Republic of Korea: Cotton Linters Market 2024

Cotton Linters Market Size in Republic of Korea

In 2021, the South Korean cotton linters market decreased by -8.1% to $X, falling for the third consecutive year after two years of growth. Overall, consumption, however, continues to indicate a strong increase. Cotton linters consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Cotton Linters Production in Republic of Korea

In value terms, cotton linters production contracted to $X in 2021 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +83.6% against 2012 indices. The growth pace was the most rapid in 2020 with an increase of 19% against the previous year. As a result, production attained the peak level of $X, and then shrank in the following year.

Cotton Linters Exports

Exports from Republic of Korea

In 2021, overseas shipments of cotton linters were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a abrupt curtailment. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cotton linters exports skyrocketed to $X in 2021. In general, exports, however, recorded a drastic downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for cotton linters exports from South Korea, with a 75% share of total exports. Moreover, cotton linters exports to China exceeded the volume sent to the second major destination, Kyrgyzstan (X kg), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (0.0% per year) and Singapore (-42.7% per year).

In value terms, Kyrgyzstan ($X) emerged as the key foreign market for cotton linters exports from South Korea, comprising 63% of total exports. The second position in the ranking was held by China ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Kyrgyzstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-17.5% per year) and Singapore (-22.8% per year).

Export Prices by Country

The average cotton linters export price stood at $X per ton in 2021, falling by -6.6% against the previous year. Overall, the export price, however, recorded buoyant growth. The growth pace was the most rapid in 2019 an increase of 83%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to China ($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 Singapore (+34.1%).

Cotton Linters Imports

Imports into Republic of Korea

After two years of decline, supplies from abroad of cotton linters increased by 0.1% to X tons in 2021. Overall, imports recorded tangible growth. The growth pace was the most rapid in 2013 with an increase of 910% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, cotton linters imports amounted to $X in 2021. In general, imports showed mild growth. The pace of growth appeared the most rapid in 2014 when imports increased by 762%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Brazil (X tons), Pakistan (X tons) and India (X tons) were the main suppliers of cotton linters imports to South Korea, together accounting for 100% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +33.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Brazil ($X), Pakistan ($X) and India ($X) appeared to be the largest cotton linters suppliers to South Korea, with a combined 100% share of total imports.

In terms of the main suppliers, Pakistan, with a CAGR of +29.5%, 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 a decline.

Import Prices by Country

The average cotton linters import price stood at $X per ton in 2021, standing approx. at the previous year. Overall, the import price continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2014 an increase of 66%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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