Republic of Korea: Surgical Glove Market 2024

Surgical Glove Exports

Exports from Republic of Korea

In 2022, overseas shipments of surgical gloves increased by 2.5% to X tons, rising for the fourth consecutive year after three years of decline. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 379% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, surgical glove exports shrank to $X in 2022. In general, exports showed a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 544% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X tons) was the main destination for surgical glove exports from South Korea, with a 43% share of total exports. Moreover, surgical glove exports to the United States exceeded the volume sent to the second major destination, Libya (X tons), threefold. Kuwait (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 the United States stood at +47.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (+48.1% per year) and Kuwait (+15.0% per year).

In value terms, the United States ($X) remains the key foreign market for surgical gloves exports from South Korea, comprising 61% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 8.8% share of total exports. It was followed by China, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +81.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-2.0% per year) and China (+63.9% per year).

Export Prices by Country

The average surgical glove export price stood at $X per ton in 2022, waning by -13.9% against the previous year. In general, the export price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 34%. The export price peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Libya ($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 Macao SAR (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Surgical Glove Imports

Imports into Republic of Korea

Surgical glove imports into South Korea expanded to X tons in 2022, surging by 2% compared with the year before. The total import volume increased at an average annual rate of +2.4% 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 2017 with an increase of 18%. Imports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, surgical glove imports fell to $X in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +69.8% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 28% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then shrank slightly in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of surgical glove to South Korea, accounting for a 50% share of total imports. Moreover, surgical glove imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.9% per year) and Thailand (+3.5% per year).

In value terms, Malaysia ($X) constituted the largest supplier of surgical gloves to South Korea, comprising 48% of total imports. The second position in the ranking was taken by China ($X), with a 23% share of total imports. It was followed by Thailand, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.7% per year) and Thailand (+7.9% per year).

Import Prices by Country

In 2022, the average surgical glove import price amounted to $X per ton, shrinking by -5.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 12%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and Austria ($X per ton), while the price for Malaysia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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