Republic of Korea: Man-Made Filament Fabric Market 2025

Man-Made Filament Fabric Market Size in Republic of Korea

The South Korean man-made filament fabric market declined modestly to $X in 2021, shrinking by -1.7% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the market value increased by 7.9%. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Man-Made Filament Fabric Production in Republic of Korea

In value terms, man-made filament fabric production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 7.2%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Man-Made Filament Fabric Exports

Exports from Republic of Korea

After six years of decline, overseas shipments of woven fabrics of man-made filaments and staple fibers increased by 24% to X tons in 2021. Over the period under review, exports, however, saw a pronounced slump. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, man-made filament fabric exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a mild decline. The pace of growth was the most pronounced in 2014 with an increase of 28%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Myanmar (X tons) was the main destination for man-made filament fabric exports from South Korea, accounting for a 93% share of total exports. It was followed by Oman (X tons), with a 1.8% share of total exports. Vietnam (X tons) ranked third in terms of total exports with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Myanmar stood at +65.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+50.4% per year) and Vietnam (-29.4% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for woven fabrics of man-made filaments and staple fibers exports from South Korea, comprising 87% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 1.3% share of total exports. It was followed by China, with a 1.2% share.

From 2012 to 2021, the average annual growth rate of value to Myanmar totaled +65.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-25.3% per year) and China (-29.7% per year).

Export Prices by Country

The average man-made filament fabric export price stood at $X per ton in 2021, surging by 2.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Oman ($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 Arab Emirates (+25.1%), while the prices for the other major destinations experienced more modest paces of growth.

Man-Made Filament Fabric Imports

Imports into Republic of Korea

In 2021, the amount of woven fabrics of man-made filaments and staple fibers imported into South Korea rose rapidly to X tons, increasing by 6.3% on the year before. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 33% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, man-made filament fabric imports skyrocketed to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Myanmar (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of man-made filament fabric imports to South Korea, together accounting for 71% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Myanmar (with a CAGR of +95.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X) constituted the largest supplier of woven fabrics of man-made filaments and staple fibers to South Korea, comprising 58% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by India, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Myanmar totaled +91.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-15.0% per year) and India (+47.9% per year).

Import Prices by Country

The average man-made filament fabric import price stood at $X per ton in 2021, rising by 14% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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