Republic of Korea: Wallpaper Market 2024

Wallpaper Market Size in Republic of Korea

In 2021, after two years of decline, there was significant growth in the South Korean wallpaper market, when its value increased by 12% to $X. Overall, consumption, however, continues to indicate a pronounced shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Wallpaper Production in Republic of Korea

In value terms, wallpaper production expanded sharply to $X in 2021 estimated in export price. In general, production, however, saw a pronounced slump. Wallpaper production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Wallpaper Exports

Exports from Republic of Korea

After six years of decline, overseas shipments of wallpaper and wall coverings increased by 4.4% to X tons in 2021. In general, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 13% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, wallpaper exports expanded notably to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2013 when exports increased by 14%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Russia (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) were the main destinations of wallpaper exports from South Korea, with a combined 32% share of total exports. These countries were followed by China, Thailand, India, Indonesia, the United States, Vietnam, Malaysia, Mongolia, Kuwait and Turkey, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kuwait (with a CAGR of +40.5%), while the other leaders experienced a decline.

In value terms, the largest markets for wallpaper exported from South Korea were the United States ($X), Russia ($X) and Saudi Arabia ($X), with a combined 35% share of total exports. These countries were followed by the United Arab Emirates, Thailand, China, India, Indonesia, Malaysia, Vietnam, Kuwait, Mongolia and Turkey, which together accounted for a further 32%.

In terms of the main countries of destination, Kuwait, with a CAGR of +32.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average wallpaper export price stood at $X per ton in 2021, growing by 5.9% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2015; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mongolia ($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 the United States (+12.1%), while the prices for the other major destinations experienced a decline.

Wallpaper Imports

Imports into Republic of Korea

In 2021, overseas purchases of wallpaper and wall coverings were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 102% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, wallpaper imports soared to $X in 2021. Over the period under review, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 100%. As a result, imports reached the peak of $X; afterwards, it flattened through to 2021.

Imports by Country

In 2021, China (X tons) constituted the largest wallpaper supplier to South Korea, accounting for a 49% share of total imports. Moreover, wallpaper imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by the United Arab Emirates (X tons), with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.7% per year) and the United Arab Emirates (+15.8% per year).

In value terms, the largest wallpaper suppliers to South Korea were China ($X), the United States ($X) and France ($X), with a combined 40% share of total imports. Japan, the UK, Italy, Belgium, Sweden, Germany and the United Arab Emirates lagged somewhat behind, together accounting for a further 40%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +16.3%, saw the highest growth rate of the value of imports, 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 wallpaper import price amounted to $X per ton, almost unchanged from the previous year. Overall, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wallpaper import price increased by +70.7% against 2014 indices. The most prominent rate of growth was recorded in 2016 an increase of 16% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

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 France ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :