Vulcanised Rubber Thread Market in South Korea
Market Overview
In 
, after two years of growth, there was decline in the South Korean vulcanised rubber thread market, when its value decreased by -% to $. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.
, after two years of growth, there was decline in the South Korean vulcanised rubber thread market, when its value decreased by -% to $. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.Consumption
In , approx. tons of vulcanised rubber thread and cord were consumed in South Korea; growing by % compared with the previous year's figure. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak volume of tons. From 2015 to , the growth of the consumption remained at a lower figure.
The size of the vulcanised rubber thread market in South Korea dropped to $ in , reducing 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 relatively flat trend pattern. Over the period under review, the market reached the maximum level at $ in 2011; however, from 2012 to , consumption remained at a lower figure.
, approx. tons of vulcanised rubber thread and cord were consumed in South Korea; growing by % compared with the previous year's figure. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak volume of tons. From 2015 to , the growth of the consumption remained at a lower figure.The size of the vulcanised rubber thread market in South Korea dropped to $
in , reducing 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 relatively flat trend pattern. Over the period under review, the market reached the maximum level at $ in 2011; however, from 2012 to , consumption remained at a lower figure.Market Forecast
The vulcanised rubber thread market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year 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 eight-year 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
Vulcanised rubber thread market in South Korea consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant 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 remained relatively constant over the period under review.Trade Balance
South Korea remains a net importer of vulcanised rubber thread; 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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