Republic of Korea: Camel-Back Strips Market 2024

Camel-Back Strips Market Size in Republic of Korea

The South Korean camel-back strips market shrank to $X in 2021, dropping by -11.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a buoyant expansion. Camel-back strips consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Camel-Back Strips Exports

Exports from Republic of Korea

In 2021, overseas shipments of camel-back strips for retreading rubber tires were finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a abrupt descent. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, camel-back strips exports skyrocketed to $X in 2021. Over the period under review, exports, however, faced a sharp reduction. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X tons), the United States (X tons) and Japan (X tons) were the main destinations of camel-back strips exports from South Korea, with a combined 82% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +19.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for camel-back strips exported from South Korea were Panama ($X), Japan ($X) and the United States ($X), together accounting for 77% of total exports.

Japan, with a CAGR of +32.7%, recorded the highest rates of growth with regard to the value of exports, among 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

The average camel-back strips export price stood at $X per ton in 2021, shrinking by -41.3% against the previous year. In general, the export price showed a noticeable shrinkage. The pace of growth was the most pronounced in 2020 when the average export price increased by 58%. As a result, the export price attained the peak level of $X per ton, and then reduced rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+10.6%), while the prices for the other major destinations experienced a decline.

Camel-Back Strips Imports

Imports into Republic of Korea

Camel-back strips imports into South Korea was estimated at X tons in 2021, picking up by 2.9% compared with the year before. Over the period under review, imports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 37% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, camel-back strips imports reached $X in 2021. Overall, imports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2019 when imports increased by 45% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of camel-back strips to South Korea, with a 78% share of total imports. Moreover, camel-back strips imports from Vietnam exceeded the figures recorded by the second-largest supplier, the United States (X tons), ninefold. The third position in this ranking was held by the UK (X kg), with less than 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Vietnam totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+11.1% per year) and the UK (+3.0% per year).

In value terms, the United States ($X) constituted the largest supplier of camel-back strips for retreading rubber tires to South Korea, comprising 55% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 23% share of total imports. It was followed by Hong Kong SAR, with a 1.6% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-1.0% per year) and Hong Kong SAR (-40.4% per year).

Import Prices by Country

In 2021, the average camel-back strips import price amounted to $X per ton, rising by 2.9% against the previous year. Over the period under review, the import price, however, saw a noticeable downturn. The pace of growth appeared the most rapid in 2014 an increase of 45% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+98.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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