Republic of Korea - Tyres for Motor Cars - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Passenger Car Tyre Market 2024
Passenger Car Tyre Market Size in Republic of Korea
The South Korean passenger car tyre market dropped to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then fell in the following year.
Passenger Car Tyre Production in Republic of Korea
In value terms, passenger car tyre production contracted modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.
Passenger Car Tyre Exports
Exports from Republic of Korea
For the third year in a row, South Korea recorded decline in shipments abroad of tyres for motor cars, which decreased by X% to X units in 2022. In general, exports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.
In value terms, passenger car tyre exports rose rapidly to $X in 2022. Over the period under review, exports showed a perceptible curtailment. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
The United States (X units) was the main destination for passenger car tyre exports from South Korea, accounting for a X% share of total exports. Moreover, passenger car tyre exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. Germany (X units) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Germany (X% per year).
In value terms, the United States ($X) remains the key foreign market for tyres for motor cars exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Germany, with a X% share.
From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Germany (X% per year).
Export Prices by Country
The average passenger car tyre export price stood at $X per unit in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per unit) and Russia ($X per unit), while the average price for exports to France ($X per unit) and Italy ($X per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.
Passenger Car Tyre Imports
Imports into Republic of Korea
In 2022, approx. X units of tyres for motor cars were imported into South Korea; falling by X% on the year before. In general, imports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, passenger car tyre imports contracted to $X in 2022. Overall, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.
Imports by Country
In 2022, Thailand (X units) constituted the largest supplier of passenger car tyre to South Korea, accounting for a X% share of total imports. Moreover, passenger car tyre imports from Thailand exceeded the figures recorded by the second-largest supplier, Portugal (X units), threefold. China (X units) ranked third in terms of total imports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (X% per year) and China (X% per year).
In value terms, Thailand ($X) constituted the largest supplier of tyres for motor cars to South Korea, comprising X% of total imports. The second position in the ranking was taken by Portugal ($X), with an X% share of total imports. It was followed by China, with a X% share.
From 2012 to 2022, the average annual growth rate of value from Thailand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (X% per year) and China (X% per year).
Import Prices by Country
In 2022, the average passenger car tyre import price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per unit) and the United States ($X per unit), while the price for Italy ($X per unit) and Thailand ($X per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the passenger car tyre market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 22111100 - New pneumatic rubber tyres for motor cars (including for racing cars)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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