Republic of Korea: Market for Dentist And Barber Chairs 2024

Market Size for Dentist And Barber Chairs in Republic of Korea

The South Korean dentist or barber chair market soared to $X in 2022, jumping by 18% against the previous year. In general, consumption continues to indicate strong growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Dentist And Barber Chairs in Republic of Korea

In value terms, dentist or barber chair production expanded markedly to $X in 2022 estimated in export price. Overall, production recorded a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 63% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Dentist And Barber Chairs

Exports from Republic of Korea

In 2022, approx. X units of dentist and barber chairs were exported from South Korea; dropping by -23.3% compared with the year before. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 31%. Over the period under review, the exports reached the peak figure at X units in 2021, and then shrank sharply in the following year.

In value terms, dentist or barber chair exports fell rapidly to $X in 2022. The total export value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 40% against the previous year. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Japan (X units) was the main destination for dentist or barber chair exports from South Korea, with a 62% share of total exports. Moreover, dentist or barber chair exports to Japan exceeded the volume sent to the second major destination, the United States (X units), fourfold. Spain (X units) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.5% per year) and Spain (+11.6% per year).

In value terms, Japan ($X) remains the key foreign market for dentist and barber chairs exports from South Korea, comprising 58% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Spain, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.6% per year) and Spain (+15.4% per year).

Export Prices by Country

In 2022, the average dentist or barber chair export price amounted to $X per unit, rising by 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to the United Arab Emirates ($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 the United States (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dentist And Barber Chairs

Imports into Republic of Korea

In 2022, after four years of decline, there was significant growth in supplies from abroad of dentist and barber chairs, when their volume increased by 7.7% to X units. Over the period under review, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 94% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, dentist or barber chair imports skyrocketed to $X in 2022. Overall, imports, however, faced a abrupt decrease. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of dentist or barber chair to South Korea, with a 68% share of total imports. Moreover, dentist or barber chair imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The United States (X units) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+28.5% per year) and the United States (+5.9% per year).

In value terms, the largest dentist or barber chair suppliers to South Korea were Japan ($X), China ($X) and the United States ($X), with a combined 78% share of total imports. Germany lagged somewhat behind, comprising a further 11%.

Germany, with a CAGR of +39.9%, 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 more modest paces of growth.

Import Prices by Country

The average dentist or barber chair import price stood at $X per unit in 2022, growing by 54% against the previous year. Over the period under review, the import price recorded a prominent expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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