Republic of Korea: Market for Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene 2024

Market Size for Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene in Republic of Korea

In 2021, the South Korean ethylene polymer rigid pipes market was finally on the rise to reach $X after two years of decline. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene in Republic of Korea

In value terms, ethylene polymer rigid pipes production amounted to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 46% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene

Exports from Republic of Korea

In 2021, exports of rigid tubes, pipes and hoses of polymers of ethylene from South Korea expanded modestly to X tons, with an increase of 3.7% against the year before. Over the period under review, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 154% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, ethylene polymer rigid pipes exports fell to $X in 2021. Overall, exports enjoyed moderate growth. The most prominent rate of growth was recorded in 2018 with an increase of 151%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Philippines (X tons) was the main destination for ethylene polymer rigid pipes exports from South Korea, accounting for a 24% share of total exports. Moreover, ethylene polymer rigid pipes exports to the Philippines exceeded the volume sent to the second major destination, Ghana (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines totaled +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+4.6% per year) and the Netherlands (+26.5% per year).

In value terms, the Philippines ($X) remains the key foreign market for rigid tubes, pipes and hoses of polymers of ethylene exports from South Korea, comprising 21% of total exports. The second position in the ranking was held by Ghana ($X), with an 8.6% share of total exports. It was followed by the Netherlands, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Philippines amounted to +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+4.2% per year) and the Netherlands (+22.1% per year).

Export Prices by Country

The average ethylene polymer rigid pipes export price stood at $X per ton in 2021, with a decrease of -12.1% against the previous year. In general, the export price recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 38%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Libya ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene

Imports into Republic of Korea

For the fourth year in a row, South Korea recorded growth in supplies from abroad of rigid tubes, pipes and hoses of polymers of ethylene, which increased by 34% to X tons in 2021. In general, imports posted resilient growth. The growth pace was the most rapid in 2016 with an increase of 36%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, ethylene polymer rigid pipes imports reached $X in 2021. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 30% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

China (X tons), Italy (X tons) and the United States (X tons) were the main suppliers of ethylene polymer rigid pipes imports to South Korea, with a combined 57% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +76.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Italy ($X) constituted the largest ethylene polymer rigid pipes suppliers to South Korea, together accounting for 66% of total imports.

China, with a CAGR of +55.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average ethylene polymer rigid pipes import price amounted to $X per ton, which is down by -19.5% against the previous year. In general, the import price recorded a perceptible slump. The growth pace was the most rapid in 2017 an increase of 36% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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