Eastern Asia: Market for Solar Cells and Light-Emitting Diodes 2025

Market Size for Solar Cells and Light-Emitting Diodes in Eastern Asia

The East Asian market for solar cells and light-emitting diodes expanded sharply to $X in 2022, with an increase of 11% against the previous year. Overall, consumption, however, saw a pronounced downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Solar Cells and Light-Emitting Diodes in Eastern Asia

In value terms, solar cells and light-emitting diodes production reduced modestly to $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +24.2% against 2018 indices. The growth pace was the most rapid in 2016 when the production volume increased by 29% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Solar Cells and Light-Emitting Diodes

Exports in Eastern Asia

Solar cells and light-emitting diodes exports dropped remarkably to X units in 2022, declining by -16.5% on the year before. Overall, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 55% against the previous year. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, solar cells and light-emitting diodes exports declined to $X in 2022. The total export value increased at an average annual rate of +1.5% from 2012 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 exports increased by 31%. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

In 2022, China (X units) represented the key exporter of solar cells and light-emitting diodes, mixing up 81% of total exports. It was distantly followed by Hong Kong SAR (X units), committing a 16% share of total exports. South Korea (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the solar cells and light-emitting diodes exports, with a CAGR of +14.7% from 2012 to 2022. At the same time, South Korea (+13.3%) and Hong Kong SAR (+1.4%) displayed positive paces of growth. China (+25 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -21.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest solar cells and light-emitting diodes supplier in Eastern Asia, comprising 70% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an 8.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +5.0%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+3.6% per year) and South Korea (-1.9% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, increasing by 5.4% against the previous year. Overall, the export price, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2018 when the export price increased by 94%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Solar Cells and Light-Emitting Diodes

Imports in Eastern Asia

After ten years of growth, supplies from abroad of solar cells and light-emitting diodes decreased by -11.4% to X units in 2022. In general, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2014 when imports increased by 64%. The volume of import peaked at X units in 2021, and then declined in the following year.

In value terms, solar cells and light-emitting diodes imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 32% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of solar cells and light-emitting diodes, namely China, Hong Kong SAR and Japan, represented more than two-thirds of total import. It was distantly followed by South Korea (X units), generating a 5.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +41.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Hong Kong SAR ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 81% of total imports.

In terms of the main importing countries, Hong Kong SAR, with a CAGR of +2.5%, 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 import price in Eastern Asia amounted to $X per unit, growing by 3.6% against the previous year. Overall, the import price, however, showed a deep setback. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 South Korea ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-9.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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