Republic of Korea: Market for High-Tenacity Filament Yarn Of Polyesters 2024

Market Size for High-Tenacity Filament Yarn Of Polyesters in Republic of Korea

In 2021, the South Korean high-tenacity filament polyester yarn market increased by 144% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption enjoyed a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of High-Tenacity Filament Yarn Of Polyesters in Republic of Korea

In value terms, high-tenacity filament polyester yarn production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep slump. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Polyesters

Exports from Republic of Korea

In 2021, shipments abroad of high-tenacity filament yarn of polyesters increased by 2.7% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in 2018 with an increase of 14%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, high-tenacity filament polyester yarn exports expanded notably to $X in 2021. Over the period under review, exports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 21% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for high-tenacity filament polyester yarn exports from South Korea, accounting for a 43% share of total exports. Moreover, high-tenacity filament polyester yarn exports to the United States exceeded the volume sent to the second major destination, Romania (X tons), sixfold. The third position in this ranking was held by Brazil (X tons), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-0.7% per year) and Brazil (-10.2% per year).

In value terms, the United States ($X) remains the key foreign market for high-tenacity filament yarn of polyesters exports from South Korea, comprising 40% of total exports. The second position in the ranking was taken by Romania ($X), with a 9.8% share of total exports. It was followed by Brazil, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-2.5% per year) and Brazil (-14.0% per year).

Export Prices by Country

In 2021, the average high-tenacity filament polyester yarn export price amounted to $X per ton, rising by 11% against the previous year. Overall, the export price, however, continues to indicate a noticeable decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Brazil ($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 (+4.8%), while the prices for the other major destinations experienced a decline.

Imports of High-Tenacity Filament Yarn Of Polyesters

Imports into Republic of Korea

For the third year in a row, South Korea recorded growth in purchases abroad of high-tenacity filament yarn of polyesters, which increased by 29% to X tons in 2021. Over the period under review, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 36%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, high-tenacity filament polyester yarn imports surged to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of high-tenacity filament polyester yarn to South Korea, accounting for a 84% share of total imports. Moreover, high-tenacity filament polyester yarn imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +11.4%.

In value terms, China ($X) constituted the largest supplier of high-tenacity filament yarn of polyesters to South Korea, comprising 81% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +6.9%.

Import Prices by Country

The average high-tenacity filament polyester yarn import price stood at $X per ton in 2021, surging by 18% against the previous year. In general, the import price, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2018 an increase of 21%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Vietnam ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-3.5%).

Source: IndexBox Platform

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