Eastern Asia: Winding Wire Market 2024

Winding Wire Market Size in Eastern Asia

In 2022, the East Asian winding wire market increased by X% to $X, rising for the second year in a row after four years of decline. Overall, consumption showed a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Winding Wire Production in Eastern Asia

In value terms, winding wire production fell to $X in 2022 estimated in export price. Over the period under review, production saw a perceptible shrinkage. The growth pace was the most rapid in 2021 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Winding Wire Exports

Exports in Eastern Asia

In 2022, shipments abroad of winding wire for electrical purposes decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of export peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, winding wire exports amounted to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

China was the key exporting country with an export of around X tons, which accounted for X% of total exports. It was distantly followed by South Korea (X tons), committing a X% share of total exports. Taiwan (Chinese) (X tons), Hong Kong SAR (X tons) and Japan (X tons) held a relatively small share of total exports.

China was also the fastest-growing in terms of the winding wire for electrical purposes exports, with a CAGR of X% from 2012 to 2022. Japan (X%), South Korea (X%), Taiwan (Chinese) (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese), South Korea and Hong Kong SAR saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest winding wire supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Winding Wire Imports

Imports in Eastern Asia

After two years of growth, overseas purchases of winding wire for electrical purposes decreased by X% to X tons in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, winding wire imports contracted slightly to $X in 2022. Total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Japan was the key importer of winding wire for electrical purposes in Eastern Asia, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. China (X tons) took the second position in the ranking, distantly followed by Hong Kong SAR (X tons) and South Korea (X tons). All these countries together took near X% share of total imports. Taiwan (Chinese) (X tons) took a relatively small share of total imports.

Japan was also the fastest-growing in terms of the winding wire for electrical purposes imports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. By contrast, South Korea (X%), China (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of Japan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and Hong Kong SAR ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

In terms of the main importing countries, Japan, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform