Republic of Korea: Gravimetric Filling Machine Market 2024

Gravimetric Filling Machine Market Size in Republic of Korea

The South Korean gravimetric filling machine market soared to $X in 2022, with an increase of 39% against the previous year. In general, consumption posted a significant expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Gravimetric Filling Machine Production in Republic of Korea

In value terms, gravimetric filling machine production surged to $X in 2022 estimated in export price. Over the period under review, production saw a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 774%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Gravimetric Filling Machine Exports

Exports from Republic of Korea

In 2022, approx. X units of automatic gravimetric filling machines were exported from South Korea; with a decrease of -48.3% on the previous year. Overall, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 237%. As a result, the exports attained the peak of X units, and then contracted notably in the following year.

In value terms, gravimetric filling machine exports shrank remarkably to $X in 2022. In general, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2019 with an increase of 137%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for gravimetric filling machine exports from South Korea, accounting for a 66% share of total exports. Moreover, gravimetric filling machine exports to the United States exceeded the volume sent to the second major destination, China (X units), tenfold. The third position in this ranking was taken by Japan (X units), with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-10.6% per year) and Japan (+8.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for automatic gravimetric filling machines exports from South Korea, comprising 70% of total exports. The second position in the ranking was held by China ($X), with a 6.8% share of total exports. It was followed by Japan, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +60.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-11.2% per year) and Japan (+7.6% per year).

Export Prices by Country

The average gravimetric filling machine export price stood at $X per unit in 2022, with an increase of 59% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per unit) and Poland ($X per unit), while the average price for exports to Japan ($X per unit) and India ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+51.8%), while the prices for the other major destinations experienced more modest paces of growth.

Gravimetric Filling Machine Imports

Imports into Republic of Korea

In 2022, the amount of automatic gravimetric filling machines imported into South Korea dropped significantly to X units, which is down by -31.4% compared with 2021 figures. Over the period under review, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 180% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then fell notably in the following year.

In value terms, gravimetric filling machine imports contracted slightly to $X in 2022. In general, imports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 137% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X units), China (X units) and Germany (X units) were the main suppliers of gravimetric filling machine imports to South Korea, with a combined 93% share of total imports. Taiwan (Chinese) and the United States lagged somewhat behind, together comprising a further 5.1%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +34.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gravimetric filling machine suppliers to South Korea were Japan ($X), China ($X) and Germany ($X), with a combined 95% share of total imports. Taiwan (Chinese) and the United States lagged somewhat behind, together accounting for a further 5.1%.

Taiwan (Chinese), with a CAGR of +48.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gravimetric filling machine import price stood at $X per unit in 2022, growing by 42% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 75%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+957.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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