Republic of Korea: Market for Extruded Solid Rubber Rods And Profiles 2025

Market Size for Extruded Solid Rubber Rods And Profiles in Republic of Korea

The South Korean extruded solid rubber rod market rose modestly to $X in 2022, increasing by 2.4% against the previous year. Over the period under review, consumption, however, recorded a abrupt decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Extruded Solid Rubber Rods And Profiles in Republic of Korea

In value terms, extruded solid rubber rod production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 56% against the previous year. Extruded solid rubber rod production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Republic of Korea

In 2022, the amount of extruded solid rubber rods and profiles exported from South Korea contracted significantly to X tons, waning by -17.1% against the year before. Over the period under review, exports showed a abrupt descent. The growth pace was the most rapid in 2018 when exports increased by 63%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, extruded solid rubber rod exports shrank sharply to $X in 2022. In general, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), Brazil (X tons) and China (X tons) were the main destinations of extruded solid rubber rod exports from South Korea, together accounting for 61% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +55.1%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), China ($X) and Saudi Arabia ($X) were the largest markets for extruded solid rubber rod exported from South Korea worldwide, together accounting for 62% of total exports.

Among the main countries of destination, Brazil, with a CAGR of +57.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average extruded solid rubber rod export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2017 when the average export price increased by 35% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Nigeria ($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 Vietnam (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Republic of Korea

In 2022, imports of extruded solid rubber rods and profiles into South Korea reduced notably to X tons, dropping by -21.6% against 2021 figures. Over the period under review, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2020 when imports increased by 24% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, extruded solid rubber rod imports contracted slightly to $X in 2022. In general, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 14%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of extruded solid rubber rod imports to South Korea, together accounting for 83% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +10.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest extruded solid rubber rod suppliers to South Korea were China ($X), the United States ($X) and Germany ($X), with a combined 55% share of total imports.

The United States, with a CAGR of +3.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average extruded solid rubber rod import price amounted to $X per ton, increasing by 27% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, extruded solid rubber rod import price increased by +54.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 35%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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