Republic of Korea: Market for Multiple-Walled Insulating Units Of Glass 2024

Market Size for Multiple-Walled Insulating Units Of Glass in Republic of Korea

In 2021, after five years of growth, there was decline in the South Korean multiple-walled insulating glass unit market, when its value decreased by -1.8% to $X. In general, consumption, however, recorded strong growth. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank modestly in the following year.

Production of Multiple-Walled Insulating Units Of Glass in Republic of Korea

In value terms, multiple-walled insulating glass unit production declined modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate prominent growth. The growth pace was the most rapid in 2014 when the production volume increased by 25% against the previous year. Multiple-walled insulating glass unit production peaked at $X in 2020, and then shrank modestly in the following year.

Exports of Multiple-Walled Insulating Units Of Glass

Exports from Republic of Korea

For the fourth consecutive year, South Korea recorded decline in overseas shipments of multiple-walled insulating units of glass, which decreased by -10.5% to X square meters in 2021. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 167%. The exports peaked at X square meters in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, multiple-walled insulating glass unit exports rose significantly to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 158%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X square meters) was the main destination for multiple-walled insulating glass unit exports from South Korea, accounting for a 44% share of total exports. Moreover, multiple-walled insulating glass unit exports to Vietnam exceeded the volume sent to the second major destination, the Philippines (X square meters), twofold. Singapore (X square meters) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam totaled +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+15.6% per year) and Singapore (-14.2% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for multiple-walled insulating units of glass exports from South Korea, comprising 42% of total exports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total exports. It was followed by the Philippines, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam totaled +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-11.5% per year) and the Philippines (+27.6% per year).

Export Prices by Country

In 2021, the average multiple-walled insulating glass unit export price amounted to $X per square meter, growing by 19% against the previous year. In general, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, multiple-walled insulating glass unit export price increased by +37.4% against 2019 indices. The pace of growth appeared the most rapid in 2015 an increase of 49%. As a result, the export price attained the peak level of $X per square meter. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per square meter), while the average price for exports to India ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+1,434.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Multiple-Walled Insulating Units Of Glass

Imports into Republic of Korea

In 2021, supplies from abroad of multiple-walled insulating units of glass decreased by -38.4% to X square meters, falling for the third consecutive year after two years of growth. Overall, imports, however, posted a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 223% against the previous year. Imports peaked at X square meters in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, multiple-walled insulating glass unit imports declined markedly to $X in 2021. In general, imports, however, posted strong growth. The pace of growth was the most pronounced in 2013 with an increase of 349% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X square meters) was the main supplier of multiple-walled insulating glass unit to South Korea, with a 93% share of total imports. Moreover, multiple-walled insulating glass unit imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X square meters), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +27.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+27.0% per year) and Germany (-45.5% per year).

In value terms, China ($X) constituted the largest supplier of multiple-walled insulating units of glass to South Korea, comprising 94% of total imports. The second position in the ranking was held by Malaysia ($X), with a 4.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+11.1% per year) and Germany (-34.7% per year).

Import Prices by Country

In 2021, the average multiple-walled insulating glass unit import price amounted to $X per square meter, growing by 14% against the previous year. Overall, the import price, however, showed a noticeable shrinkage. The pace of growth was the most pronounced in 2013 when the average import price increased by 39% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per square meter), while the price for Malaysia ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+20.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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