Republic of Korea: Market for Button Blanks & Button Moulds 2024

Market Size for Button Blanks & Button Moulds in Republic of Korea

In 2022, after two years of decline, there was significant growth in the South Korean button blanks and moulds market, when its value increased by 7.4% to $X. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Button Blanks & Button Moulds in Republic of Korea

In value terms, button blanks and moulds production totaled $X in 2022 estimated in export price. In general, production showed a prominent expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 181%. Button blanks and moulds production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Button Blanks & Button Moulds

Exports from Republic of Korea

In 2022, the amount of button blanks & button moulds exported from South Korea reduced remarkably to X tons, dropping by -31.2% against the year before. Overall, exports showed a mild setback. The most prominent rate of growth was recorded in 2020 when exports increased by 91% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, button blanks and moulds exports declined to $X in 2022. Over the period under review, exports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2016 with an increase of 44% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for button blanks and moulds exports from South Korea, with a 52% share of total exports. Moreover, button blanks and moulds exports to Indonesia exceeded the volume sent to the second major destination, Japan (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia stood at +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-10.0% per year) and Vietnam (-6.7% per year).

In value terms, Japan ($X) remains the key foreign market for button blanks & button moulds exports from South Korea, comprising 68% of total exports. The second position in the ranking was held by Indonesia ($X), with a 14% share of total exports. It was followed by Bangladesh, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+39.4% per year) and Bangladesh (+44.5% per year).

Export Prices by Country

The average button blanks and moulds export price stood at $X per ton in 2022, with an increase of 37% against the previous year. In general, the export price, however, saw a mild downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by 73%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 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 Japan ($X per ton), while the average price for exports to Indonesia ($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 Japan (+5.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Button Blanks & Button Moulds

Imports into Republic of Korea

In 2022, after two years of decline, there was significant growth in overseas purchases of button blanks & button moulds, when their volume increased by 16% to X tons. Overall, imports, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2014 with an increase of 24%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, button blanks and moulds imports rose significantly to $X in 2022. Over the period under review, imports, however, saw a mild reduction. The growth pace was the most rapid in 2014 when imports increased by 19%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest button blanks and moulds supplier to South Korea, with a 68% share of total imports. Moreover, button blanks and moulds imports from India exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), sixfold. Indonesia (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-8.7% per year) and Indonesia (+3.8% per year).

In value terms, India ($X) constituted the largest supplier of button blanks & button moulds to South Korea, comprising 57% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 25% share of total imports. It was followed by Vietnam, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+1.9% per year) and Vietnam (+3.4% per year).

Import Prices by Country

The average button blanks and moulds import price stood at $X per ton in 2022, waning by -5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2017 an increase of 24%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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