Republic of Korea: Particle Board Market 2024

Particle Board Market Size in Republic of Korea

The South Korean particle board market reduced to $X in 2022, declining by -8.7% against the previous year. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +29.9% against 2020 indices. Particle board consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Particle Board Production in Republic of Korea

In value terms, particle board production expanded slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 24%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Particle Board Exports

Exports from Republic of Korea

In 2022, particle board exports from South Korea reduced markedly to X cubic meters, waning by -79.5% against 2021 figures. Overall, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 91%. Over the period under review, the exports reached the maximum at X cubic meters in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, particle board exports shrank markedly to $X in 2022. In general, exports showed a abrupt decline. The growth pace was the most rapid in 2013 with an increase of 135% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X cubic meters), China (X cubic meters) and Poland (X cubic meters) were the main destinations of particle board exports from South Korea, together accounting for 85% of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +49.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for particle board exports from South Korea, comprising 47% of total exports. The second position in the ranking was held by the Philippines ($X), with a 19% share of total exports. It was followed by Poland, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at -14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+3.4% per year) and Poland (+27.0% per year).

Export Prices by Country

The average particle board export price stood at $X per cubic meter in 2022, with an increase of 30% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The export price peaked at $X per cubic meter in 2013; however, from 2014 to 2022, the 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 ($X per cubic meter), while the average price for exports to China ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Particle Board Imports

Imports into Republic of Korea

Particle board imports into South Korea reduced to X cubic meters in 2022, falling by -11.2% compared with 2021. In general, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +3.2% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 32%. Over the period under review, imports attained the maximum at X cubic meters in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, particle board imports fell to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 63%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X cubic meters) constituted the largest supplier of particle board to South Korea, with a 87% share of total imports. Moreover, particle board imports from Thailand exceeded the figures recorded by the second-largest supplier, Indonesia (X cubic meters), more than tenfold. Malaysia (X cubic meters) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+55.2% per year) and Malaysia (-2.1% per year).

In value terms, Thailand ($X) constituted the largest supplier of particle board to South Korea, comprising 83% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 4.8% share of total imports. It was followed by Indonesia, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value from Thailand totaled +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+2.2% per year) and Indonesia (+54.9% per year).

Import Prices by Country

In 2022, the average particle board import price amounted to $X per cubic meter, waning by -2% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 41%. As a result, import price reached the peak level of $X per cubic meter, and then fell modestly in the following year.

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 Romania ($X per cubic meter), while the price for Indonesia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :