Republic of Korea: Market for Woven Pile Fabrics And Chenille Fabrics 2022

Market Size for Woven Pile Fabrics And Chenille Fabrics in Republic of Korea

The South Korean pile and chenille fabric market soared to $X in 2021, picking up by X% against the previous year. In general, consumption recorded a resilient expansion. Pile and chenille fabric consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Woven Pile Fabrics And Chenille Fabrics in Republic of Korea

In value terms, pile and chenille fabric production expanded markedly to $X in 2021 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Woven Pile Fabrics And Chenille Fabrics

Exports from Republic of Korea

After three years of growth, shipments abroad of woven pile fabrics and chenille fabrics decreased by -X% to X tons in 2021. The total export volume increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports attained the peak of X tons; afterwards, it flattened through to 2021.

In value terms, pile and chenille fabric exports declined to $X in 2021. In general, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2020, and then shrank in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for pile and chenille fabric exports from South Korea, accounting for a X% share of total exports. Moreover, pile and chenille fabric exports to the United Arab Emirates exceeded the volume sent to the second major destination, China (X tons), ninefold. Indonesia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-X% per year) and Indonesia (-X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for pile and chenille fabric exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Indonesia (+X% per year).

Export Prices by Country

The average pile and chenille fabric export price stood at $X per ton in 2021, declining by -X% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pile and chenille fabric export price increased by +X% against 2012 indices. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then dropped slightly in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Woven Pile Fabrics And Chenille Fabrics

Imports into Republic of Korea

Pile and chenille fabric imports into South Korea amounted to X tons in 2021, picking up by X% compared with 2020. Over the period under review, imports continue to indicate prominent growth. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, pile and chenille fabric imports reached $X in 2021. Overall, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -X% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest pile and chenille fabric supplier to South Korea, accounting for a X% share of total imports. Moreover, pile and chenille fabric imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +X%.

In value terms, China ($X) constituted the largest supplier of pile and chenille fabric to South Korea, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +X%.

Import Prices by Country

The average pile and chenille fabric import price stood at $X per ton in 2021, surging by X% against the previous year. Overall, the import price, however, faced a drastic downturn. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-X%).

Source: IndexBox Market Intelligence Platform

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