Republic of Korea: Market for Plastics Tubes, Pipes And Hoses, And Fitting 2024

Market Size for Plastics Tubes, Pipes And Hoses, And Fitting in Republic of Korea

The South Korean plastic pipe and hose market dropped modestly to $X in 2022, flattening at the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Plastics Tubes, Pipes And Hoses, And Fitting in Republic of Korea

In value terms, plastic pipe and hose production amounted to $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Plastic pipe and hose production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Plastics Tubes, Pipes And Hoses, And Fitting

Exports from Republic of Korea

For the seventh year in a row, South Korea recorded growth in shipments abroad of plastics tubes, pipes and hoses, and fitting, which increased by X% to X tons in 2022. Over the period under review, total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic pipe and hose exports surged to $X in 2022. In general, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2014 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons), the United States (X tons) and Vietnam (X tons) were the main destinations of plastic pipe and hose exports from South Korea, together comprising X% of total exports. Myanmar, Japan, Germany, the Philippines, Canada, the Netherlands, Mexico and Australia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic pipe and hose exported from South Korea were China ($X), the United States ($X) and Japan ($X), together accounting for X% of total exports. Vietnam, Myanmar, Germany, Canada, Mexico, the Philippines, the Netherlands and Australia lagged somewhat behind, together accounting for a further X%.

The Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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 plastic pipe and hose export price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Japan ($X per ton), while the average price for exports to Myanmar ($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 Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastics Tubes, Pipes And Hoses, And Fitting

Imports into Republic of Korea

For the fourth year in a row, South Korea recorded growth in overseas purchases of plastics tubes, pipes and hoses, and fitting, which increased by X% to X tons in 2022. Overall, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2013 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, plastic pipe and hose imports reached $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest plastic pipe and hose supplier to South Korea, with a X% share of total imports. Moreover, plastic pipe and hose imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Indonesia (X% per year).

In value terms, the United States ($X), China ($X) and Japan ($X) appeared to be the largest plastic pipe and hose suppliers to South Korea, together comprising X% of total imports. Austria, Germany, Vietnam, Malaysia, Indonesia, Taiwan (Chinese), Italy, Switzerland and Singapore lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the average plastic pipe and hose import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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