Republic of Korea: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2024

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Republic of Korea

The South Korean market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) skyrocketed to $X in 2021, rising by 74% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +100.7% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Republic of Korea

In value terms, LCD or LED indicator panel production surged to $X in 2021 estimated in export price. Over the period under review, production, however, saw a sharp contraction. The most prominent rate of growth was recorded in 2018 with an increase of 421% against the previous year. Production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports from Republic of Korea

In 2021, after seven years of decline, there was significant growth in overseas shipments of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD), when their volume increased by 8.3% to X units. Over the period under review, exports, however, saw a dramatic descent. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, LCD or LED indicator panel exports fell to $X in 2021. Overall, exports, however, saw a significant decrease. The most prominent rate of growth was recorded in 2013 with an increase of 7.1%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X units), the United States (X units) and Thailand (X units) were the main destinations of LCD or LED indicator panel exports from South Korea, with a combined 77% share of total exports. The Philippines, India, Russia, Turkey, Japan, Hong Kong SAR, Vietnam and Brazil lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were in the Philippines (with a CAGR of +28.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest markets for LCD or LED indicator panel exported from South Korea worldwide, with a combined 52% share of total exports. Thailand, Hong Kong SAR, India, Turkey, Vietnam, the Philippines, Russia and Brazil lagged somewhat behind, together comprising a further 20%.

The Philippines, with a CAGR of +28.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) stood at $X per unit in 2021, which is down by -20.5% against the previous year. Over the period under review, the export price showed a pronounced descent. The growth pace was the most rapid in 2018 when the average export price increased by 38%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+35.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports into Republic of Korea

In 2021, supplies from abroad of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) increased by 84% to X units, rising for the second year in a row after three years of decline. Overall, imports recorded buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, LCD or LED indicator panel imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a abrupt downturn. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of LCD or LED indicator panel to South Korea, with a approx. 96% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +5.9%.

In value terms, China ($X) constituted the largest supplier of LCD or LED indicator panel to South Korea.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -17.1%.

Import Prices by Country

The average import price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) stood at $X per unit in 2021, reducing by -22.5% against the previous year. Over the period under review, the import price saw a dramatic contraction. The pace of growth was the most pronounced in 2019 when the average import price increased by 2.2% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -21.7% per year.

Source: IndexBox Platform

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