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

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

The South Korean market for rigid tubes, pipes and hoses of polymers of vinyl chloride contracted to $X in 2022, which is down by -6.9% against the previous year. In general, consumption, however, continues to indicate buoyant growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

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

In value terms, vinyl chloride polymer rigid pipes production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 58% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Exports from Republic of Korea

Vinyl chloride polymer rigid pipes exports from South Korea skyrocketed to X tons in 2022, growing by 127% on the previous year's figure. Overall, exports posted a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vinyl chloride polymer rigid pipes exports skyrocketed to $X in 2022. Over the period under review, exports recorded buoyant growth. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X tons) was the main destination for vinyl chloride polymer rigid pipes exports from South Korea, with a 52% share of total exports. Moreover, vinyl chloride polymer rigid pipes exports to Myanmar exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Vietnam (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar totaled +63.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+36.8% per year) and Vietnam (+30.7% per year).

In value terms, Myanmar ($X), the United States ($X) and Vietnam ($X) constituted the largest markets for vinyl chloride polymer rigid pipes exported from South Korea worldwide, together comprising 60% of total exports.

Myanmar, with a CAGR of +52.4%, recorded 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

The average export price for rigid tubes, pipes and hoses of polymers of vinyl chloride stood at $X per ton in 2022, declining by -28% against the previous year. Over the period under review, the export price saw a slight slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 76% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, 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 ($X per ton), while the average price for exports to Myanmar ($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 China (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Imports into Republic of Korea

In 2022, approx. X tons of rigid tubes, pipes and hoses of polymers of vinyl chloride were imported into South Korea; picking up by 21% on the previous year. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +48.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 43%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, vinyl chloride polymer rigid pipes imports surged to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.3% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 32% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons), Japan (X tons) and China (X tons) were the main suppliers of vinyl chloride polymer rigid pipes imports to South Korea, with a combined 68% share of total imports. The United States, Taiwan (Chinese), Italy, Turkey and the Netherlands lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +1,441.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and Japan ($X) constituted the largest vinyl chloride polymer rigid pipes suppliers to South Korea, together accounting for 61% of total imports. The United States, Taiwan (Chinese), Italy, Turkey and the Netherlands lagged somewhat behind, together comprising a further 36%.

Turkey, with a CAGR of +1,225.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for rigid tubes, pipes and hoses of polymers of vinyl chloride stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 46% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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