Republic of Korea: Market for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides 2024

Market Size for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides in Republic of Korea

In 2022, the South Korean high-tenacity filament nylon yarn market increased by 26% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, saw a perceptible descent. High-tenacity filament nylon yarn consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides in Republic of Korea

In value terms, high-tenacity filament nylon yarn production amounted to $X in 2022 estimated in export price. In general, production, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2017 when the production volume increased by 88%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Exports from Republic of Korea

In 2022, the amount of high-tenacity filament yarn of nylon or other polyamides exported from South Korea contracted sharply to X tons, dropping by -37.2% compared with the year before. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 61%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, high-tenacity filament nylon yarn exports contracted dramatically to $X in 2022. Over the period under review, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 64% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for high-tenacity filament nylon yarn exports from South Korea, accounting for a 37% share of total exports. Moreover, high-tenacity filament nylon yarn exports to Mexico exceeded the volume sent to the second major destination, the United States (X tons), twofold. China (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico totaled +36.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.9% per year) and China (+12.7% per year).

In value terms, Mexico ($X), the United States ($X) and Vietnam ($X) constituted the largest markets for high-tenacity filament nylon yarn exported from South Korea worldwide, with a combined 62% share of total exports. China, Romania, Indonesia, Italy, the UK, Turkey, Japan, Thailand and the Philippines lagged somewhat behind, together accounting for a further 25%.

Romania, with a CAGR of +54.1%, 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 more modest paces of growth.

Export Prices by Country

The average high-tenacity filament nylon yarn export price stood at $X per ton in 2022, with an increase of 32% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the Philippines ($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 Mexico (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Imports into Republic of Korea

High-tenacity filament nylon yarn imports into South Korea fell to X tons in 2022, declining by -7.5% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 26%. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, high-tenacity filament nylon yarn imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 52% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

China (X tons), Vietnam (X tons) and Canada (X tons) were the main suppliers of high-tenacity filament nylon yarn imports to South Korea, with a combined 85% share of total imports. Japan, Germany, the United States, Taiwan (Chinese) and the UK lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +28.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest high-tenacity filament nylon yarn suppliers to South Korea were China ($X), Vietnam ($X) and Canada ($X), with a combined 83% share of total imports. Japan, Germany, the United States, Taiwan (Chinese) and the UK lagged somewhat behind, together comprising a further 16%.

The United States, with a CAGR of +22.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average high-tenacity filament nylon yarn import price amounted to $X per ton, growing by 11% against the previous year. In general, the import price, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2021 an increase of 21% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :