Republic of Korea - Glass Fibre Chopped Strands - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Glass Fibre Chopped Strand in South Korea - 2022
Contents:
- Price for Glass Fibre Chopped Strand in South Korea (CIF) - 2022
- Price for Glass Fibre Chopped Strand in South Korea (FOB) - 2022
- Imports of Glass Fibre Chopped Strand in South Korea
- Exports of Glass Fibre Chopped Strand in South Korea
Price for Glass Fibre Chopped Strand in South Korea (CIF) - 2022
The average glass fibre chopped strand import price stood at $1,230 per ton in 2022, rising by 8.6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 15%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($2,168 per ton), while the price for China ($1,124 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Glass Fibre Chopped Strand in South Korea (FOB) - 2022
The average glass fibre chopped strand export price stood at $1,316 per ton in December 2022, reducing by -2.8% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in January 2022 when the average export price increased by 8.8% month-to-month. Over the period under review, the average export prices hit record highs at $1,428 per ton in February 2022; however, from March 2022 to December 2022, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major external markets. In December 2022, the countries with the highest prices were Malaysia ($1,577 per ton) and China ($1,453 per ton), while the average price for exports to the United Arab Emirates ($1,176 per ton) and India ($1,190 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Glass Fibre Chopped Strand in South Korea
In 2022, imports of glass fibre chopped strands into South Korea contracted to 81K tons, which is down by -7.1% on the previous year's figure. The total import volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 24%. As a result, imports attained the peak of 88K tons, and then contracted in the following year.
In value terms, glass fibre chopped strand imports reached $100M in 2022. The total import value increased at an average annual rate of +7.5% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 43% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.
Import of Glass Fibre Chopped Strand in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 25.4 | 26.7 | 46.5 | 52.4 | 27.3% |
Malaysia | 39.0 | 29.2 | 37.4 | 34.9 | -3.6% |
Japan | 13.4 | 12.5 | 14.4 | 12.4 | -2.6% |
Others | 2.8 | 1.3 | 1.1 | 0.4 | -47.7% |
Total | 80.6 | 69.7 | 99.3 | 100 | 7.5% |
Top Suppliers of Glass Fibre Chopped Strand to South Korea in 2022:
- China (46.7K tons)
- Malaysia (28.8K tons)
- Japan (5.7K tons)
Exports of Glass Fibre Chopped Strand in South Korea
In 2022, after three years of growth, there was decline in shipments abroad of glass fibre chopped strands, when their volume decreased by -4% to 39K tons. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +16.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. As a result, the exports reached the peak of 41K tons, and then contracted slightly in the following year.
In value terms, glass fibre chopped strand exports rose significantly to $54M in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.1% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 51%. The exports peaked in 2022 and are likely to see steady growth in years to come.
Export of Glass Fibre Chopped Strand in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 11.4 | 10.2 | 13.4 | 10.9 | -1.5% |
Germany | 0.1 | 1.8 | 5.3 | 6.6 | 304.1% |
Italy | N/A | 0.5 | 0.8 | 4.7 | 206.6% |
United States | 0.4 | 0.9 | 1.5 | 4.4 | 122.4% |
China | 3.1 | 2.9 | 4.5 | 4.0 | 8.9% |
Slovenia | 0.3 | 1.1 | 5.9 | 3.4 | 124.6% |
Malaysia | 2.8 | 2.9 | 3.4 | 2.7 | -1.2% |
Vietnam | 1.5 | 2.0 | 1.6 | 2.2 | 13.6% |
Czech Republic | N/A | N/A | 0.7 | 2.1 | 200.0% |
India | 1.2 | 1.3 | 2.1 | 1.7 | 12.3% |
United Arab Emirates | N/A | N/A | 0.1 | 1.6 | 1500.0% |
Hungary | 2.7 | 1.9 | 2.9 | 1.6 | -16.0% |
Poland | 0.9 | 1.3 | 0.9 | 1.3 | 13.0% |
Others | 6.7 | 6.2 | 6.8 | 6.9 | 1.0% |
Total | 31.0 | 33.0 | 49.9 | 54.0 | 20.3% |
Top Export Markets for Glass Fibre Chopped Strand from South Korea in 2022:
- Japan (7.6K tons)
- Germany (4.7K tons)
- Italy (4.0K tons)
- United States (3.1K tons)
- China (2.8K tons)
- Slovenia (2.5K tons)
- Malaysia (1.8K tons)
- Czech Republic (1.5K tons)
- Vietnam (1.5K tons)
- United Arab Emirates (1.2K tons)
- India (1.2K tons)
- Poland (1.1K tons)
- Hungary (1.1K tons)
This report provides an in-depth analysis of the market for glass fibre chopped strand in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 23141110 - Glass fibre threads cut into lengths of at least 3 mm but . .50 mm (chopped strands)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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