shrank sharply to X tons in 2022, waning by X% against the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, corrugated paper box imports fell to $X in 2022. Overall, total imports indicated a buoyant 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, imports increased by X% against 2013 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

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

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

In value terms, China ($X) constituted the largest supplier of cartons, boxes and cases of corrugated paper or paperboard to South Korea, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

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

Import Prices by Country

In 2022, the average corrugated paper box import price amounted to $X per ton, surging by X% against the previous year. Overall, import price indicated prominent growth 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, corrugated paper box import price increased by X% against 2019 indices. The growth pace was the most rapid in 2015 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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