Republic of Korea: Market for Float Glass And Surface Ground or Polished Glass 2024

Market Size for Float Glass And Surface Ground or Polished Glass in Republic of Korea

The South Korean market for float glass and surface ground or polished glass contracted modestly to $X in 2022, standing approx. at the previous year. Over the period under review, consumption, however, showed a prominent increase. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Float Glass And Surface Ground or Polished Glass in Republic of Korea

In value terms, production of float glass and surface ground or polished glass reduced slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Exports of Float Glass And Surface Ground or Polished Glass

Exports from Republic of Korea

In 2022, overseas shipments of float glass and surface ground or polished glass decreased by X% to X square meters, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a abrupt decrease. The pace of growth was the most pronounced in 2020 when exports increased by X%. The exports peaked at X square meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of float glass and surface ground or polished glass rose significantly to $X in 2022. Overall, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X square meters) was the main destination for exports of float glass and surface ground or polished glass from South Korea, accounting for a X% share of total exports. Moreover, exports of float glass and surface ground or polished glass to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X square meters), more than tenfold. The third position in this ranking was held by Hong Kong SAR (X square meters), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Hong Kong SAR (X% per year).

In value terms, China ($X) remains the key foreign market for float glass and surface ground or polished glass exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The average export price for float glass and surface ground or polished glass stood at $X per square meter in 2022, rising by X% against the previous year. Over the period under review, export price indicated a resilient expansion 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, export price for float glass and surface ground or polished glass increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per square meter) and China ($X per square meter), while the average price for exports to Taiwan (Chinese) ($X per square meter) and Hong Kong SAR ($X per square meter) were 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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Float Glass And Surface Ground or Polished Glass

Imports into Republic of Korea

In 2022, approx. X square meters of float glass and surface ground or polished glass were imported into South Korea; which is down by X% against 2021 figures. Overall, imports saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at X square meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of float glass and surface ground or polished glass skyrocketed to $X in 2022. Over the period under review, imports showed a slight decline. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X square meters) constituted the largest supplier of float glass and surface ground or polished glass to South Korea, with a X% share of total imports. Moreover, imports of float glass and surface ground or polished glass from Malaysia exceeded the figures recorded by the second-largest supplier, China (X square meters), fivefold. Thailand (X square meters) 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 Malaysia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Thailand (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of float glass and surface ground or polished glass to South Korea, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

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

Import Prices by Country

The average import price for float glass and surface ground or polished glass stood at $X per square meter in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per square meter) and China ($X per square meter), while the price for Vietnam ($X per square meter) and Thailand ($X per square meter) were amongst the lowest.

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

Source: IndexBox Platform

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