Republic of Korea: Market for Rubber-to-Metal and Moulded Articles 2024

Market Size for Rubber-to-Metal and Moulded Articles in Republic of Korea

The South Korean rubber-to-metal and moulded article market reduced to $X in 2022, waning by X% against the previous year. In general, the total consumption indicated a strong 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, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Rubber-to-Metal and Moulded Articles in Republic of Korea

In value terms, rubber-to-metal and moulded article production declined to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Rubber-to-metal and moulded article production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Exports of Rubber-to-Metal and Moulded Articles

Exports from Republic of Korea

In 2022, approx. X tons of rubber-to-metal and moulded articles were exported from South Korea; with a decrease of X% on 2021. In general, exports recorded a mild downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, rubber-to-metal and moulded article exports dropped modestly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), China (X tons) and the United States (X tons) were the main destinations of rubber-to-metal and moulded article exports from South Korea, with a combined X% share of total exports. India, Japan, Vietnam, the Czech Republic, Slovakia, Poland, Indonesia, Brazil, Germany and Russia lagged somewhat behind, together comprising a further X%.

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

In value terms, China ($X), the United States ($X) and Mexico ($X) appeared to be the largest markets for rubber-to-metal and moulded article exported from South Korea worldwide, together accounting for X% of total exports. India, Vietnam, Japan, Slovakia, Indonesia, the Czech Republic, Poland, Germany, Brazil and Russia lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Poland, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average rubber-to-metal and moulded article export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the Czech Republic ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rubber-to-Metal and Moulded Articles

Imports into Republic of Korea

In 2022, the amount of rubber-to-metal and moulded articles imported into South Korea totaled X tons, picking up by X% against the previous year's figure. The total import volume increased at an average annual rate of X% 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 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, rubber-to-metal and moulded article imports reduced 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 pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

China (X tons), Vietnam (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of rubber-to-metal and moulded article imports to South Korea, with a combined X% share of total imports. Singapore, Japan, Thailand, the United States and Germany lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest rubber-to-metal and moulded article suppliers to South Korea were China ($X), Vietnam ($X) and Singapore ($X), together comprising X% of total imports.

In terms of the main suppliers, Singapore, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average rubber-to-metal and moulded article import price amounted to $X per ton, dropping by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then shrank in the following year.

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 ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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