The market is dominated by foreign suppliers, as imports account for 53.1% of total market size in 2023. B2B drives market demand, with B2B spending representing 98.6% of total demand in 2023. South Korea has the sixth largest market size for spinning of textile fibres; weaving of textiles regionally, with demand reaching USD6.9 billion in 2023. Ilshin Spinning Co Ltd is the largest company in South Korea, generating 3.4% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 14.8% of total production value in 2023. The total number of companies decreases in 2023, to 5,693 units. The costs of the industry decrease by 1.8% in 2023, largely driven by declining B2B costs. The industry’s profitability decreases and stands at 3.0% of production value in 2023, the 17th highest regionally. The industry’s exports share decreases in 2023 to 49.6% of total production output. With production value of USD6.3 billion, South Korea accounts for 1.2% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Spinning of Textile Fibres; Weaving of Textiles in South Korea: ISIC 1711. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Spinning of Textile Fibres; Weaving of Textiles in South Korea: ISIC 1711 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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