Republic of Korea: Market for Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips 2024

Market Size for Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips in Republic of Korea

The South Korean chain scoops and sliders market shrank to $X in 2022, declining by -4.8% against the previous year. In general, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.3% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips in Republic of Korea

In value terms, chain scoops and sliders production fell modestly to $X in 2022 estimated in export price. Overall, production, however, saw pronounced growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 146%. Chain scoops and sliders production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips

Exports from Republic of Korea

In 2022, exports of chain scoops, sliders, runners, end pieces and narrow strips from South Korea fell significantly to X tons, waning by -26.8% against the previous year. Over the period under review, exports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 116%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, chain scoops and sliders exports fell rapidly to $X in 2022. Overall, exports recorded a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of 108%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for chain scoops and sliders exports from South Korea, accounting for a 76% share of total exports. Moreover, chain scoops and sliders exports to Vietnam exceeded the volume sent to the second major destination, Indonesia (X tons), sixfold. The third position in this ranking was held by China (X tons), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+13.0% per year) and China (-23.2% per year).

In value terms, Vietnam ($X) remains the key foreign market for chain scoops, sliders, runners, end pieces and narrow strips exports from South Korea, comprising 69% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a 10% share of total exports. It was followed by Indonesia, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+2.6% per year) and Indonesia (+0.1% per year).

Export Prices by Country

The average chain scoops and sliders export price stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 11%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Indonesia ($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 Bangladesh (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips

Imports into Republic of Korea

In 2022, the amount of chain scoops, sliders, runners, end pieces and narrow strips imported into South Korea shrank dramatically to X tons, with a decrease of -19.7% on the previous year. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 65%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, chain scoops and sliders imports dropped dramatically to $X in 2022. Over the period under review, imports showed a abrupt slump. The pace of growth appeared the most rapid in 2021 when imports increased by 48%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Indonesia (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of chain scoops and sliders imports to South Korea, together comprising 81% of total imports. Japan and Vietnam lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +14.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), China ($X) and Taiwan (Chinese) ($X) were the largest chain scoops and sliders suppliers to South Korea, with a combined 76% share of total imports. Indonesia and Vietnam lagged somewhat behind, together accounting for a further 21%.

Vietnam, with a CAGR of +19.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chain scoops and sliders import price stood at $X per ton in 2022, increasing by 4.3% against the previous year. Over the period under review, the import price, however, recorded a perceptible decline. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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