Republic of Korea: Paperboard Case Material Market 2024

Paperboard Case Material Market Size in Republic of Korea

After two years of growth, the South Korean paperboard case material market decreased by -0.1% to $X in 2022. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Paperboard Case Material Production in Republic of Korea

In value terms, paperboard case material production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% 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 2017 with an increase of 28%. Paperboard case material production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Paperboard Case Material Exports

Exports from Republic of Korea

In 2022, overseas shipments of paperboard case materials decreased by -10.4% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of 66% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, paperboard case material exports dropped to $X in 2022. Over the period under review, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 61%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

China (X tons) was the main destination for paperboard case material exports from South Korea, accounting for a 88% share of total exports. Moreover, paperboard case material exports to China exceeded the volume sent to the second major destination, Indonesia (X tons), more than tenfold. Malaysia (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +44.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+33.4% per year) and Malaysia (-16.7% per year).

In value terms, China ($X) remains the key foreign market for paperboard case materials exports from South Korea, comprising 86% of total exports. The second position in the ranking was held by Indonesia ($X), with a 3.7% share of total exports. It was followed by Vietnam, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +48.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+33.4% per year) and Vietnam (+38.9% per year).

Export Prices by Country

The average paperboard case material export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 41%. As a result, the export price reached the peak level of $X per ton, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($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 Malaysia (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Paperboard Case Material Imports

Imports into Republic of Korea

Paperboard case material imports into South Korea declined notably to X tons in 2022, waning by -46.6% on the previous year. In general, imports, however, continue to indicate a measured expansion. The pace of growth was the most pronounced in 2021 with an increase of 95%. As a result, imports reached the peak of X tons, and then contracted notably in the following year.

In value terms, paperboard case material imports fell remarkably to $X in 2022. Overall, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +21.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 69%. As a result, imports attained the peak of $X, and then contracted significantly in the following year.

Imports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main suppliers of paperboard case material imports to South Korea, together accounting for 62% of total imports. Russia, New Zealand, Taiwan (Chinese), Indonesia and Finland lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +14.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest paperboard case material suppliers to South Korea were the United States ($X), Japan ($X) and China ($X), with a combined 66% share of total imports. New Zealand, Russia, Taiwan (Chinese), Indonesia and Finland lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +14.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average paperboard case material import price stood at $X per ton in 2022, with an increase of 34% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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