Republic of Korea: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Republic of Korea

The South Korean glass fibre and article market fell slightly to $X in 2022, shrinking by X% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Glass Fibres and Glass Fibre Articles in Republic of Korea

In value terms, glass fibre and article production reduced to $X in 2022 estimated in export price. Overall, production showed a perceptible reduction. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Glass fibre and article production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Republic of Korea

In 2022, after two years of growth, there was significant decline in shipments abroad of glass fibres and glass fibre articles, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% 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 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, glass fibre and article exports dropped to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Japan (X tons), the United States (X tons) and Vietnam (X tons) were the main destinations of glass fibre and article exports from South Korea, with a combined X% share of total exports. Germany, Italy, China, Belgium, India, Slovenia, Malaysia, Taiwan (Chinese), the United Arab Emirates and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and China ($X) appeared to be the largest markets for glass fibre and article exported from South Korea worldwide, together comprising X% of total exports. Vietnam, Germany, France, India, Italy, Taiwan (Chinese), Malaysia, Slovenia, Belgium and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Italy, with a CAGR of X%, recorded the highest growth rate of the value of exports, 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 glass fibre and article export price amounted to $X per ton, waning by X% against the previous year. In general, the export price saw a perceptible decrease. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the 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 China ($X per ton), while the average price for exports to Belgium ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Republic of Korea

In 2022, approx. X tons of glass fibres and glass fibre articles were imported into South Korea; falling by X% on 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, glass fibre and article imports declined to $X in 2022. The total import value increased at an average annual rate of X% 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 X%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre and article supplier to South Korea, accounting for a X% share of total imports. Moreover, glass fibre and article imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. 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 stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to South Korea, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Malaysia, with an X% share.

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

Import Prices by Country

The average glass fibre and article import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

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

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

Source: IndexBox Platform

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