Unvulcanised Rubber Market in South Korea
Market Overview
After two years of decline, the South Korean unvulcanised rubber market increased by 
% to $ in . Overall, consumption, however, saw a mild reduction. As a result, consumption reached the peak level of $. From 2012 to , the growth of the market failed to regain momentum.
In value terms, unvulcanised rubber production expanded notably to $ in estimated in export price. Overall, production, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by %. Over the period under review, production reached the maximum level at $ in 2011; however, from 2012 to , production stood at a somewhat lower figure.
% to $ in . Overall, consumption, however, saw a mild reduction. As a result, consumption reached the peak level of $. From 2012 to , the growth of the market failed to regain momentum.In value terms, unvulcanised rubber production expanded notably to $
in estimated in export price. Overall, production, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by %. Over the period under review, production reached the maximum level at $ in 2011; however, from 2012 to , production stood at a somewhat lower figure.Consumption
In , approx. tons of unvulcanised rubber were consumed in South Korea; waning by -% against the previous year. Over the period under review, consumption continues to indicate a noticeable decline. Unvulcanised rubber consumption peaked at tons in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.
The revenue of the unvulcanised rubber market in South Korea dropped slightly to $ in , remaining stable 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 recorded a slight decline. As a result, consumption reached the peak level of $. From 2012 to , the growth of the market failed to regain momentum.
, approx. tons of unvulcanised rubber were consumed in South Korea; waning by -% against the previous year. Over the period under review, consumption continues to indicate a noticeable decline. Unvulcanised rubber consumption peaked at tons in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.The revenue of the unvulcanised rubber market in South Korea dropped slightly to $
in , remaining stable 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 recorded a slight decline. As a result, consumption reached the peak level of $. From 2012 to , the growth of the market failed to regain momentum.Market Forecast
Depressed by shrinking demand for unvulcanised rubber in South Korea, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .
In value terms, the market is forecast to contract 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 depress the market volume to tons by the end of .In value terms, the market is forecast to contract 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
Over the period under review, imports of unvulcanised rubber in South Korea were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for unvulcanised rubber.
Trade Balance
South Korea remains a net exporter of unvulcanised rubber; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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