Report Update Jan 1, 2025

Republic of Korea - Hemp Tow - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Hemp Tow Market 2025

Hemp Tow Market Size in Republic of Korea

In 2022, the South Korean hemp tow market increased by 61% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption enjoyed a significant expansion. Hemp tow consumption peaked in 2022 and is expected to retain growth in the near future.

Hemp Tow Production in Republic of Korea

In value terms, hemp tow production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 56% against the previous year. Hemp tow production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

In 2022, the average hemp tow yield in South Korea soared to X tons per ha, rising by 18% compared with 2021 figures. Over the period under review, the yield showed a significant increase. The growth pace was the most rapid in 2021 with an increase of 179%. Over the period under review, the average hemp tow yield hit record highs in 2022 and is likely to continue growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of hemp tow were harvested in South Korea; approximately reflecting 2021 figures. Overall, the harvested area recorded a slight increase. The most prominent rate of growth was recorded in 2013 when the harvested area increased by 20% against the previous year. The hemp tow harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area remained at a lower figure.

Hemp Tow Exports

Exports from Republic of Korea

In 2022, shipments abroad of hemp tow decreased by -98.9% to X kg for the first time since 2015, thus ending a six-year rising trend. Overall, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2019 when exports increased by 604%. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped sharply in the following year.

In value terms, hemp tow exports fell dramatically to $X in 2022. In general, exports faced a abrupt slump. The pace of growth was the most pronounced in 2017 when exports increased by 220% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced markedly in the following year.

Exports by Country

China (X kg) was the main destination for hemp tow exports from South Korea, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at -7.4%.

In value terms, China ($X) also remains the key foreign market for hemp tow exports from South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -11.2%.

Export Prices by Country

The average hemp tow export price stood at $X per ton in 2022, with an increase of 206% against the previous year. Overall, the export price, however, recorded a noticeable slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -4.1% per year.

Hemp Tow Imports

Imports into Republic of Korea

In 2022, imports of hemp tow into South Korea fell markedly to X kg, dropping by -50.1% compared with 2021 figures. In general, imports recorded a dramatic slump. The pace of growth was the most pronounced in 2017 with an increase of 2,385%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, hemp tow imports declined significantly to $X in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 1,564%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X kg) was the main hemp tow supplier to South Korea, accounting for a 97% share of total imports. It was followed by Germany (X kg), with a 3.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -5.2%.

In value terms, China ($X) constituted the largest supplier of hemp tow to South Korea, comprising 99% of total imports. The second position in the ranking was taken by Germany ($X), with a 0.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -16.4%.

Import Prices by Country

In 2022, the average hemp tow import price amounted to $X per ton, rising by 65% against the previous year. Overall, the import price continues to indicate a modest expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 147% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hemp tow in the world?

The countries with the highest volumes of hemp tow consumption in 2020 were France, China and Democratic People's Republic of Korea, together accounting for 75% of global consumption. Poland, Spain, Austria and Chile lagged somewhat behind, together comprising a further 16%.

What are the largest producers of hemp tow in the world?

The countries with the highest volumes of hemp tow production in 2020 were France, China and Democratic People's Republic of Korea, together comprising 76% of global production. Poland, the Netherlands, Austria and Italy lagged somewhat behind, together accounting for a further 16%.

What are the leading suppliers of hemp tow to Republic of Korea?

In value terms, the largest hemp tow suppliers to South Korea were France, the UK and Germany $837), with a combined 93% share of total imports. These countries were followed by Lithuania and Canada, which together accounted for a further 5.8%.

What are the leading importers of hemp tow from Republic of Korea?

In value terms, China remains the key foreign market for hemp tow exports from South Korea, comprising 86% of total exports. The second position in the ranking was occupied by Vietnam $460), with a 14% share of total exports.

What is the average export price for hemp tow in Republic of Korea?

The average hemp tow export price stood at $9,529 per ton in 2020, with an increase of 19% against the previous year.

What is the average import price for hemp tow in Republic of Korea?

The average hemp tow import price stood at $7,508 per ton in 2020, picking up by 23% against the previous year.

This report provides an in-depth analysis of the hemp tow 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 777 - Hemp 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:

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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
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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 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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, 2012–2024
23. Production, In Value Terms, 2012–2024
24. Area Harvested, 2012–2024
25. Yield, 2012–2024
26. Imports, In Physical Terms, 2012–2024
27. Imports, In Value Terms, 2012–2024
28. Imports, In Physical Terms, By Country, 2024
29. Imports, In Physical Terms, By Country, 2012–2024
30. Imports, In Value Terms, By Country, 2012–2024
31. Import Prices, By Country Of Origin, 2012–2024
32. Exports, In Physical Terms, 2012–2024
33. Exports, In Value Terms, 2012–2024
34. Exports, In Physical Terms, By Country, 2024
35. Exports, In Physical Terms, By Country, 2012–2024
36. Exports, In Value Terms, By Country, 2012–2024
37. Export Prices, By Country Of Destination, 2012–2024