Republic of Korea: Extruded Rod Market 2022

Extruded Rod Market Size in Republic of Korea

In 2021, the South Korean extruded rod market decreased by -X% to $X, falling for the second consecutive year after two years of growth. In general, consumption saw a perceptible downturn. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Extruded Rod Production in Republic of Korea

In value terms, extruded rod production rose markedly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Extruded Rod Exports

Exports from Republic of Korea

Extruded rod exports from South Korea skyrocketed to X tons in 2021, jumping by X% against the previous year's figure. Overall, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, extruded rod exports expanded markedly to $X in 2021. The total export value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons), Uzbekistan (X tons) and Thailand (X tons) were the main destinations of extruded rod exports from South Korea, with a combined X% share of total exports. The Philippines, Russia, Angola and Indonesia lagged somewhat behind, together comprising a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X) remains the key foreign market for extruded rod exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Uzbekistan totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-X% per year) and Indonesia (+X% per year).

Export Prices by Country

In 2021, the average extruded rod export price amounted to $X per ton, reducing by -X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per ton), while the average price for exports to Thailand ($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 Uzbekistan (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Extruded Rod Imports

Imports into Republic of Korea

In 2021, overseas purchases of extruded rods and profile shapes of cellular vulcanised rubber decreased by -X% to X tons, falling for the second consecutive year after three years of growth. Overall, imports recorded a precipitous decline. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, extruded rod imports amounted to $X in 2021. In general, imports faced a sharp reduction. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Malaysia (X tons) and Belgium (X tons) were the main suppliers of extruded rod imports to South Korea, together accounting for X% of total imports. Germany, the UK, Russia and Spain lagged somewhat behind, together accounting for a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of extruded rod to South Korea, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and the UK (+X% per year).

Import Prices by Country

The average extruded rod import price stood at $X per ton in 2021, growing by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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