Republic of Korea: Laser Market 2024

Laser Market Size in Republic of Korea

The South Korean laser market rose slightly to $X.5B in 2022, increasing by X% against the previous year. In general, consumption continues to indicate a remarkable increase. Laser consumption peaked at $X.6B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Laser Production in Republic of Korea

In value terms, laser production rose modestly to $X.9B in 2022 estimated in export price. Overall, production enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Laser production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Laser Exports

Exports from Republic of Korea

After five years of growth, shipments abroad of lasers, other than laser diodes decreased by X% to X units in 2022. In general, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by X%. The exports peaked at X units in 2021, and then dropped notably in the following year.

In value terms, laser exports dropped rapidly to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by X%. The exports peaked at $X in 2021, and then contracted notably in the following year.

Exports by Country

China (X units), the United States (X units) and Taiwan (Chinese) (X units) were the main destinations of laser exports from South Korea, with a combined X% share of total exports. Vietnam, India, Hungary, Japan, Germany, the Netherlands and Singapore lagged somewhat behind, together accounting for a further X%.

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

In value terms, China ($X) remains the key foreign market for lasers, other than laser diodes exports from South Korea, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the average laser export price amounted to $X per unit, jumping by X% against the previous year. In general, the export price posted a significant expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Vietnam ($X per unit) 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.

Laser Imports

Imports into Republic of Korea

In 2022, imports of lasers, other than laser diodes into South Korea rose rapidly to X units, surging by X% against the year before. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume 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 pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, laser imports expanded rapidly to $X in 2022. Overall, total imports indicated a resilient expansion 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 growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

Germany (X units), the United States (X units) and Japan (X units) were the main suppliers of laser imports to South Korea, together accounting for X% of total imports. China, the UK, Finland, Thailand and Taiwan (Chinese) 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 Finland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest laser suppliers to South Korea were the United States ($X), Germany ($X) and Japan ($X), together accounting for X% of total imports. The UK, China, Thailand, Finland and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Finland, with a CAGR of X%, saw the highest rates of growth with regard to 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 laser import price stood at $X per unit in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 Thailand ($X per unit), while the price for Taiwan (Chinese) ($X per unit) 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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