Republic of Korea: Market for Rigid Tubes, Pipes and Hoses, of Other Polymers 2024

Market Size for Rigid Tubes, Pipes and Hoses, of Other Polymers in Republic of Korea

The South Korean market for rigid tubes, pipes and hoses, of other polymers rose markedly to $X in 2022, increasing by 8.8% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Rigid Tubes, Pipes and Hoses, of Other Polymers in Republic of Korea

In value terms, production of rigid tubes, pipes and hoses, of other polymers amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 60%. Over the period under review, production of attained the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Exports from Republic of Korea

After two years of decline, overseas shipments of rigid tubes, pipes and hoses, of other polymers increased by 38% to X tons in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 48%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of rigid tubes, pipes and hoses, of other polymers skyrocketed to $X in 2022. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 82%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for exports of rigid tubes, pipes and hoses, of other polymers from South Korea, with a 23% share of total exports. Moreover, exports of rigid tubes, pipes and hoses, of other polymers to China exceeded the volume sent to the second major destination, India (X tons), twofold. Vietnam (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+11.1% per year) and Vietnam (+21.2% per year).

In value terms, China ($X) remains the key foreign market for rigid tubes, pipes and hoses, of other polymers exports from South Korea, comprising 23% of total exports. The second position in the ranking was taken by Slovakia ($X), with a 10% share of total exports. It was followed by the Czech Republic, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+25.2% per year) and the Czech Republic (+41.8% per year).

Export Prices by Country

The average export price for rigid tubes, pipes and hoses, of other polymers stood at $X per ton in 2022, reducing by -7.7% against the previous year. Overall, the export price, however, saw resilient growth. The growth pace was the most rapid in 2017 an increase of 57% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Brunei Darussalam ($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 China (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Imports into Republic of Korea

In 2022, imports of rigid tubes, pipes and hoses, of other polymers into South Korea expanded significantly to X tons, picking up by 8.6% against 2021 figures. In general, imports recorded strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 31%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of rigid tubes, pipes and hoses, of other polymers dropped to $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value 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 +45.7% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 38%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

China (X tons), Austria (X tons) and the United States (X tons) were the main suppliers of imports of rigid tubes, pipes and hoses, of other polymers to South Korea, together comprising 61% of total imports. Malaysia, Vietnam, New Zealand, Germany, the UK and Japan lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (with a CAGR of +47.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rigid tubes, pipes and hoses, of other polymers suppliers to South Korea were Austria ($X), the United States ($X) and China ($X), together accounting for 65% of total imports. Vietnam, Germany, Malaysia, the UK, Japan and New Zealand lagged somewhat behind, together comprising a further 23%.

Among the main suppliers, New Zealand, with a CAGR of +37.2%, saw 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 import price for rigid tubes, pipes and hoses, of other polymers amounted to $X per ton, which is down by -16.9% against the previous year. In general, the import price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2020 an increase of 33%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 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 Japan ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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