Report Update Nov 1, 2024

Republic of Korea - Flax Fiber - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Flax Fiber Market 2024

Flax Fiber Market Size in Republic of Korea

The South Korean flax fiber market soared to $X in 2022, picking up by 16% 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 showed a prominent expansion. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Flax Fiber Exports

Exports from Republic of Korea

After two years of decline, overseas shipments of flax fiber decreased by -50% to X tons in 2022. In general, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 2,692%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, flax fiber exports reduced markedly to $X in 2022. Overall, exports, however, saw a prominent increase. The pace of growth was the most pronounced in 2019 when exports increased by 480%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Zambia (X kg), China (X kg) and Vietnam (X kg) were the main destinations of flax fiber exports from South Korea, with a combined 72% share 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 China (with a CAGR of +83.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for flax fiber exported from South Korea were China ($X), Indonesia ($X) and Vietnam ($X), with a combined 61% share of total exports.

In terms of the main countries of destination, Indonesia, with a CAGR of +59.5%, recorded the highest rates of growth with regard to 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

In 2022, the average flax fiber export price amounted to $X per ton, approximately equating the previous year. Over the period under review, the export price recorded temperate growth. The most prominent rate of growth was recorded in 2019 a decrease of -79.2%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Zambia ($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 Indonesia (+30.1%), while the prices for the other major destinations experienced mixed trend patterns.

Flax Fiber Imports

Imports into Republic of Korea

In 2022, approx. X tons of flax fiber were imported into South Korea; growing by 6.5% against 2021 figures. In general, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 116% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, flax fiber imports rose remarkably to $X in 2022. Overall, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 154%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, France (X tons) constituted the largest flax fiber supplier to South Korea, accounting for a 17% share of total imports. Moreover, flax fiber imports from France exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume from France amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-1.1% per year) and Italy (+75.4% per year).

In value terms, Italy ($X) constituted the largest supplier of flax fiber to South Korea, comprising 24% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 9.3% share of total imports. It was followed by France, with a 2.2% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +47.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+1.0% per year) and France (-7.3% per year).

Import Prices by Country

The average flax fiber import price stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price, however, continues to indicate a prominent increase. The growth pace was the most rapid in 2017 when the average import price increased by 55%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+24.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for flax fiber in the world?

France constituted the country with the largest volume of flax fiber consumption, accounting for 57% of total volume. Moreover, flax fiber consumption in France exceeded the figures recorded by the second-largest consumer, China, threefold. The third position in this ranking was occupied by Russia, with a 4.3% share.

What are the largest producers of flax fiber in the world?

France remains the largest flax fiber producing country worldwide, accounting for 75% of total volume. Moreover, flax fiber production in France exceeded the figures recorded by the second-largest producer, Belgium, sevenfold. The third position in this ranking was occupied by Belarus, with a 4.4% share.

What are the leading suppliers of flax fiber to Republic of Korea?

In value terms, the largest flax fiber suppliers to South Korea were Belgium and China.

What is the average export price for flax fiber in Republic of Korea?

The average flax fiber export price stood at $4,501 per ton in 2019, falling by -79.2% against the previous year.

What is the average import price for flax fiber in Republic of Korea?

In 2020, the average flax fiber import price amounted to $5,867 per ton, declining by -3.6% against the previous year.

This report provides an in-depth analysis of the flax fiber market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 773 - Flax fibre and tow

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023