Republic of Korea: Clutch Market 2024

Clutch Market Size in Republic of Korea

The South Korean clutch market stood at $X in 2022, picking up by 13% against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 -11.9% against 2020 indices. Clutch consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Clutch Production in Republic of Korea

In value terms, clutch production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 -1.3% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 45%. Clutch production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Clutch Exports

Exports from Republic of Korea

Clutch exports from South Korea declined to X tons in 2022, dropping by -3.1% compared with the previous year. The total export volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 26% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, clutch exports dropped slightly to $X in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +14.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 44% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), China (X tons) and the United Arab Emirates (X tons) were the main destinations of clutch exports from South Korea, together comprising 37% of total exports. Mexico, India, Japan, Russia, Canada, Turkey, Chile, Indonesia, Colombia and France lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +168.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Mexico ($X) constituted the largest markets for clutch exported from South Korea worldwide, together comprising 40% of total exports. India, the United Arab Emirates, Japan, Canada, Russia, Chile, Colombia, Turkey, Indonesia and France lagged somewhat behind, together comprising a further 36%.

Canada, with a CAGR of +147.8%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average clutch export price stood at $X per ton in 2022, increasing by 2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2016 when the average export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average 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 India ($X per ton), while the average price for exports to Indonesia ($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 Japan (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Clutch Imports

Imports into Republic of Korea

In 2022, imports of clutches into South Korea surged to X tons, growing by 37% on 2021 figures. Overall, imports, however, showed a mild curtailment. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, clutch imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 25%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Slovakia (X tons), China (X tons) and Japan (X tons) were the main suppliers of clutch imports to South Korea, with a combined 70% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +32.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest clutch suppliers to South Korea were Japan ($X), Slovakia ($X) and China ($X), together accounting for 61% of total imports.

In terms of the main suppliers, Slovakia, with a CAGR of +37.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average clutch import price stood at $X per ton in 2022, reducing by -17.2% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the average import price increased by 48%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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