Republic of Korea: Copper Stranded Wire Market 2024

Copper Stranded Wire Market Size in Republic of Korea

The South Korean copper stranded wire market dropped to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Copper Stranded Wire Production in Republic of Korea

In value terms, copper stranded wire production shrank to $X in 2022 estimated in export price. In general, the total production indicated a temperate 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Copper stranded wire production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Copper Stranded Wire Exports

Exports from Republic of Korea

In 2022, overseas shipments of copper stranded wire, cables and plaited bands decreased by X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, copper stranded wire exports expanded remarkably to $X in 2022. In general, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

China (X tons) was the main destination for copper stranded wire exports from South Korea, accounting for a X% share of total exports. It was followed by Vietnam (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X) remains the key foreign market for copper stranded wire, cables and plaited bands exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The average copper stranded wire export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price recorded a mild increase. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Stranded Wire Imports

Imports into Republic of Korea

In 2022, approx. X tons of copper stranded wire, cables and plaited bands were imported into South Korea; remaining constant against 2021. In general, imports, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, copper stranded wire imports skyrocketed to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Vietnam (X tons) and France (X tons) were the main suppliers of copper stranded wire imports to South Korea, with a combined X% share of total imports. The United States and Japan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and France ($X) constituted the largest copper stranded wire suppliers to South Korea, together accounting for X% of total imports. Japan and Vietnam lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, 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 more modest paces of growth.

Import Prices by Country

The average copper stranded wire import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, import price indicated a buoyant expansion 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, copper stranded wire import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 Japan ($X per ton), while the price for Vietnam ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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