Republic of Korea: Plastic Box Market 2024

Plastic Box Market Size in Republic of Korea

The South Korean plastic box market declined slightly to $X in 2022, approximately equating the previous year. The market value 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, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Plastic Box Production in Republic of Korea

In value terms, plastic box production dropped slightly to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable 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, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

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Plastic Box Exports

Exports from Republic of Korea

Plastic box exports from South Korea shrank slightly to X tons in 2022, approximately reflecting 2021 figures. Overall, total exports indicated a pronounced expansion from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, plastic box exports amounted 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 only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons) was the main destination for plastic box exports from South Korea, with a X% share of total exports. Moreover, plastic box exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the United States (X% per year).

In value terms, China ($X) remains the key foreign market for plastic boxes, cases, crates and similar packing articles exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average plastic box export price amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

Plastic Box Imports

Imports into Republic of Korea

In 2022, the amount of plastic boxes, cases, crates and similar packing articles imported into South Korea dropped modestly to X tons, approximately reflecting the previous year. Overall, total imports indicated measured growth from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, plastic box imports dropped slightly to $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 remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was 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 contracted modestly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plastic box supplier to South Korea, accounting for a X% share of total imports. Moreover, plastic box imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by Vietnam (X tons), 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: the United States (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of plastic boxes, cases, crates and similar packing articles to South Korea, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and the United States (X% per year).

Import Prices by Country

The average plastic box import price stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price saw a noticeable downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Hong Kong SAR ($X per ton), while the price for Mexico ($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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