Price for Electrical Insulators of Any Material in South Korea - 2021

Contents:

1. Price for Electrical Insulators of Any Material in South Korea (CIF) - 2022
2. Price for Electrical Insulators of Any Material in South Korea (FOB) - 2022
3. Imports of Electrical Insulators of Any Material in South Korea
4. Exports of Electrical Insulators of Any Material in South Korea

Price for Electrical Insulators of Any Material in South Korea (CIF) - 2022

In 2022, the average import price for electrical insulators of any materials amounted to $7.2 per unit, surging by 4.5% against the previous year. Overall, the import price, however, continues to indicate a perceptible reduction. The growth pace was the most rapid in 2015 when the average import price increased by 13%. Over the period under review, average import prices attained the peak figure at $9 per unit in 2012; however, from 2013 to 2022, 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 Italy ($37 per unit), while the price for Vietnam ($1.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Electrical Insulators of Any Material in South Korea (FOB) - 2022

In 2022, the average export price for electrical insulators of any materials amounted to $5.7 per unit, declining by -17.3% against the previous year. Over the period under review, the export price continues to indicate a slight setback. The pace of growth was the most pronounced in 2013 when the average export price increased by 73%. As a result, the export price attained the peak level of $12 per unit. From 2014 to 2022, the average export prices remained at a 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 Japan ($9.5 per unit), while the average price for exports to Taiwan (Chinese) ($3 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 the Philippines (-0.5%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Insulators of Any Material in South Korea

In 2022, after three years of growth, there was significant decline in purchases abroad of electrical insulators of any materials, when their volume decreased by -8.8% to 4.4M units. The total import volume increased at an average annual rate of +2.3% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 16% against the previous year. As a result, imports attained the peak of 4.8M units, and then contracted in the following year.

In value terms, electrical insulators of any material imports dropped modestly to $32M in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 10% against the previous year. As a result, imports reached the peak of $33M, and then contracted in the following year.

Top Suppliers of Electrical Insulators of Any Material to South Korea in 2022:

1. China (2661.6K units)
2. Vietnam (747.6K units)
3. Germany (133.5K units)
4. Switzerland (114.2K units)
5. France (97.0K units)
6. Sweden (75.4K units)
7. United States (70.4K units)
8. Japan (52.2K units)

Exports of Electrical Insulators of Any Material in South Korea

For the fourth year in a row, South Korea recorded growth in overseas shipments of electrical insulators of any materials, which increased by 5.4% to 2.8M units in 2022. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 182% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, electrical insulators of any material exports contracted to $16M in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 127%. The exports peaked at $19M in 2021, and then shrank in the following year.

Top Export Markets for Electrical Insulators of Any Material from South Korea in 2022:

1. Saudi Arabia (1052.9K units)
2. United States (727.9K units)
3. Taiwan (Chinese) (428.7K units)
4. Japan (59.3K units)
5. France (50.6K units)
6. Philippines (47.1K units)
7. Vietnam (44.6K units)

Source: IndexBox Market Intelligence Platform