Report Update: May 1, 2024

Republic of Korea - Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends and Insights

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Stranded Wire Price in South Korea - 2022

Stranded Wire Price in South Korea (FOB) - 2022

The average stranded wire export price stood at $3,084 per ton in December 2022, declining by -9.4% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 when the average export price increased by 6.3% m-o-m. As a result, the export price reached the peak level of $3,404 per ton, and then contracted in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was China ($4,621 per ton), while the average price for exports to Taiwan (Chinese) ($1,890 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Stranded Wire Price in South Korea (CIF) - 2022

The average stranded wire import price stood at $1,581 per ton in December 2022, declining by -8.3% against the previous month. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in March 2022 when the average import price increased by 8.1% month-to-month. As a result, import price attained the peak level of $1,938 per ton. From April 2022 to December 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($2,223 per ton), while the price for China ($1,380 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.2%), while the prices for the other major suppliers experienced a decline.

Stranded Wire Exports in South Korea

Stranded wire exports from South Korea declined modestly to 204K tons in 2022, standing approx. at the previous year. Overall, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 0.4%.

In value terms, stranded wire exports fell to $550M in 2022. Over the period under review, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 13%.

Export of Stranded Wire in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	147	128	117	121	-6.3%
United States	91.1	65.4	96.1	85.5	-2.1%
Japan	52.7	44.1	43.7	41.2	-7.9%
Taiwan (Chinese)	57.5	34.3	31.9	33.8	-16.2%
Thailand	18.3	15.5	21.6	19.3	1.8%
Belgium	20.3	17.5	18.5	16.5	-6.7%
Singapore	22.6	17.0	15.8	16.3	-10.3%
Spain	23.2	14.0	17.0	15.9	-11.8%
Netherlands	18.9	10.8	16.8	15.0	-7.4%
Germany	17.6	15.8	12.5	13.4	-8.7%
Poland	16.2	15.7	13.5	13.3	-6.4%
Turkey	9.0	19.0	13.2	12.0	10.1%
Mexico	11.7	9.7	13.4	11.9	0.6%
Others	142	111	151	135	-1.7%
Total	648	517	582	550	-5.3%

Top Export Markets for Stranded Wire from South Korea in 2022:

United States (31.1K tons)
China (28.6K tons)
Japan (19.8K tons)
Taiwan (Chinese) (13.5K tons)
Thailand (8.6K tons)
Singapore (8.5K tons)
Belgium (7.3K tons)
Spain (6.9K tons)
Poland (6.4K tons)
Netherlands (5.7K tons)
Turkey (5.3K tons)
Mexico (5.2K tons)
Germany (5.2K tons)

Stranded Wire Imports in South Korea

In 2022, the amount of stranded wire, ropes and cables imported into South Korea reduced to 162K tons, waning by -12.5% against 2021 figures. The total import volume increased at an average annual rate of +2.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 37% against the previous year. As a result, imports reached the peak of 185K tons, and then shrank in the following year.

In value terms, stranded wire imports shrank to $282M in 2022. The total import value increased at an average annual rate of +3.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 40%. As a result, imports attained the peak of $329M, and then contracted in the following year.

Import of Stranded Wire in South Korea (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	157	160	254	210	10.2%
Vietnam	45.0	37.1	48.2	39.2	-4.5%
Malaysia	20.9	6.3	0.9	7.5	-28.9%
Others	29.2	32.0	25.7	24.9	-5.2%
Total	252	235	329	282	3.8%

Top Suppliers of Stranded Wire to South Korea in 2022:

China (129.2K tons)
Vietnam (21.6K tons)
Malaysia (7.1K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the stranded wire market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)
Prodcom 25931150 - Iron or steel plaited bands, slings and the like (excluding electrically insulated)
Prodcom 25931250 - Copper stranded wire, cables, plaited bands and the like excluding electrically insulated, barbed wire and loosely twisted non-barbed double fencing wire, insulated electric wire and cables
Prodcom 25931270 - Aluminium stranded wire, cables, plaited bands and the like excluding electrically insulated, barbed wire and loosely twisted non-barbed double fencing wire, insulated electric wire and cables

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023