Republic of Korea: Synthetic Yarn Market 2025

Synthetic Yarn Market Size in Republic of Korea

The South Korean synthetic yarn market reduced slightly to $X in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a perceptible contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Synthetic Yarn Exports

Exports from Republic of Korea

Synthetic yarn exports from South Korea fell markedly to X tons in 2022, shrinking by X% compared with the previous year's figure. Overall, exports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, synthetic yarn exports fell sharply to $X in 2022. In general, exports saw a deep downturn. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons), the United States (X tons) and China (X tons) were the main destinations of synthetic yarn exports from South Korea, together comprising X% of total exports. Japan, Indonesia, Honduras, India, Sri Lanka, the UK, Bangladesh, Mexico, Hong Kong SAR and Brazil lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for synthetic yarn exported from South Korea were the United States ($X), Vietnam ($X) and China ($X), together accounting for X% of total exports. The UK, India, Indonesia, Japan, Sri Lanka, Bangladesh, Mexico, Honduras, Hong Kong SAR and Brazil lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, the UK, with a CAGR of X%, 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 mixed trend patterns.

Export Prices by Country

The average synthetic yarn export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, synthetic yarn export price increased by X% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

Synthetic Yarn Imports

Imports into Republic of Korea

In 2022, synthetic yarn imports into South Korea declined to X tons, waning by X% against the previous year. Overall, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, synthetic yarn imports dropped to $X in 2022. In general, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Vietnam (X tons) and China (X tons) were the main suppliers of synthetic yarn imports to South Korea, with a combined X% share of total imports. These countries were followed by Thailand, which accounted for a further X%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, Indonesia ($X), China ($X) and Vietnam ($X) constituted the largest synthetic yarn suppliers to South Korea, together accounting for X% of total imports.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average synthetic yarn import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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