Price for Buttons; of Plastics, Not Covered with Textile Material in South Korea - 2022

Contents:

1. Price for Buttons; of Plastics, Not Covered with Textile Material in South Korea (FOB) - 2022
2. Price for Buttons; of Plastics, Not Covered with Textile Material in South Korea (CIF) - 2022
3. Exports of Buttons; of Plastics, Not Covered with Textile Material in South Korea
4. Imports of Buttons; of Plastics, Not Covered with Textile Material in South Korea

Price for Buttons; of Plastics, Not Covered with Textile Material in South Korea (FOB) - 2022

The average export price for buttons; of plastics, not covered with textile materials stood at $22,706 per ton in December 2022, surging by 34% against the previous month. Over the period under review, the export price posted a slight expansion. The pace of growth appeared the most rapid in February 2022 an increase of 90% against the previous month. As a result, the export price attained the peak level of $39,704 per ton. From March 2022 to December 2022, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was Indonesia ($24,936 per ton), while the average price for exports to China ($12,409 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Buttons; of Plastics, Not Covered with Textile Material in South Korea (CIF) - 2022

The average import price for buttons; of plastics, not covered with textile materials stood at $25,045 per ton in December 2022, remaining relatively unchanged against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in February 2022 an increase of 53% month-to-month. As a result, import price reached the peak level of $32,078 per ton. From March 2022 to December 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Vietnam ($28,842 per ton), while the price for Indonesia ($18,455 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Buttons; of Plastics, Not Covered with Textile Material in South Korea

In 2022, overseas shipments of buttons; of plastics, not covered with textile materials were finally on the rise to reach 494 tons after two years of decline. In general, exports, however, showed a abrupt shrinkage.

In value terms, exports of buttons; of plastics, not covered with textile materials fell to $11M in 2022. Over the period under review, exports, however, showed a deep setback. The pace of growth was the most pronounced in 2020 when exports increased by 3.6%. As a result, the exports reached the peak of $15M. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Buttons; of Plastics, Not Covered with Textile Material from South Korea in 2022:

1. Vietnam (204.6 tons)
2. Philippines (111.1 tons)
3. Indonesia (63.5 tons)
4. Bangladesh (63.1 tons)
5. China (26.5 tons)
6. Myanmar (12.5 tons)

Imports of Buttons; of Plastics, Not Covered with Textile Material in South Korea

In 2022, imports of buttons; of plastics, not covered with textile materials into South Korea expanded remarkably to 106 tons, picking up by 12% compared with the previous year's figure. The total import volume increased at an average annual rate of +8.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 16%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of buttons; of plastics, not covered with textile materials rose markedly to $2.6M in 2022. The total import value increased at an average annual rate of +9.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 10% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in years to come.

Top Suppliers of Buttons; of Plastics, Not Covered with Textile Material to South Korea in 2022:

1. China (56.0 tons)
2. Japan (26.6 tons)
3. Vietnam (17.3 tons)
4. Indonesia (5.2 tons)

Source: IndexBox Market Intelligence Platform