Republic of Korea: Non-Cellular Polystyrene Film Market 2025

Non-Cellular Polystyrene Film Market Size in Republic of Korea

In 2022, the South Korean non-cellular polystyrene film market decreased by -0.1% to $X, falling for the third consecutive year after two years of growth. In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.1% against 2019 indices. Non-cellular polystyrene film consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Non-Cellular Polystyrene Film Production in Republic of Korea

In value terms, non-cellular polystyrene film production reduced modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2019 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 24%. Non-cellular polystyrene film production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Non-Cellular Polystyrene Film Exports

Exports from Republic of Korea

In 2022, overseas shipments of non-cellular polystyrene films, sheets, foil and strip decreased by -13.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 48% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, non-cellular polystyrene film exports shrank rapidly to $X in 2022. In general, exports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2021 when exports increased by 57% against the previous year. As a result, the exports reached the peak of $X, and then dropped rapidly in the following year.

Exports by Country

China (X tons) was the main destination for non-cellular polystyrene film exports from South Korea, accounting for a 33% share of total exports. Moreover, non-cellular polystyrene film exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was taken by Belgium (X tons), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+18.6% per year) and Belgium (+37.6% per year).

In value terms, China ($X) remains the key foreign market for non-cellular polystyrene films, sheets, foil and strip exports from South Korea, comprising 34% of total exports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total exports. It was followed by Belgium, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+25.2% per year) and Belgium (+36.3% per year).

Export Prices by Country

The average non-cellular polystyrene film export price stood at $X per ton in 2022, declining by -5.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 15% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Hungary ($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 Germany (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Cellular Polystyrene Film Imports

Imports into Republic of Korea

In 2022, non-cellular polystyrene film imports into South Korea reduced notably to X tons, waning by -23.8% compared with the previous year. Over the period under review, imports saw a deep slump. The pace of growth was the most pronounced in 2013 when imports increased by 125%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, non-cellular polystyrene film imports declined dramatically to $X in 2022. Overall, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 126% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of non-cellular polystyrene film imports to South Korea, together comprising 86% of total imports. Taiwan (Chinese), Germany, Italy, Sweden and the UK lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +19.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of non-cellular polystyrene films, sheets, foil and strip to South Korea, comprising 66% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Germany, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.7% per year) and Germany (+13.9% per year).

Import Prices by Country

The average non-cellular polystyrene film import price stood at $X per ton in 2022, shrinking by -5.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 84% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+35.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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