Republic of Korea: Metallised Yarn Market 2024

Metallised Yarn Market Size in Republic of Korea

The South Korean metallised yarn market surged to $X in 2021, rising by 21% against the previous year. In general, consumption continues to indicate a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Metallised Yarn Production in Republic of Korea

In value terms, metallised yarn production surged to $X in 2021 estimated in export price. Overall, production enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 166% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Metallised Yarn Exports

Exports from Republic of Korea

Metallised yarn exports from South Korea declined to X tons in 2021, shrinking by -6% compared with 2020. Over the period under review, exports continue to indicate a dramatic descent. The growth pace was the most rapid in 2018 with an increase of 1.6%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, metallised yarn exports shrank to $X in 2021. Overall, exports recorded a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 5.5% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons), China (X tons) and Vietnam (X tons) were the main destinations of metallised yarn exports from South Korea, together accounting for 55% of total exports. Russia, Indonesia, Nigeria, Guatemala, Italy, Sri Lanka, Morocco, Mexico and the United States lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the biggest increases were in Italy (with a CAGR of +18.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for metallised yarn exports from South Korea, comprising 29% of total exports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total exports. It was followed by Indonesia, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-16.1% per year) and Indonesia (+2.3% per year).

Export Prices by Country

The average metallised yarn export price stood at $X per ton in 2021, which is down by -4.5% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metallised yarn export price decreased by -16.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while the average price for exports to Nigeria ($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 the United States (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metallised Yarn Imports

Imports into Republic of Korea

In 2021, approx. X tons of metallised yarn and strip were imported into South Korea; reducing by -49.5% on 2020 figures. Overall, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 when imports increased by 80%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, metallised yarn imports shrank significantly to $X in 2021. Over the period under review, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of 97% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Belgium (X tons) were the main suppliers of metallised yarn imports to South Korea, together accounting for 90% of total imports.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +18.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of metallised yarn to South Korea, comprising 50% of total imports. The second position in the ranking was taken by China ($X), with a 22% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.7% per year) and Belgium (-4.7% per year).

Import Prices by Country

In 2021, the average metallised yarn import price amounted to $X per ton, increasing by 31% against the previous year. Over the period under review, the import price saw a slight increase. The most prominent rate of growth was recorded in 2017 an increase of 85% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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