Republic of Korea: Tungsten Halogen Lamp Market 2024

Tungsten Halogen Lamp Market Size in Republic of Korea

In 2021, after two years of decline, there was significant growth in the South Korean tungsten halogen lamp market, when its value increased by 8% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Tungsten Halogen Lamp Production in Republic of Korea

In value terms, tungsten halogen lamp production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a slight descent. The growth pace was the most rapid in 2016 with an increase of 17% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Tungsten Halogen Lamp Exports

Exports from Republic of Korea

In 2021, shipments abroad of tungsten halogen lamps was finally on the rise to reach X units after six years of decline. Over the period under review, exports, however, continue to indicate a deep slump. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, tungsten halogen lamp exports expanded remarkably to $X in 2021. In general, exports, however, continue to indicate a noticeable slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units), Germany (X units) and Brazil (X units) were the main destinations of tungsten halogen lamp exports from South Korea, with a combined 38% share of total exports. These countries were followed by Mexico, India, Turkey, China, Belgium, Poland, Saudi Arabia, Japan, Latvia and the United Arab Emirates, which together accounted for a further 39%.

From 2012 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Latvia (with a CAGR of +94.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tungsten halogen lamp exported from South Korea were the United States ($X), Germany ($X) and Mexico ($X), together comprising 39% of total exports. Brazil, China, India, Japan, Turkey, Belgium, Poland, Saudi Arabia, the United Arab Emirates and Latvia lagged somewhat behind, together accounting for a further 42%.

Latvia, with a CAGR of +94.5%, 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 tungsten halogen lamp export price stood at $X per unit in 2020, rising by 6.9% against the previous year. In general, the export price saw 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 by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+0.3%), while the prices for the other major destinations experienced a decline.

Tungsten Halogen Lamp Imports

Imports into Republic of Korea

In 2021, after four years of decline, there was significant growth in supplies from abroad of tungsten halogen lamps, when their volume increased by 5.1% to X units. In general, imports, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2016 when imports increased by 22% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, tungsten halogen lamp imports expanded modestly to $X in 2021. Overall, imports, however, showed a deep reduction. The growth pace was the most rapid in 2013 when imports increased by 10% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2020, China (X units) constituted the largest tungsten halogen lamp supplier to South Korea, with a 53% share of total imports. Moreover, tungsten halogen lamp imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold. The third position in this ranking was taken by the United States (X units), with an 8% share.

From 2012 to 2020, the average annual growth rate of volume from China totaled -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-20.1% per year) and the United States (-1.7% per year).

In value terms, the largest tungsten halogen lamp suppliers to South Korea were China ($X), Germany ($X) and the United States ($X), with a combined 83% share of total imports. Japan lagged somewhat behind, comprising a further 7.6%.

Japan, with a CAGR of +1.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average tungsten halogen lamp import price stood at $X per unit in 2020, waning by -4% against the previous year. Over the period under review, the import price showed a perceptible descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 15% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2020, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, 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 2020, the most notable rate of growth in terms of prices was attained by Japan (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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