Republic of Korea: Metal Crown Cork Market 2025

Metal Crown Cork Market Size in Republic of Korea

The South Korean metal crown cork market fell to $X in 2022, which is down by -12.1% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Metal Crown Cork Production in Republic of Korea

In value terms, metal crown cork production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 31%. Metal crown cork production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Metal Crown Cork Exports

Exports from Republic of Korea

In 2022, metal crown cork exports from South Korea expanded rapidly to X units, picking up by 12% compared with 2021. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 101% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal crown cork exports rose slightly to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 81%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

New Zealand (X units), Mongolia (X units) and Hong Kong SAR (X units) were the main destinations of metal crown cork exports from South Korea.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +18.9%), while shipments for the other leaders experienced a decline.

In value terms, New Zealand ($X) remains the key foreign market for iron or steel crown corks exports from South Korea, comprising 57% of total exports. The second position in the ranking was taken by Mongolia ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual growth rate of value to New Zealand stood at +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mongolia (-4.8% per year) and Hong Kong SAR (-1.7% per year).

Export Prices by Country

In 2022, the average metal crown cork export price amounted to $X per thousand units, shrinking by -7.5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 16%. The export price peaked at $X per thousand units in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per thousand units), while the average price for exports to Mongolia ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+2.7%), while the prices for the other major destinations experienced a decline.

Metal Crown Cork Imports

Imports into Republic of Korea

Metal crown cork imports into South Korea dropped notably to X units in 2022, declining by -32.6% against 2021. Overall, imports, however, saw a measured increase. The growth pace was the most rapid in 2021 when imports increased by 187%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, metal crown cork imports shrank remarkably to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 143%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest metal crown cork supplier to South Korea, with a 87% share of total imports. Moreover, metal crown cork imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), eightfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +5.0%.

In value terms, China ($X) constituted the largest supplier of iron or steel crown corks to South Korea, comprising 70% of total imports. The second position in the ranking was held by Italy ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +12.1%.

Import Prices by Country

In 2022, the average metal crown cork import price amounted to $X per thousand units, surging by 4.8% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 76% against the previous year. As a result, import price reached the peak level of $X per thousand units. From 2015 to 2022, the average 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 Italy ($X per thousand units), while the price for China stood at $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+50.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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