Republic of Korea: Prefabricated Buildings Market 2024

Prefabricated Buildings Market Size in Republic of Korea

The South Korean prefabricated buildings market expanded to $X in 2022, picking up by X% against the previous year. Overall, consumption enjoyed strong growth. Prefabricated buildings consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Prefabricated Buildings Production in Republic of Korea

In value terms, prefabricated buildings production stood at $X in 2022 estimated in export price. In general, production showed a strong increase. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Prefabricated Buildings Exports

Exports from Republic of Korea

In 2022, overseas shipments of prefabricated buildings decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, prefabricated buildings exports shrank rapidly to $X in 2022. In general, exports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), Malaysia (X tons) and Japan (X tons) were the main destinations of prefabricated buildings exports from South Korea, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Taiwan (Chinese) ($X) and the Philippines ($X) constituted the largest markets for prefabricated buildings exported from South Korea worldwide, together comprising X% of total exports.

Taiwan (Chinese), 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

The average prefabricated buildings export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

Prefabricated Buildings Imports

Imports into Republic of Korea

In 2022, approx. X tons of prefabricated buildings were imported into South Korea; growing by X% on the previous year. Over the period under review, imports posted a moderate increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, prefabricated buildings imports skyrocketed to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest prefabricated buildings supplier to South Korea, with a X% share of total imports. Moreover, prefabricated buildings imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. Japan (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 Netherlands (X% per year) and Japan (X% per year).

In value terms, China ($X), the Netherlands ($X) and the United States ($X) constituted the largest prefabricated buildings suppliers to South Korea, together comprising X% of total imports. Japan, Israel, Finland and Russia lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Russia, with a CAGR of X%, recorded 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

The average prefabricated buildings import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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