Republic of Korea: Envelope Market 2024

Envelope Market Size in Republic of Korea

The South Korean envelope market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, showed a noticeable setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Envelope Production in Republic of Korea

In value terms, envelope production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, recorded a noticeable curtailment. Envelope production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Envelope Exports

Exports from Republic of Korea

In 2021, after two years of decline, there was significant growth in shipments abroad of envelopes, when their volume increased by 252% to X tons. Over the period under review, exports posted a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, envelope exports soared to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons), the United States (X tons) and Australia (X tons) were the main destinations of envelope exports from South Korea, together comprising 66% of total exports. Ghana, China, Saudi Arabia, Bangladesh, Congo and Vietnam lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +90.8%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for envelopes exports from South Korea, comprising 59% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by Australia, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+3.5% per year) and Australia (-0.7% per year).

Export Prices by Country

In 2021, the average envelope export price amounted to $X per ton, reducing by -29.2% against the previous year. Over the period under review, the export price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 an increase of 60% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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 Japan ($X per ton), while the average price for exports to Ghana ($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 Bangladesh (+5.1%), while the prices for the other major destinations experienced a decline.

Envelope Imports

Imports into Republic of Korea

In 2021, approx. X tons of envelopes were imported into South Korea; picking up by 8.9% compared with the previous year's figure. Overall, imports saw a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by 438%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, envelope imports skyrocketed to $X in 2021. In general, imports showed prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 348%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of envelope to South Korea, with a 84% share of total imports. Moreover, envelope imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. France (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.7% per year) and France (+9.5% per year).

In value terms, China ($X) constituted the largest supplier of envelopes to South Korea, comprising 73% of total imports. The second position in the ranking was taken by Italy ($X), with a 12% share of total imports. It was followed by France, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.9% per year) and France (+13.3% per year).

Import Prices by Country

In 2021, the average envelope import price amounted to $X per ton, rising by 27% against the previous year. In general, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, envelope import price increased by +48.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 65%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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