Republic of Korea: Encased Lead Pencil Market 2024

Encased Lead Pencil Market Size in Republic of Korea

The South Korean encased lead pencil market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption posted a notable expansion. Encased lead pencil consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Encased Lead Pencil Production in Republic of Korea

In value terms, encased lead pencil production skyrocketed to $X in 2021 estimated in export price. Overall, production continues to indicate a pronounced increase. The pace of growth appeared the most rapid in 2017 with an increase of 184%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Encased Lead Pencil Exports

Exports from Republic of Korea

In 2021, after two years of growth, there was significant decline in overseas shipments of pencils and crayons with leads encased in a rigid sheath, when their volume decreased by -5.3% to X units. The total export volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 26%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, encased lead pencil exports rose significantly to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 19%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for encased lead pencil exports from South Korea, with a 49% share of total exports. Moreover, encased lead pencil exports to the United States exceeded the volume sent to the second major destination, South Africa (X units), fivefold. The third position in this ranking was held by Vietnam (X units), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +21.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-5.3% per year) and Vietnam (+38.1% per year).

In value terms, the United States ($X) remains the key foreign market for encased lead pencil exports from South Korea, comprising 52% of total exports. The second position in the ranking was held by Japan ($X), with a 7.9% share of total exports. It was followed by South Africa, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+3.8% per year) and South Africa (-4.9% per year).

Export Prices by Country

The average encased lead pencil export price stood at $X per unit in 2021, rising by 12% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per unit), while the average price for exports to South Africa ($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 Turkey (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Encased Lead Pencil Imports

Imports into Republic of Korea

In 2021, the amount of pencils and crayons with leads encased in a rigid sheath imported into South Korea surged to X units, rising by 17% compared with 2020. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 27% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, encased lead pencil imports surged to $X in 2021. Over the period under review, total imports indicated buoyant growth 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. The most prominent rate of growth was recorded in 2015 with an increase of 48% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest encased lead pencil supplier to South Korea, with a 73% share of total imports. Moreover, encased lead pencil imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), sevenfold. Mexico (X units) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+11.6% per year) and Mexico (+10.4% per year).

In value terms, China ($X) constituted the largest supplier of encased lead pencil to South Korea, comprising 48% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.8% per year) and Indonesia (+10.7% per year).

Import Prices by Country

In 2021, the average encased lead pencil import price amounted to $X per unit, picking up by 7.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 17%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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