The import of needleloom felt and stitchbonded fiber fabric to South Korea has seen significant growth over the past decade, with a notable increase from 195.72 thousand kilograms in 2013 to 2178.9 thousand kilograms in 2023. This represents an annual average growth rate (CAGR) of 26.16% over the last 5 years. However, it's important to note the fluctuation in year-on-year variations, peaking at 92.42% in 2016 and experiencing a downturn of -11.89% in 2020 due to market adjustments. The latest data shows a stable increase with a year-on-year variation of 4.91% in 2023. Forecasts suggest a continued upward trajectory, anticipating a volume of 2711.5 thousand kilograms by 2028, at a forecasted CAGR of 3.43%. Future trends to watch for include global supply chain adjustments and advancements in textile technology that may affect import volumes.
