Republic of Korea: Capacitor Market 2024

Capacitor Market Size in Republic of Korea

After two years of growth, the South Korean capacitor market decreased by -15.4% to $X in 2021. Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then dropped rapidly in the following year.

Capacitor Production in Republic of Korea

In value terms, capacitor production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.1% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 47%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Capacitor Exports

Exports from Republic of Korea

In 2021, exports of electrical capacitors from South Korea skyrocketed to X tons, jumping by 28% against the previous year's figure. In general, total exports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +19.8% against 2018 indices. The growth pace was the most rapid in 2013 when exports increased by 35%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, capacitor exports surged to $X in 2021. Over the period under review, total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +18.2% against 2018 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 26%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

China (X tons), Hong Kong SAR (X tons) and Vietnam (X tons) were the main destinations of capacitor exports from South Korea, with a combined 43% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +27.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for electrical capacitors exports from South Korea, comprising 35% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total exports. It was followed by Hong Kong SAR, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+41.0% per year) and Hong Kong SAR (+2.9% per year).

Export Prices by Country

The average capacitor export price stood at $X per ton in 2021, declining by -6.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2017 an increase of 13% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Capacitor Imports

Imports into Republic of Korea

In 2021, approx. X tons of electrical capacitors were imported into South Korea; growing by 19% against 2020. The total import volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, capacitor imports reached $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.1% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 20% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of capacitor to South Korea, accounting for a 66% share of total imports. Moreover, capacitor imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. Indonesia (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.9% per year) and Indonesia (+8.3% per year).

In value terms, the largest capacitor suppliers to South Korea were Japan ($X), China ($X) and Malaysia ($X), with a combined 83% share of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +16.2%, 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

In 2021, the average capacitor import price amounted to $X per ton, shrinking by -3.3% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 9.8% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then dropped modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :