Republic of Korea: Narrow Woven Fabric Market 2024

Narrow Woven Fabric Market Size in Republic of Korea

The South Korean narrow woven fabric market contracted modestly to $X in 2022, waning by X% against the previous year. In general, consumption, however, saw a mild setback. Narrow woven fabric consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Narrow Woven Fabric Production in Republic of Korea

In value terms, narrow woven fabric production fell to $X in 2022 estimated in export price. In general, production showed a perceptible descent. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Narrow Woven Fabric Exports

Exports from Republic of Korea

In 2022, narrow woven fabric exports from South Korea declined to X tons, reducing by X% on 2021. In general, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, narrow woven fabric exports dropped to $X in 2022. Over the period under review, exports recorded a perceptible downturn. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Vietnam (X tons) and Canada (X tons) were the main destinations of narrow woven fabric exports from South Korea, with a combined X% share of total exports. Indonesia, Japan, Mexico, China, the Philippines, India, Bangladesh, Myanmar, Nicaragua and Guatemala lagged somewhat behind, together accounting for a further X%.

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

In value terms, Vietnam ($X), the United States ($X) and Indonesia ($X) appeared to be the largest markets for narrow woven fabric exported from South Korea worldwide, together comprising X% of total exports. Canada, China, the Philippines, Bangladesh, Japan, Mexico, Nicaragua, India, Guatemala and Myanmar lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, recorded 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 2022, the average narrow woven fabric export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to the United States ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Narrow Woven Fabric Imports

Imports into Republic of Korea

In 2022, the amount of narrow woven fabrics imported into South Korea skyrocketed to X tons, jumping by X% compared with 2021. 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, narrow woven fabric imports totaled $X in 2022. The total import value 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 in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of narrow woven fabric to South Korea, with a X% share of total imports. Moreover, narrow woven fabric imports from China exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), twofold. Vietnam (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, 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: the Philippines (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of narrow woven fabrics to South Korea, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total imports. It was followed by Vietnam, with an X% share.

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

Import Prices by Country

The average narrow woven fabric import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :