Republic of Korea: Other Papers Packaging Market 2024

Other Papers Packaging Market Size in Republic of Korea

The South Korean other papers packaging market declined modestly to $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption, however, continues to indicate a perceptible curtailment. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Other Papers Packaging Production in Republic of Korea

In value terms, other papers packaging production shrank to $X in 2022 estimated in export price. Overall, production showed a deep reduction. The pace of growth was the most pronounced in 2015 with an increase of 129%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Other Papers Packaging Exports

Exports from Republic of Korea

In 2022, approx. X tons of other papers packaging were exported from South Korea; with a decrease of -25.1% against 2021 figures. In general, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2014 with an increase of 429%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, other papers packaging exports shrank significantly to $X in 2022. Overall, exports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 283%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons), Malaysia (X tons) and China (X tons) were the main destinations of other papers packaging exports from South Korea, with a combined 86% share of total exports. Sri Lanka, the Philippines and Thailand lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +247.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for other papers packaging exported from South Korea were Malaysia ($X), Vietnam ($X) and Sri Lanka ($X), with a combined 85% share of total exports.

Among the main countries of destination, Sri Lanka, with a CAGR of +179.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average other papers packaging export price amounted to $X per ton, growing by 5.1% against the previous year. Over the period under review, the export price, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 when the average export price increased by 137%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to China ($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 Malaysia (+3.4%), while the prices for the other major destinations experienced a decline.

Other Papers Packaging Imports

Imports into Republic of Korea

In 2022, imports of other papers packaging into South Korea amounted to X tons, growing by 9% against the year before. Overall, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 143% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, other papers packaging imports skyrocketed to $X in 2022. Over the period under review, imports posted a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 126%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of other papers packaging imports to South Korea, with a combined 95% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +34.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Indonesia ($X) constituted the largest other papers packaging suppliers to South Korea, together accounting for 93% of total imports.

Indonesia, with a CAGR of +31.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average other papers packaging import price stood at $X per ton in 2022, rising by 10% against the previous year. In general, the import price, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by 17% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($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 United States (-2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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