Republic of Korea: Plastic Box Market 2025

Plastic Box Market Size in Republic of Korea

The South Korean plastic box market fell to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Plastic Box Production in Republic of Korea

In value terms, plastic box production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 63% against the previous year. Plastic box production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Plastic Box Exports

Exports from Republic of Korea

Plastic box exports from South Korea dropped slightly to X tons in 2022, approximately reflecting 2021 figures. Over the period under review, total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +10.1% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 15%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, plastic box exports totaled $X in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 18% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons) was the main destination for plastic box exports from South Korea, with a 51% share of total exports. Moreover, plastic box exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The United States (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+28.0% per year) and the United States (+3.8% per year).

In value terms, China ($X) remains the key foreign market for plastic boxes, cases, crates and similar packing articles exports from South Korea, comprising 37% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 16% share of total exports. It was followed by Japan, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to China totaled -2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+15.6% per year) and Japan (+2.1% per year).

Export Prices by Country

The average plastic box export price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the export price, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 7%. The export price peaked at $X per ton in 2012; however, from 2013 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 Japan ($X per ton), while the average price for exports to China ($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 the United States (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Box Imports

Imports into Republic of Korea

In 2022, approx. X tons of plastic boxes, cases, crates and similar packing articles were imported into South Korea; remaining stable against 2021. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% 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 +12.7% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 17% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined slightly in the following year.

In value terms, plastic box imports contracted slightly to $X in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 20% against the previous year. As a result, imports reached the peak of $X, and then fell modestly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic box to South Korea, accounting for a 53% share of total imports. Moreover, plastic box imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by Vietnam (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.2% per year) and Vietnam (+36.1% per year).

In value terms, China ($X) constituted the largest supplier of plastic boxes, cases, crates and similar packing articles to South Korea, comprising 52% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 18% share of total imports. It was followed by the United States, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+42.1% per year) and the United States (+11.1% per year).

Import Prices by Country

In 2022, the average plastic box import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of 5.8%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Mexico ($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 (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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