Republic of Korea: Ball Pen Refill Market 2024

Ball Pen Refill Market Size in Republic of Korea

The South Korean ball pen refill market rose significantly to $X in 2021, growing by 7.2% against the previous year. Over the period under review, consumption, however, recorded a significant expansion. Ball pen refill consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Ball Pen Refill Production in Republic of Korea

In value terms, ball pen refill production expanded markedly to $X in 2021 estimated in export price. Overall, production, however, posted a significant increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 66% against the previous year. Ball pen refill production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Ball Pen Refill Exports

Exports from Republic of Korea

In 2021, shipments abroad of refills for ball-point pens increased by 33% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of 103%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, ball pen refill exports surged to $X in 2021. Overall, exports, however, continue to indicate a slight decrease. The pace of growth appeared the most rapid in 2017 with an increase of 122%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units) was the main destination for ball pen refill exports from South Korea, with a 47% share of total exports. Moreover, ball pen refill exports to Japan exceeded the volume sent to the second major destination, China (X units), sixfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to +9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-9.6% per year) and Taiwan (Chinese) (+23.6% per year).

In value terms, Japan ($X) remains the key foreign market for refills for ball-point pens exports from South Korea, comprising 53% of total exports. The second position in the ranking was held by China ($X), with an 11% share of total exports. It was followed by Taiwan (Chinese), with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-10.5% per year) and Taiwan (Chinese) (+1.6% per year).

Export Prices by Country

In 2021, the average ball pen refill export price amounted to $X per unit, shrinking by -3.8% against the previous year. Overall, the export price, however, saw a tangible expansion. The pace of growth appeared the most rapid in 2016 an increase of 58%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Thailand (less than $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 the Philippines (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Pen Refill Imports

Imports into Republic of Korea

After two years of growth, purchases abroad of refills for ball-point pens decreased by -45.7% to X units in 2021. Overall, imports, however, saw a temperate increase. The most prominent rate of growth was recorded in 2017 when imports increased by 103% against the previous year. Imports peaked at X units in 2020, and then dropped sharply in the following year.

In value terms, ball pen refill imports fell to $X in 2021. Over the period under review, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 37%. Over the period under review, imports attained the peak figure at $X in 2020, and then reduced in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of ball pen refill to South Korea, accounting for a 73% share of total imports. Moreover, ball pen refill imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.3% per year) and Germany (-22.6% per year).

In value terms, Japan ($X) constituted the largest supplier of refills for ball-point pens to South Korea, comprising 77% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.2% per year) and Germany (+3.7% per year).

Import Prices by Country

In 2021, the average ball pen refill import price amounted to $X per unit, increasing by 64% against the previous year. Over the period under review, the import price posted temperate growth. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+34.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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