Republic of Korea: Electric Soldering Iron Market 2025

Electric Soldering Iron Market Size in Republic of Korea

For the sixth year in a row, the South Korean electric soldering iron market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate a resilient increase. Electric soldering iron consumption peaked in 2022 and is likely to see steady growth in the near future.

Electric Soldering Iron Production in Republic of Korea

In value terms, electric soldering iron production stood at $X in 2022 estimated in export price. Overall, the total production indicated moderate growth 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electric Soldering Iron Exports

Exports from Republic of Korea

In 2022, exports of electric soldering irons and guns from South Korea shrank to X units, reducing by X% compared with 2021. Over the period under review, exports saw a sharp slump. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric soldering iron exports contracted notably to $X in 2022. Overall, exports showed a deep reduction. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X units), Vietnam (X units) and Singapore (X units) were the main destinations of electric soldering iron exports from South Korea, with a combined X% share of total exports. Malaysia, China, India, the United States, Thailand and the Philippines lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for electric soldering iron exported from South Korea were China ($X), Saudi Arabia ($X) and Vietnam ($X), with a combined X% share of total exports. India, Thailand, Singapore, Malaysia, the Philippines and the United States lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Malaysia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electric soldering iron export price stood at $X per unit in 2022, shrinking by X% against the previous year. Over the period under review, the export price, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Singapore ($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.

Electric Soldering Iron Imports

Imports into Republic of Korea

In 2022, purchases abroad of electric soldering irons and guns decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated mild growth 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 most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, electric soldering iron imports reduced rapidly to $X in 2022. In general, total imports indicated tangible growth 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. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted markedly in the following year.

Imports by Country

In 2022, Japan (X units) constituted the largest electric soldering iron supplier to South Korea, with a X% share of total imports. Moreover, electric soldering iron imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a X% share.

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

In value terms, the largest electric soldering iron suppliers to South Korea were Japan ($X), China ($X) and Malaysia ($X), with a combined X% share of total imports. Taiwan (Chinese), Mexico, Spain and the UK lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Mexico, with a CAGR of X%, 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

The average electric soldering iron import price stood at $X per unit in 2022, dropping 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. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average 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 China ($X per unit), while the price for the UK ($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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