Republic of Korea: Market for Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning 2024

Market Size for Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning in Republic of Korea

After two years of decline, the South Korean market for polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning increased by 22% to $X in 2021. Over the period under review, consumption, however, showed a slight reduction. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning in Republic of Korea

In value terms, production of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning expanded significantly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15%. Production of peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning

Exports from Republic of Korea

In 2021, the amount of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning exported from South Korea dropped to X tons, which is down by -13.4% on the previous year's figure. Over the period under review, exports recorded a noticeable slump. The pace of growth appeared the most rapid in 2013 when exports increased by 14%. Over the period under review, the exports of attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning fell slightly to $X in 2021. Overall, exports showed a perceptible setback. The most prominent rate of growth was recorded in 2013 when exports increased by 13%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), Japan (X tons) and Tanzania (X tons) were the main destinations of exports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning from South Korea, together comprising 31% of total exports.

From 2012 to 2021, the biggest increases were recorded for Tanzania (with a CAGR of +140.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning exported from South Korea were Turkey ($X), Tanzania ($X) and Japan ($X), with a combined 32% share of total exports.

Tanzania, with a CAGR of +141.3%, 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 2021, the average export price for polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, growing by 10% against the previous year. Overall, the export price, however, showed a slight decrease. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Haiti ($X per ton) and China ($X per ton), while the average price for exports to Israel ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+0.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning

Imports into Republic of Korea

In 2021, purchases abroad of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning increased by 8.3% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2020 with an increase of 178%. Over the period under review, imports of reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning surged to $X in 2021. In general, imports, however, showed a abrupt contraction. The growth pace was the most rapid in 2020 when imports increased by 195% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of imports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning to South Korea, together accounting for 97% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +96.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning suppliers to South Korea were the United States ($X), China ($X) and Japan ($X), with a combined 94% share of total imports.

China, with a CAGR of +91.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, increasing by 23% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2018 an increase of 40%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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