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Republic of Korea - Yarn Of Wool - Market Analysis, Forecast, Size, Trends and Insights
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Republic of Korea: Woolen Yarn Market Overview 2021

Woolen Yarn Market Size in Republic of Korea

In 2020, the South Korean woolen yarn market increased by X% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Woolen yarn consumption peaked in 2020 and is likely to continue growth in the immediate term.

Woolen Yarn Production in Republic of Korea

In value terms, woolen yarn production amounted to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2011 with an increase of X% y-o-y. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2020, production stood at a somewhat lower figure.

Woolen Yarn Exports

Exports from Republic of Korea

In 2020, the amount of yarn of wool exported from South Korea declined significantly to X tonnes, which is down by -X% compared with the previous year's figure. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2011 when exports increased by X% against the previous year. As a result, exports reached the peak of X tonnes. From 2012 to 2020, the growth exports failed to regain the momentum.

In value terms, woolen yarn exports fell remarkably to $X in 2020. Overall, exports recorded a noticeable descent. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, exports attained the maximum at $X in 2012; however, from 2013 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Viet Nam (X tonnes), China (X tonnes) and Japan (X tonnes) were the main destinations of woolen yarn exports from South Korea, with a combined X% share of total exports.

From 2007 to 2020, the biggest increases were in Viet Nam (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for woolen yarn exported from South Korea were China ($X), Viet Nam ($X) and Japan ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Viet Nam (+X% per year) recorded the highest growth rate of 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

In 2020, the average woolen yarn export price amounted to $X per tonne, jumping by X% against the previous year. Over the period under review, export price indicated pronounced growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, woolen yarn export price increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% year-to-year. The export price peaked in 2020 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Hong Kong SAR ($X per tonne), while the average price for exports to Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Thailand, while the prices for the other major destinations experienced more modest paces of growth.

Woolen Yarn Imports

Imports into Republic of Korea

In 2020, purchases abroad of yarn of wool decreased by -X% to X tonnes for the first time since 2017, thus ending a two-year rising trend. In general, imports recorded a pronounced downturn. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Imports peaked at X tonnes in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

In value terms, woolen yarn imports declined rapidly to $X in 2020. Over the period under review, imports continue to indicate a slight descent. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, imports attained the maximum at $X in 2019, and then declined markedly in the following year.

Imports by Country

In 2020, India (X tonnes) constituted the largest supplier of woolen yarn to South Korea, with a X% share of total imports. Moreover, woolen yarn imports from India exceeded the figures recorded by the second-largest supplier, China (X tonnes), threefold. Italy (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from India stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Italy (-X% per year).

In value terms, Italy ($X), India ($X) and China ($X) constituted the largest woolen yarn suppliers to South Korea, with a combined X% share of total imports.

India saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2020, the average woolen yarn import price amounted to $X per tonne, approximately reflecting the previous year. Overall, import price indicated a perceptible expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, woolen yarn import price increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2011 an increase of X% against the previous year. The import price peaked in 2020 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Italy ($X per tonne), while the price for India ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Italy, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for yarn of wool in the world?
+
China (281K tonnes) constituted the country with the largest volume of woolen yarn consumption, accounting for 32% of total volume. Moreover, woolen yarn consumption in China exceeded the figures recorded by the second-largest consumer, India (51K tonnes), fivefold. The third position in this ranking was occupied by Indonesia (47K tonnes), with a 5.3% share.
What are the largest producers of yarn of wool in the world?
+
The country with the largest volume of woolen yarn production was China (303K tonnes), accounting for 34% of total volume. Moreover, woolen yarn production in China exceeded the figures recorded by the second-largest producer, India (57K tonnes), fivefold. The third position in this ranking was occupied by Italy (50K tonnes), with a 5.6% share.
What are the leading suppliers of yarn of wool to Republic of Korea?
+
In value terms, Italy ($18M), India ($18M) and China ($9M) appeared to be the largest woolen yarn suppliers to South Korea, with a combined 89% share of total imports.
What are the leading importers of yarn of wool from Republic of Korea?
+
In value terms, the largest markets for woolen yarn exported from South Korea were China ($6.5M), Viet Nam ($5.2M) and Japan ($2.1M), together comprising 73% of total exports.
What is the average export price for yarn of wool in Republic of Korea?
+
The average woolen yarn export price stood at $25,019 per tonne in 2020, rising by 27% against the previous year.
What is the average import price for yarn of wool in Republic of Korea?
+
In 2020, the average woolen yarn import price amounted to $24,971 per tonne, stabilizing at the previous year.

Product coverage:
• Prodcom 13105010 - Yarn of carded wool or fine animal hair, n.p.r.s.
• Prodcom 13105030 - Yarn of combed wool or fine animal hair, n.p.r.s.
• Prodcom 13105050 - Yarn of wool or fine animal hair, p.r.s.

This report provides an in-depth analysis of the woolen yarn market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• South Korea

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Republic of Korea
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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