Republic of Korea: Prisms And Mirrors Market 2025

Prisms And Mirrors Market Size in Republic of Korea

The South Korean prisms and mirrors market surged to $X in 2022, jumping by 47% against the previous year. Over the period under review, consumption enjoyed a significant expansion. Prisms and mirrors consumption peaked in 2022 and is expected to retain growth in the near future.

Prisms And Mirrors Production in Republic of Korea

In value terms, prisms and mirrors production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 12% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Prisms And Mirrors Exports

Exports from Republic of Korea

In 2022, shipments abroad of prisms and mirrors decreased by -14.3% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of 8.9% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, prisms and mirrors exports dropped notably to $X in 2022. In general, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2017 with an increase of 27%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Mexico (X tons) and China (X tons) were the main destinations of prisms and mirrors exports from South Korea, with a combined 65% share of total exports. The United States, Brazil, Hungary, India, Slovakia, Hong Kong SAR, Poland and Taiwan (Chinese) lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +65.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prisms and mirrors exported from South Korea were China ($X), Vietnam ($X) and Mexico ($X), with a combined 69% share of total exports. The United States, Hungary, Brazil, India, Slovakia, Hong Kong SAR, Taiwan (Chinese) and Poland lagged somewhat behind, together accounting for a further 24%.

India, with a CAGR of +53.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average prisms and mirrors export price stood at $X per ton in 2022, with a decrease of -7.6% against the previous year. Overall, the export price recorded a mild reduction. The most prominent rate of growth was recorded in 2017 an increase of 40%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Prisms And Mirrors Imports

Imports into Republic of Korea

In 2022, purchases abroad of prisms and mirrors decreased by -23.4% to X tons, falling for the fourth year in a row after three years of growth. In general, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 33% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, prisms and mirrors imports dropped to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 26%. Over the period under review, imports attained the peak figure at $X in 2021, and then fell slightly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest prisms and mirrors supplier to South Korea, accounting for a 65% share of total imports. Moreover, prisms and mirrors imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+2.0% per year) and the United States (-19.2% per year).

In value terms, Taiwan (Chinese) ($X), China ($X) and Japan ($X) appeared to be the largest prisms and mirrors suppliers to South Korea, together accounting for 77% of total imports.

Taiwan (Chinese), with a CAGR of +27.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average prisms and mirrors import price stood at $X per ton in 2022, increasing by 25% against the previous year. Over the period under review, the import price saw strong growth. The growth pace was the most rapid in 2020 an increase of 40% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+25.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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