Republic of Korea: Market for Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap 2024

Market Size for Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap in Republic of Korea

The South Korean market for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap rose remarkably to $X in 2021, surging by 11% 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). Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.6% against 2019 indices. Consumption of peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap

Exports from Republic of Korea

In 2021, shipments abroad of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap increased by 2.8% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 138% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap soared to $X in 2021. Overall, exports recorded a measured increase. The most prominent rate of growth was recorded in 2018 with an increase of 130% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main destinations of exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap from South Korea, with a combined 59% share of total exports. These countries were followed by Thailand, Hong Kong SAR, Vietnam, Taiwan (Chinese), Singapore, the Philippines, the United Arab Emirates and Germany, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +24.8%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap exports from South Korea, comprising 54% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by Japan, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+22.0% per year) and Japan (-15.7% per year).

Export Prices by Country

The average export price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap stood at $X per ton in 2021, jumping by 22% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +11.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap increased by +71.8% against 2016 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 36%. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Philippines ($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 China (+21.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap

Imports into Republic of Korea

In 2021, the amount of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap imported into South Korea rose to X tons, increasing by 4.2% on the previous year. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 11%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap rose sharply to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.9% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by 19% against the previous year. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap to South Korea, accounting for a 77% share of total imports. Moreover, imports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+15.1% per year) and Indonesia (+11.2% per year).

In value terms, the largest footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap suppliers to South Korea were China ($X), Vietnam ($X) and Indonesia ($X), together accounting for 90% of total imports.

In terms of the main suppliers, Indonesia, with a CAGR of +14.6%, 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 import price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap stood at $X per ton in 2021, growing by 8.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 8.4% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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