Market for Rubber-to-Metal and Moulded Article in South Korea
Market Overview
The South Korean rubber-to-metal and moulded article market surged to $
in , with an increase of % 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 resilient increase. Over the period under review, the market hit record highs at $ in 2019; however, from to , consumption stood at a somewhat lower figure.
In value terms, rubber-to-metal and moulded article production soared to $ in estimated in export price. Overall, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2012 with an increase of %. Rubber-to-metal and moulded article production peaked at $ in 2019; however, from to , production failed to regain momentum.
in , with an increase of % 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 resilient increase. Over the period under review, the market hit record highs at $ in 2019; however, from to , consumption stood at a somewhat lower figure.In value terms, rubber-to-metal and moulded article production soared to $
in estimated in export price. Overall, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2012 with an increase of %. Rubber-to-metal and moulded article production peaked at $ in 2019; however, from to , production failed to regain momentum.Consumption
In , consumption of rubber-to-metal and moulded articles in South Korea was estimated at tons, surging by % compared with figures. Overall, consumption showed a resilient expansion. Rubber-to-metal and moulded article consumption peaked at tons in 2019; however, from to , consumption stood at a somewhat lower figure.
The value of the rubber-to-metal and moulded article market in South Korea expanded significantly 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). In general, consumption continues to indicate buoyant growth. Over the period under review, the market attained the peak level at $ in 2019; however, from to , consumption stood at a somewhat lower figure.
, consumption of rubber-to-metal and moulded articles in South Korea was estimated at tons, surging by % compared with figures. Overall, consumption showed a resilient expansion. Rubber-to-metal and moulded article consumption peaked at tons in 2019; however, from to , consumption stood at a somewhat lower figure.The value of the rubber-to-metal and moulded article market in South Korea expanded significantly 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). In general, consumption continues to indicate buoyant growth. Over the period under review, the market attained the peak level at $ in 2019; however, from to , consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for rubber-to-metal and moulded articles in South Korea, the market is expected to continue an upward consumption trend over the next eight-year period. 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
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . South Korea domestic supply is expected to continue its growth.
% in 2007 to % in . South Korea domestic supply is expected to continue its growth.Trade Balance
South Korea remains a net exporter of rubber-to-metal and moulded article; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a trade surplus of tons, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
. In , there was a trade surplus of tons, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
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