Republic of Korea: Drawing Board Market 2024

Drawing Board Market Size in Republic of Korea

The South Korean drawing board market totaled $X in 2022, increasing by 3.8% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Drawing Board Production in Republic of Korea

In value terms, drawing board production totaled $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 20% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Drawing Board Exports

Exports from Republic of Korea

In 2022, drawing board exports from South Korea contracted sharply to X units, dropping by -39.5% compared with the previous year. Over the period under review, exports recorded a slight curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 94% against the previous year. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, drawing board exports fell to $X in 2022. Overall, exports showed a pronounced decline. The pace of growth appeared the most rapid in 2021 when exports increased by 32% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Singapore (X units) and Greece (X units) were the main destinations of drawing board exports from South Korea, together accounting for 40% of total exports. Thailand, Kuwait, Mongolia, Kenya, Japan, the Dominican Republic, France, Solomon Islands, the United Arab Emirates and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Solomon Islands (with a CAGR of +105.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for slates and boards with writing or drawing surfaces exports from South Korea, comprising 31% of total exports. The second position in the ranking was held by Kuwait ($X), with a 10% share of total exports. It was followed by Singapore, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +56.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+42.1% per year) and Singapore (+55.3% per year).

Export Prices by Country

In 2022, the average drawing board export price amounted to $X per unit, surging by 45% against the previous year. In general, the export price, however, continues to indicate a mild descent. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Drawing Board Imports

Imports into Republic of Korea

In 2022, after two years of growth, there was significant decline in supplies from abroad of slates and boards with writing or drawing surfaces, when their volume decreased by -14.9% to X units. In general, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.6% 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 -0.9% against 2018 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 40% against the previous year. Over the period under review, imports reached the maximum at X units in 2021, and then declined in the following year.

In value terms, drawing board imports contracted to $X in 2022. Over the period under review, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 48%. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X units) constituted the largest drawing board supplier to South Korea, accounting for a 89% share of total imports. Moreover, drawing board imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+6.7% per year) and Taiwan (Chinese) (+17.7% per year).

In value terms, China ($X) constituted the largest supplier of slates and boards with writing or drawing surfaces to South Korea, comprising 91% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 1.9% share of total imports. It was followed by Vietnam, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+6.8% per year) and Vietnam (+4.2% per year).

Import Prices by Country

The average drawing board import price stood at $X per unit in 2022, increasing by 5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 23% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :