Republic of Korea: Market for Wood Boxes, Crates and Cable Drums 2025

Market Size for Wood Boxes, Crates and Cable Drums in Republic of Korea

In 2022, the South Korean market for wood boxes, crates and cable drums decreased by -0.1% to $X, falling for the second consecutive year after two years of growth. Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.8% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Wood Boxes, Crates and Cable Drums in Republic of Korea

In value terms, wood box and cable drum production expanded slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 60%. Wood box and cable drum production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Wood Boxes, Crates and Cable Drums

Exports from Republic of Korea

In 2022, shipments abroad of wood boxes, crates and cable drums decreased by -11.7% to X units, falling for the second consecutive year after five years of growth. Overall, exports, however, enjoyed a modest increase. The pace of growth appeared the most rapid in 2020 when exports increased by 62%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wood box and cable drum exports shrank to $X in 2022. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 53%. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

The Netherlands (X units), the UK (X units) and the United States (X units) were the main destinations of wood box and cable drum exports from South Korea, with a combined 59% share of total exports. China, Brazil, Japan, Poland, the United Arab Emirates, Taiwan (Chinese), Sweden, India and Germany lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +104.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the UK ($X) and the United States ($X) were the largest markets for wood box and cable drum exported from South Korea worldwide, with a combined 59% share of total exports. China, Brazil, Japan, Poland, the United Arab Emirates, Taiwan (Chinese), Sweden, India and Germany lagged somewhat behind, together accounting for a further 35%.

In terms of the main countries of destination, Poland, with a CAGR of +115.5%, saw 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 2022, the average export price for wood boxes, crates and cable drums amounted to $X per unit, approximately equating the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood box and cable drum export price increased by +57.4% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 57%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($X per unit) and Taiwan (Chinese) ($X per unit), while the average price for exports to Sweden ($X per unit) and Poland ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Boxes, Crates and Cable Drums

Imports into Republic of Korea

In 2022, purchases abroad of wood boxes, crates and cable drums decreased by -18.8% to X units, falling for the second year in a row after two years of growth. In general, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 93% against the previous year. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, wood box and cable drum imports fell to $X in 2022. Overall, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 59%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of wood box and cable drum to South Korea, accounting for a 66% share of total imports. Moreover, wood box and cable drum imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), sixfold. The third position in this ranking was taken by Sweden (X units), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+138.0% per year) and Sweden (-9.2% per year).

In value terms, China ($X) constituted the largest supplier of wood boxes, crates and cable drums to South Korea, comprising 66% of total imports. The second position in the ranking was held by the Netherlands ($X), with an 11% share of total imports. It was followed by Sweden, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+152.4% per year) and Sweden (-4.3% per year).

Import Prices by Country

The average import price for wood boxes, crates and cable drums stood at $X per unit in 2022, increasing by 6.8% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood box and cable drum import price increased by +44.4% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 35%. Over the period under review, average import prices reached 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 countries with the highest prices were Brazil ($X per unit) and the Netherlands ($X per unit), while the price for China ($X per unit) and Sweden ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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