Republic of Korea: Reel Cutting Slitter Market 2024

Reel Cutting Slitter Market Size in Republic of Korea

The South Korean reel cutting slitter market reduced remarkably to $X in 2022, declining by -32.3% against the previous year. Overall, consumption, however, enjoyed prominent growth. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.

Reel Cutting Slitter Production in Republic of Korea

In value terms, reel cutting slitter production rose sharply to $X in 2022 estimated in export price. In general, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 76% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Reel Cutting Slitter Exports

Exports from Republic of Korea

In 2022, reel cutting slitter exports from South Korea skyrocketed to X units, increasing by 16% compared with 2021. In general, total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -25.4% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 26% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, reel cutting slitter exports soared to $X in 2022. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.5% against 2017 indices. The pace of growth was the most pronounced in 2017 when exports increased by 35% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X units), Japan (X units) and Indonesia (X units) were the main destinations of reel cutting slitter exports from South Korea, with a combined 49% share of total exports. The United States, India, China, Ecuador, Croatia, Turkey, Bangladesh, Nigeria and Thailand lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +54.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Vietnam ($X) and the United States ($X) were the largest markets for reel cutting slitter exported from South Korea worldwide, with a combined 48% share of total exports. These countries were followed by India, Indonesia, Croatia, China, Turkey, Ecuador, Bangladesh, Thailand and Nigeria, which together accounted for a further 24%.

Croatia, with a CAGR of +31.0%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the average reel cutting slitter export price amounted to $X per unit, approximately equating the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Croatia ($X per unit), while the average price for exports to Nigeria ($X 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 India (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Reel Cutting Slitter Imports

Imports into Republic of Korea

After two years of growth, overseas purchases of combined reel slitting and re-reeling cutting machines for paper and paperboard decreased by -24.2% to X units in 2022. Over the period under review, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 85% against the previous year. As a result, imports reached the peak of X units, and then shrank significantly in the following year.

In value terms, reel cutting slitter imports fell remarkably to $X in 2022. Overall, imports saw a pronounced shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 81% against the previous year. As a result, imports reached the peak of $X, and then reduced notably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest reel cutting slitter supplier to South Korea, accounting for a 66% share of total imports. Moreover, reel cutting slitter imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The third position in this ranking was held by Switzerland (X units), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.1% per year) and Switzerland (+10.5% per year).

In value terms, China ($X) constituted the largest supplier of combined reel slitting and re-reeling cutting machines for paper and paperboard to South Korea, comprising 56% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by Italy, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.3% per year) and Italy (+14.8% per year).

Import Prices by Country

In 2022, the average reel cutting slitter import price amounted to $X per unit, growing by 2.5% against the previous year. In general, the import price, however, showed a deep reduction. The pace of growth appeared the most rapid in 2016 an increase of 5%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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