The import of polypropylene to South Korea has demonstrated notable fluctuations over the past decade. From a high in 2013, the value saw a significant drop until 2016, followed by a period of recovery with some year-on-year variability. In 2023, the import value stood at approximately $28.72 million USD. Over the past two years, the year-on-year import values increased by 5.78% in 2022 and a marginal 0.48% in 2023. The five-year CAGR ending in 2023 reflects a slight decrease of -0.14% annually.
Key variations:
- 2013: +43.78%
- 2014: -23.05%
- 2015: -13.39%
- 2016: -18.7%
- 2017: +23.12%
- 2018: +7.51%
- 2019: -2.63%
- 2020: -16.57%
- 2021: +15.03%
- 2022: +5.78%
- 2023: +0.48%
Future Trend Analysis:
Forecasted values indicate a stable, modest upward trend with a 2028 forecast showing an import value around $29.35 million USD and a forecasted five-year CAGR of 0.4%. In anticipation of future trends, it is crucial to monitor global polypropylene supply chains, trade policies, and technological advancements in polymer usage and recycling, which may significantly impact import values.
