Republic of Korea: Starch Glue Market 2024

Starch Glue Market Size in Republic of Korea

The South Korean starch glue market stood at $X in 2023, surging by X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2023, the growth of the market failed to regain momentum.

Starch Glue Production in Republic of Korea

In value terms, starch glue production rose slightly to $X in 2023 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

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Starch Glue Exports

Exports from Republic of Korea

In 2023, shipments abroad of glues based on starches, dextrins or other modified starches was finally on the rise to reach X tons for the first time since 2016, thus ending a six-year declining trend. In general, exports saw a relatively flat trend pattern. The exports peaked at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, starch glue exports rose slightly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of $X. From 2017 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Indonesia (X tons) and China (X tons) were the main destinations of starch glue exports from South Korea, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X), the United States ($X) and Vietnam ($X) appeared to be the largest markets for starch glue exported from South Korea worldwide, with a combined X% share of total exports.

The United States, with a CAGR of X%, saw the highest growth rate of 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

In 2023, the average starch glue export price amounted to $X per ton, dropping by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, 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 more modest paces of growth.

Starch Glue Imports

Imports into Republic of Korea

In 2023, the amount of glues based on starches, dextrins or other modified starches imported into South Korea plummeted to X tons, which is down by X% against the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, starch glue imports reduced sharply to $X in 2023. In general, imports showed a abrupt slump. The pace of growth was the most pronounced in 2022 with an increase of X%. Imports peaked at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of starch glue to South Korea, with a X% share of total imports. Moreover, starch glue imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X tons), eightfold. The third position in this ranking was taken by Switzerland (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and Switzerland (X% per year).

In value terms, China ($X) constituted the largest supplier of glues based on starches, dextrins or other modified starches to South Korea, comprising X% of total imports. The second position in the ranking was held by Sweden ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and the United States (X% per year).

Import Prices by Country

The average starch glue import price stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the average import prices remained 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 ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform