Republic of Korea: Bar Draw-Bench Market 2025

Bar Draw-Bench Market Size in Republic of Korea

The South Korean bar draw-bench market fell notably to $X in 2021, waning by -16.1% against the previous year. Over the period under review, consumption, however, enjoyed a prominent increase. Over the period under review, the market attained the maximum level at $X in 2020, and then fell sharply in the following year.

Bar Draw-Bench Production in Republic of Korea

In value terms, bar draw-bench production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 28%. Bar draw-bench production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Bar Draw-Bench Exports

Exports from Republic of Korea

In 2021, after two years of decline, there was significant growth in shipments abroad of draw-benches for bars, tubes, profiles, wire or the like, when their volume increased by 55% to X units. In general, exports, however, saw a deep setback. The pace of growth appeared the most rapid in 2015 when exports increased by 371%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, bar draw-bench exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2015 with an increase of 260%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X units), Italy (X units) and Vietnam (X units) were the main destinations of bar draw-bench exports from South Korea, with a combined 78% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +8.8%), while the other leaders experienced a decline.

In value terms, the largest markets for bar draw-bench exported from South Korea were China ($X), Vietnam ($X) and Thailand ($X), with a combined 84% share of total exports. Japan, Italy, Mexico and India lagged somewhat behind, together comprising a further 12%.

Italy, with a CAGR of +131.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average bar draw-bench export price stood at $X per unit in 2021, surging by 16% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bar draw-bench export price increased by +57.3% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 36%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.

Bar Draw-Bench Imports

Imports into Republic of Korea

In 2021, imports of draw-benches for bars, tubes, profiles, wire or the like into South Korea plummeted to X units, waning by -41.9% compared with 2020 figures. In general, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2018 with an increase of 106% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, bar draw-bench imports reduced remarkably to $X in 2021. Over the period under review, imports recorded a deep downturn. The growth pace was the most rapid in 2018 with an increase of 91%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest bar draw-bench supplier to South Korea, with a 68% share of total imports. Moreover, bar draw-bench imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. The third position in this ranking was held by Italy (X units), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-14.3% per year) and Italy (-31.0% per year).

In value terms, Germany ($X), China ($X) and Japan ($X) constituted the largest bar draw-bench suppliers to South Korea, with a combined 90% share of total imports.

Germany, with a CAGR of -1.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average bar draw-bench import price stood at $X per unit in 2021, with an increase of 32% against the previous year. In general, the import price continues to indicate a mild increase. The most prominent rate of growth was recorded in 2014 an increase of 73% against the previous year. The import price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+16.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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