Republic of Korea: Table-Tennis Equipment Market 2024

Table-Tennis Equipment Market Size in Republic of Korea

In 2022, the South Korean table-tennis equipment market decreased by -55.6% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption recorded a pronounced contraction. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Table-Tennis Equipment Exports

Exports from Republic of Korea

In 2022, approx. X tons of articles and equipment for table-tennis were exported from South Korea; waning by -11.9% compared with the year before. Overall, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -24.6% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 74% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, table-tennis equipment exports expanded remarkably to $X in 2022. Over the period under review, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 108% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), China (X tons) and Australia (X tons) were the main destinations of table-tennis equipment exports from South Korea, with a combined 72% 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 Australia (with a CAGR of +31.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for articles and equipment for table-tennis exports from South Korea, comprising 33% of total exports. The second position in the ranking was taken by Japan ($X), with a 16% share of total exports. It was followed by Vietnam, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +32.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+10.4% per year) and Vietnam (-1.2% per year).

Export Prices by Country

In 2022, the average table-tennis equipment export price amounted to $X per ton, growing by 23% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, table-tennis equipment export price decreased by -9.5% against 2020 indices. The growth pace was the most rapid in 2019 an increase of 35%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Australia ($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 Germany (+37.4%), while the prices for the other major destinations experienced more modest paces of growth.

Table-Tennis Equipment Imports

Imports into Republic of Korea

In 2022, table-tennis equipment imports into South Korea reduced modestly to X tons, approximately mirroring the previous year. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 42%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, table-tennis equipment imports surged to $X in 2022. In general, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of table-tennis equipment to South Korea, accounting for a 74% share of total imports. Moreover, table-tennis equipment imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.7% per year) and Japan (+6.9% per year).

In value terms, the largest table-tennis equipment suppliers to South Korea were Japan ($X), China ($X) and Germany ($X), with a combined 93% share of total imports.

Japan, with a CAGR of +5.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 table-tennis equipment import price amounted to $X per ton, rising by 56% against the previous year. In general, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, table-tennis equipment import price decreased by -22.1% against 2018 indices. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 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 Japan ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+34.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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