Republic of Korea: Market for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators 2024

Market Size for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Republic of Korea

The South Korean nickel and lithium accumulators market surged to $X in 2022, picking up by 195% against the previous year. In general, consumption recorded a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Republic of Korea

In value terms, nickel and lithium accumulators production rose to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 67%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Exports from Republic of Korea

In 2022, exports of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators from South Korea surged to X units, picking up by 30% compared with the year before. Overall, exports showed strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 50%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, nickel and lithium accumulators exports skyrocketed to $X in 2022. Over the period under review, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), Germany (X units) and China (X units) were the main destinations of nickel and lithium accumulators exports from South Korea, with a combined 43% share of total exports. Japan, Hungary, Poland, France, Mexico, India, Belgium, Hong Kong SAR, Vietnam and Italy lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +125.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators exports from South Korea, comprising 47% of total exports. The second position in the ranking was held by Germany ($X), with a 14% share of total exports. It was followed by Vietnam, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+34.5% per year) and Vietnam (+9.4% per year).

Export Prices by Country

The average nickel and lithium accumulators export price stood at $X per unit in 2022, shrinking by -2.1% against the previous year. Overall, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2018 an increase of 12%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Hungary ($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 Vietnam (+2.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Imports into Republic of Korea

In 2022, supplies from abroad of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators increased by 212% to X units, rising for the sixth consecutive year after two years of decline. Over the period under review, imports recorded significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nickel and lithium accumulators imports skyrocketed to $X in 2022. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 103%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main supplier of nickel and lithium accumulators to South Korea, with a 94% share of total imports. It was followed by the United States (X units), with a 2.3% share of total imports. Japan (X units) ranked third in terms of total imports with a 1% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +35.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+25.2% per year) and Japan (-6.3% per year).

In value terms, China ($X) constituted the largest supplier of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators to South Korea, comprising 94% of total imports. The second position in the ranking was taken by the United States ($X), with a 2.3% share of total imports. It was followed by Japan, with a 1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +30.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+20.9% per year) and Japan (-9.5% per year).

Import Prices by Country

In 2022, the average nickel and lithium accumulators import price amounted to $X per unit, with a decrease of -45.9% against the previous year. Over the period under review, the import price showed a perceptible slump. The pace of growth appeared the most rapid in 2016 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then shrank markedly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per unit) and Japan ($X per unit), while the price for China ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :