Republic of Korea: Market for Bed Linen Of Other Woven Textiles And Non-Woven Man-Made Fibres 2024

Market Size for Bed Linen Of Other Woven Textiles And Non-Woven Man-Made Fibres in Republic of Korea

After two years of growth, the South Korean market for bed linen of other woven textiles and non-woven man-made fibres decreased by -13.3% to $X in 2022. Overall, consumption, however, posted significant growth. Over the period under review, the market hit record highs at $X in 2021, and then contracted in the following year.

Exports of Bed Linen Of Other Woven Textiles And Non-Woven Man-Made Fibres

Exports from Republic of Korea

For the third consecutive year, South Korea recorded decline in overseas shipments of bed linen of other woven textiles and non-woven man-made fibres, which decreased by -28.8% to X tons in 2022. Overall, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2019 when exports increased by 1,120% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of bed linen of other woven textiles and non-woven man-made fibres reduced sharply to $X in 2022. In general, exports, however, posted a temperate increase. The most prominent rate of growth was recorded in 2014 when exports increased by 212%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for exports of bed linen of other woven textiles and non-woven man-made fibres from South Korea, with a 30% share of total exports. Moreover, exports of bed linen of other woven textiles and non-woven man-made fibres to Vietnam exceeded the volume sent to the second major destination, Japan (X tons), twofold. The United States (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam stood at +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+14.7% per year) and the United States (+2.4% per year).

In value terms, Vietnam ($X), the United States ($X) and China ($X) were the largest markets for bed linen of other woven textiles and non-woven man-made fibres exported from South Korea worldwide, with a combined 34% share of total exports. Japan, Taiwan (Chinese), Singapore, Norway, Hong Kong SAR, Mexico and the United Arab Emirates lagged somewhat behind, together comprising a further 51%.

Singapore, with a CAGR of +44.0%, saw the highest rates of growth with regard to 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 export price for bed linen of other woven textiles and non-woven man-made fibres amounted to $X per ton, growing by 15% against the previous year. Overall, the export price enjoyed a buoyant increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 465%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United Arab Emirates ($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 China (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bed Linen Of Other Woven Textiles And Non-Woven Man-Made Fibres

Imports into Republic of Korea

After six years of growth, purchases abroad of bed linen of other woven textiles and non-woven man-made fibres decreased by -16.5% to X tons in 2022. Over the period under review, imports, however, saw buoyant growth. The growth pace was the most rapid in 2013 when imports increased by 114%. Over the period under review, imports of reached the peak figure at X tons in 2021, and then dropped notably in the following year.

In value terms, imports of bed linen of other woven textiles and non-woven man-made fibres contracted to $X in 2022. Overall, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 56% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bed linen of other woven textiles and non-woven man-made fibres to South Korea, with a 88% share of total imports. Moreover, imports of bed linen of other woven textiles and non-woven man-made fibres from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +16.6%.

In value terms, China ($X) constituted the largest supplier of bed linen of other woven textiles and non-woven man-made fibres to South Korea, comprising 84% of total imports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +22.1%.

Import Prices by Country

The average import price for bed linen of other woven textiles and non-woven man-made fibres stood at $X per ton in 2022, rising by 5.7% against the previous year. In general, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for bed linen of other woven textiles and non-woven man-made fibres increased by +12.2% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 50% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.7%).

Source: IndexBox Platform

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