Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in South Korea - 2022

Contents:

1. Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in South Korea (CIF) - 2022
2. Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in South Korea (FOB) - 2022
3. Imports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in South Korea
4. Exports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in South Korea

Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in South Korea (CIF) - 2022

In December 2022, the average import price for glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) amounted to $2,266 per ton, remaining relatively unchanged against the previous month. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in January 2022 an increase of 462% m-o-m. As a result, import price reached the peak level of $13,273 per ton. From February 2022 to December 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($8,128 per ton), while the price for China ($1,432 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 Malaysia (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in South Korea (FOB) - 2022

In December 2022, the average export price for glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) amounted to $2,200 per ton, shrinking by -7.9% against the previous month. Overall, the export price, however, recorded a slight expansion. The most prominent rate of growth was recorded in September 2022 when the average export price increased by 9.5% m-o-m. Over the period under review, the average export prices attained the maximum at $2,410 per ton in October 2022; however, from November 2022 to December 2022, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was China ($5,081 per ton), while the average price for exports to Italy ($1,220 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 India (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in South Korea

In 2022, imports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) into South Korea declined notably to 200K tons, with a decrease of -15.8% compared with the year before. Over the period under review, imports saw a mild shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 16% against the previous year. As a result, imports reached the peak of 237K tons, and then dropped remarkably in the following year.

In value terms, imports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) expanded to $578M in 2022. The total import value increased at an average annual rate of +8.9% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 20% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) to South Korea in 2022:

1. China (139.6K tons)
2. Malaysia (31.0K tons)
3. United States (6.3K tons)
4. Japan (6.3K tons)
5. Italy (5.1K tons)
6. Taiwan (Chinese) (4.9K tons)

Exports of Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) in South Korea

In 2022, after three years of growth, there was decline in shipments abroad of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics), when their volume decreased by -2.1% to 78K tons. The total export volume increased at an average annual rate of +10.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 29% against the previous year. As a result, the exports reached the peak of 80K tons, and then fell modestly in the following year.

In value terms, exports of glass fibres (including glass wool) and articles thereof (eg yarn, woven fabrics) amounted to $165M in 2022. The total export value increased at an average annual rate of +7.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 23%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Glass Fibres (Including Glass Wool) and Articles Thereof (Eg Yarn, Woven Fabrics) from South Korea in 2022:

1. Japan (15.9K tons)
2. United States (11.6K tons)
3. Vietnam (6.6K tons)
4. China (6.4K tons)
5. Germany (4.8K tons)
6. Italy (4.0K tons)
7. Belgium (3.3K tons)
8. India (2.7K tons)
9. Slovenia (2.5K tons)
10. Taiwan (Chinese) (2.0K tons)
11. Malaysia (2.0K tons)
12. Poland (1.7K tons)
13. Czech Republic (1.6K tons)

Source: IndexBox Market Intelligence Platform