Republic of Korea: Plastic Extruder Market 2024

Plastic Extruder Market Size in Republic of Korea

The South Korean plastic extruder market shrank remarkably to $X in 2021, waning by -44.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a measured increase. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Plastic Extruder Exports

Exports from Republic of Korea

In 2021, the amount of extruders for working rubber or plastics exported from South Korea rose markedly to X units, increasing by 8.2% against 2020 figures. Overall, exports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 46%. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, plastic extruder exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a abrupt shrinkage. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for plastic extruder exports from South Korea, with a 45% share of total exports. Moreover, plastic extruder exports to China exceeded the volume sent to the second major destination, Mexico (X units), fourfold. The third position in this ranking was taken by India (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+14.4% per year) and India (+2.8% per year).

In value terms, China ($X), Vietnam ($X) and Mexico ($X) appeared to be the largest markets for plastic extruder exported from South Korea worldwide, with a combined 60% share of total exports.

Mexico, with a CAGR of +17.1%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average plastic extruder export price stood at $X per unit in 2021, rising by 44% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic extruder export price increased by +69.4% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Extruder Imports

Imports into Republic of Korea

In 2021, the amount of extruders for working rubber or plastics imported into South Korea contracted markedly to X units, with a decrease of -41.4% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2020 with an increase of 98% against the previous year. As a result, imports reached the peak of X units, and then reduced rapidly in the following year.

In value terms, plastic extruder imports dropped significantly to $X in 2021. Overall, imports continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2020 with an increase of 111%. As a result, imports attained the peak of $X, and then dropped remarkably in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of plastic extruder to South Korea, accounting for a 74% share of total imports. Moreover, plastic extruder imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), ninefold. The third position in this ranking was held by Germany (X units), with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.1% per year) and Germany (-7.7% per year).

In value terms, the largest plastic extruder suppliers to South Korea were China ($X), Japan ($X) and Germany ($X), with a combined 80% share of total imports.

In terms of the main suppliers, China, with a CAGR of +16.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastic extruder import price stood at $X per unit in 2021, declining by -5.1% against the previous year. Over the period under review, the import price saw a deep downturn. The most prominent rate of growth was recorded in 2017 an increase of 25% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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