Asia PC Market Trade Evolution
In recent years, the global PC capacity growth has been concentrated in Asia. At present, Asia remains as an important production base whose PC capacity takes up about 70% of the total in the world. The major production areas in Asia are still China, South Korea, Thailand, Japan and Taiwan of China. The resource circulation is close among regions within Asia, and the relation with Europe and the U.S. has also become more active in recent years.
Global PC capacity keeps growing with a five-year CAGR of 4.2%.
In recent five years, the global PC capacity has showed a steady uptrend, mainly benefiting from the capacity growth in China. In 2021, the global PC capacity increased by about 6% Y-O-Y. China, the U.S. and South Korea remained as the top 3 producers in the world. The capacity at the top 3 PC enterprises occupied 53% of the total in the world, down 3% Y-O-Y.
Asian PC trading is active with intensive production areas.
Asia has many PC production bases. The capacity in China, South Korea and Thailand took up 54% of the global total in 2021, and most production bases still maintained net export.
By the end of 2021, the capacity in South Korea took up 11% of the global total, down 1% Y-O-Y. After the capacity expansion in 2019, its PC net exports rose notably and reached a peak of 644kt in 2020, but it dropped by 3% in 2021.
South Korea has a relatively wide trade scope in Asia. From 2017 to 2021, the CAGR of its PC export volume to India was as high as 25%, and that of the export volume to Vietnam was 10%. In Europe and the U.S., although the trade scope is relatively narrow, its export volume has kept increasing. From 2017 to 2021, the CAGR of its PC export volume to Hungary, Mexico and the U.S. reached 24%, 12% and 11% respectively.
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