Reclaimed Rubber Market in South Korea
Market Overview
The South Korean reclaimed rubber market skyrocketed to $
in , picking up by % against 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 resilient expansion. Over the period under review, the market reached the peak level at $ in 2013; however, from 2014 to , consumption failed to regain momentum.
In value terms, reclaimed rubber production skyrocketed to $ in estimated in export price. Overall, production recorded moderate growth. The pace of growth appeared the most rapid in with an increase of % against the previous year. Over the period under review, production reached the maximum level at $ in 2013; however, from 2014 to , production stood at a somewhat lower figure.
in , picking up by % against 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 resilient expansion. Over the period under review, the market reached the peak level at $ in 2013; however, from 2014 to , consumption failed to regain momentum.In value terms, reclaimed rubber production skyrocketed to $
in estimated in export price. Overall, production recorded moderate growth. The pace of growth appeared the most rapid in with an increase of % against the previous year. Over the period under review, production reached the maximum level at $ in 2013; however, from 2014 to , production stood at a somewhat lower figure.Consumption
In , approx. tons of reclaimed rubber were consumed in South Korea; jumping by % compared with the previous year's figure. Overall, consumption saw a strong increase. Over the period under review, consumption hit record highs at tons in ; however, from to , consumption remained at a lower figure.
The revenue of the reclaimed rubber market in South Korea skyrocketed to $ in , increasing by % against 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). In general, consumption posted a buoyant expansion. Over the period under review, the market attained the maximum level at $ in 2013; however, from 2014 to , consumption remained at a lower figure.
, approx. tons of reclaimed rubber were consumed in South Korea; jumping by % compared with the previous year's figure. Overall, consumption saw a strong increase. Over the period under review, consumption hit record highs at tons in ; however, from to , consumption remained at a lower figure.The revenue of the reclaimed rubber market in South Korea skyrocketed to $
in , increasing by % against 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). In general, consumption posted a buoyant expansion. Over the period under review, the market attained the maximum level at $ in 2013; however, from 2014 to , consumption remained at a lower figure.Market Forecast
Driven by increasing demand for reclaimed rubber in South Korea, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.Trade Balance
South Korea remains a net importer of reclaimed rubber; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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