Republic of Korea: Aluminium Alloy Wire Market 2024

Aluminium Alloy Wire Market Size in Republic of Korea

The South Korean aluminium alloy wire market contracted to $X in 2022, which is down by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Aluminium Alloy Wire Production in Republic of Korea

In value terms, aluminium alloy wire production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

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Aluminium Alloy Wire Exports

Exports from Republic of Korea

Aluminium alloy wire exports from South Korea stood at X tons in 2022, increasing by X% on 2021 figures. In general, exports enjoyed perceptible growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, aluminium alloy wire exports declined to $X in 2022. Overall, exports enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X tons), Thailand (X tons) and Vietnam (X tons) were the main destinations of aluminium alloy wire exports from South Korea, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aluminium alloy wire exported from South Korea were Austria ($X), Thailand ($X) and Vietnam ($X), together accounting for X% of total exports.

In terms of the main countries of destination, Austria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average aluminium alloy wire export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price 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, aluminium alloy wire export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Alloy Wire Imports

Imports into Republic of Korea

In 2022, the amount of aluminium alloy wire imported into South Korea totaled X tons, increasing by X% against the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, aluminium alloy wire imports stood at $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Malaysia (X tons) were the main suppliers of aluminium alloy wire imports to South Korea, together comprising X% of total imports. The UK, Vietnam, Bahrain, the Netherlands, Thailand, the United States and Canada lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aluminium alloy wire suppliers to South Korea were China ($X), Japan ($X) and Malaysia ($X), with a combined X% share of total imports. The UK, the United States, the Netherlands, Vietnam, Bahrain, Thailand and Canada lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Thailand, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average aluminium alloy wire import price amounted to $X per ton, waning by X% against the previous year. In general, the import price showed a slight curtailment. The growth pace was the most rapid in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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