Market for Vulcanised Cellular Rubber Articles in South Korea
Market Overview
In 
, after seven years of growth, there was significant decline in the South Korean vulcanised cellular rubber articles market, when its value decreased by -% to $. Overall, consumption, however, enjoyed a perceptible expansion. Vulcanised cellular rubber articles consumption peaked at $ in , and then dropped in the following year.
In value terms, vulcanised cellular rubber articles production totaled $ in estimated in export price. The total output value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2011 when the production volume increased by % against the previous year. Vulcanised cellular rubber articles production peaked at $ in ; however, from to , production stood at a somewhat lower figure.
, after seven years of growth, there was significant decline in the South Korean vulcanised cellular rubber articles market, when its value decreased by -% to $. Overall, consumption, however, enjoyed a perceptible expansion. Vulcanised cellular rubber articles consumption peaked at $ in , and then dropped in the following year.In value terms, vulcanised cellular rubber articles production totaled $
in estimated in export price. The total output value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2011 when the production volume increased by % against the previous year. Vulcanised cellular rubber articles production peaked at $ in ; however, from to , production stood at a somewhat lower figure.Consumption
In , consumption of vulcanised cellular rubber articles for technical uses decreased by -% to tons, falling for the second year in a row after four years of growth. In general, consumption, however, continues to indicate perceptible growth. As a result, consumption attained the peak volume of tons. From to , the growth of the consumption remained at a somewhat lower figure.
The size of the vulcanised cellular rubber articles market in South Korea reduced to $ in , which is down 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). Over the period under review, consumption, however, enjoyed a moderate increase. Over the period under review, the market hit record highs at $ in , and then dropped in the following year.
, consumption of vulcanised cellular rubber articles for technical uses decreased by -% to tons, falling for the second year in a row after four years of growth. In general, consumption, however, continues to indicate perceptible growth. As a result, consumption attained the peak volume of tons. From to , the growth of the consumption remained at a somewhat lower figure.The size of the vulcanised cellular rubber articles market in South Korea reduced to $
in , which is down 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). Over the period under review, consumption, however, enjoyed a moderate increase. Over the period under review, the market hit record highs at $ in , and then dropped in the following year.Market Forecast
Driven by increasing demand for vulcanised cellular rubber articles for technical uses 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
Driven by a growing demand, the share of imports in total supply in South Korea increased significantly over the last fifteen years (from % to %).
% to %).Trade Balance
South Korea remains a net exporter of vulcanised cellular rubber articles; 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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