Republic of Korea: Book Cover Market 2024

Book Cover Market Size in Republic of Korea

The South Korean book cover market dropped modestly to $X in 2022, which is down by -3.9% against the previous year. Over the period under review, consumption saw a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 9.8% against the previous year. Book cover consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Book Cover Production in Republic of Korea

In value terms, book cover production reduced slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 10% against the previous year. Book cover production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Book Cover Exports

Exports from Republic of Korea

In 2022, the amount of blotting pads and book covers exported from South Korea rose notably to X tons, growing by 6.6% against the year before. In general, exports saw a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 49%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, book cover exports rose modestly to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 43% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), the United States (X tons) and the Philippines (X tons) were the main destinations of book cover exports from South Korea, with a combined 75% share of total exports. Thailand, China, South Africa, Russia and Hong Kong SAR lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +90.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for blotting pads and book covers exports from South Korea, comprising 40% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by the Philippines, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-8.4% per year) and the Philippines (+21.4% per year).

Export Prices by Country

In 2022, the average book cover export price amounted to $X per ton, declining by -2.1% against the previous year. Over the period under review, the export price recorded a abrupt slump. The pace of growth appeared the most rapid in 2021 when the average export price increased by 3.8% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Thailand ($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 (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Book Cover Imports

Imports into Republic of Korea

After four years of decline, purchases abroad of blotting pads and book covers increased by 22% to X tons in 2022. In general, imports, however, showed a slight slump. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, book cover imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 24% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest book cover supplier to South Korea, accounting for a 73% share of total imports. Moreover, book cover imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), sevenfold. The third position in this ranking was held by Japan (X tons), with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+16.0% per year) and Japan (-6.3% per year).

In value terms, China ($X) constituted the largest supplier of blotting pads and book covers to South Korea, comprising 47% of total imports. The second position in the ranking was held by France ($X), with a 20% share of total imports. It was followed by Japan, with a 12% 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: France (+18.2% per year) and Japan (-1.1% per year).

Import Prices by Country

The average book cover import price stood at $X per ton in 2022, reducing by -10.9% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, book cover import price increased by +42.0% against 2017 indices. The growth pace was the most rapid in 2018 when the average import price increased by 30%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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