Republic of Korea: Market for Tubes, Pipes And Hoses Of Vulcanized Rubber 2025

Market Size for Tubes, Pipes And Hoses Of Vulcanized Rubber in Republic of Korea

The South Korean rubber tube and pipe market shrank to $X in 2021, waning by -12.2% against the previous year. In general, consumption continues to indicate a pronounced contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Tubes, Pipes And Hoses Of Vulcanized Rubber in Republic of Korea

In value terms, rubber tube and pipe production reduced to $X in 2021 estimated in export price. Overall, production saw a pronounced decrease. The pace of growth was the most pronounced in 2020 with an increase of 32%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Exports from Republic of Korea

In 2021, shipments abroad of tubes, pipes and hoses of vulcanized rubber increased by 8.1% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 13%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, rubber tube and pipe exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 22%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main destinations of rubber tube and pipe exports from South Korea, together comprising 46% of total exports. Mexico, the Czech Republic, Brazil, Slovakia, the United Arab Emirates, India, Vietnam, Australia, the Netherlands and Canada lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +50.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rubber tube and pipe exported from South Korea were the United States ($X), China ($X) and Brazil ($X), together comprising 44% of total exports. These countries were followed by Mexico, the Czech Republic, Slovakia, Japan, India, the United Arab Emirates, Vietnam, the Netherlands, Australia and Canada, which together accounted for a further 42%.

Among the main countries of destination, the Netherlands, with a CAGR of +43.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average rubber tube and pipe export price stood at $X per ton in 2021, surging by 4.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 7.4% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Canada ($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 (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Imports into Republic of Korea

In 2021, supplies from abroad of tubes, pipes and hoses of vulcanized rubber increased by 20% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, rubber tube and pipe imports surged to $X in 2021. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 18%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of rubber tube and pipe to South Korea, accounting for a 50% share of total imports. Moreover, rubber tube and pipe imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The third position in this ranking was held by Vietnam (X tons), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+1.4% per year) and Vietnam (+48.3% per year).

In value terms, China ($X) constituted the largest supplier of tubes, pipes and hoses of vulcanized rubber to South Korea, comprising 31% of total imports. The second position in the ranking was held by the United States ($X), with a 10% share of total imports. It was followed by Malaysia, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.4% per year) and Malaysia (+4.8% per year).

Import Prices by Country

The average rubber tube and pipe import price stood at $X per ton in 2021, reducing by -1.9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 13% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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