Republic of Korea: Copper Foil Market 2024

Copper Foil Market Size in Republic of Korea

In 2022, the South Korean copper foil market decreased by -58.9% to $X, falling for the fifth year in a row after two years of growth. Overall, consumption recorded a deep downturn. Copper foil consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Copper Foil Exports

Exports from Republic of Korea

Copper foil exports from South Korea rose slightly to X tons in 2022, with an increase of 5% compared with the previous year's figure. Overall, exports posted a strong expansion. The pace of growth was the most pronounced in 2021 when exports increased by 31%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, copper foil exports amounted to $X in 2022. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons), Poland (X tons) and the United States (X tons) were the main destinations of copper foil exports from South Korea, with a combined 69% share of total exports. Hungary, Japan, Malaysia, Vietnam, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +784.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for copper foil exports from South Korea, comprising 40% of total exports. The second position in the ranking was held by Poland ($X), with a 14% share of total exports. It was followed by the United States, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+150.9% per year) and the United States (+42.9% per year).

Export Prices by Country

The average copper foil export price stood at $X per ton in 2022, leveling off at the previous year. Overall, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper foil export price increased by +59.6% against 2015 indices. The most prominent rate of growth was recorded in 2018 an increase of 16%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Hungary ($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 Hong Kong SAR (+25.8%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Foil Imports

Imports into Republic of Korea

In 2022, after two years of growth, there was significant decline in overseas purchases of copper foil, when their volume decreased by -11% to X tons. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 16% against the previous year. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, copper foil imports shrank to $X in 2022. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +27.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest copper foil supplier to South Korea, accounting for a 60% share of total imports. Moreover, copper foil imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.6% per year) and Japan (+1.0% per year).

In value terms, the largest copper foil suppliers to South Korea were Japan ($X), China ($X) and Taiwan (Chinese) ($X), together comprising 81% of total imports. Malaysia, Luxembourg and Thailand lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, Thailand, with a CAGR of +31.2%, recorded 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 copper foil import price stood at $X per ton in 2022, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2021 when the average import price increased by 32%. As a result, import price attained the peak level of $X per ton, leveling off in the following year.

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 ($X per ton), while the price for China ($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 (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform