The import of mats of glass fibres to South Korea has seen fluctuations over the past decade. From 2013 to 2017, there was a noticeable decline in import values. However, 2018 showed a significant rebound with a 30.77% year-on-year increase. The years 2019 and 2020 experienced declines again, but the trend reversed in 2021 with a 22.75% increase. The overall CAGR from 2021 to 2023 shows a modest growth, reflecting a stabilization in the market.
As of 2023, the import value stands at 18.708 million USD, indicating a steady year-on-year increase of approximately 1.75%. Looking forward, the forecast data suggests a modest CAGR of 1.35% from 2024 to 2028, with an overall growth rate of 6.95% over these five years, indicating a slow but steady upward trend.
Future trends to watch for:
- Technological advancements in glass fibres and related industries that could impact demand.
- Potential trade policies and tariffs affecting import costs and values.
- Economic factors in South Korea influencing industrial use and construction, which are major consumers of glass fibre mats.
- Global supply chain disruptions that might affect the availability and pricing of glass fibre mats.
