The market is dominated by domestic suppliers, as imports account for 32.4% of total market size in 2022. B2B drives market demand, with B2B spending representing 72.1% of total demand in 2022. South Korea has the fifth largest market size for carpets and rugs regionally, with demand reaching USD388 million in 2022. Hyosung Corp is the largest company in South Korea, generating 15.1% of the industry’s total production value in 2022. The industry is fragmented, with the top four companies generating 17.6% of total production value in 2022. The total number of companies decreases in 2022, to 145 units. The costs of the industry decrease by 14.4% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 19.2% of production value in 2022, the sixth highest regionally. The industry’s exports share increases in 2022 to 10.1% of total production output. With production value of USD283 million, South Korea accounts for 1.7% of the Asia Pacific total in 2022.
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This Euromonitor industrial report provides unique information on Carpets and Rugs in South Korea: ISIC 1722. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Carpets and Rugs in South Korea: ISIC 1722 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of cordage, rope, twine and netting, finishing of textiles, made-up textile articles, spinning of textile fibers; weaving of textiles, tanning and dressing of leather, and technical textiles, labels, badges and other textile products.
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