Republic of Korea: Market for Machine-Tools For Working Stone, Ceramics, And Concrete 2025

Market Size for Machine-Tools For Working Stone, Ceramics, And Concrete in Republic of Korea

After two years of growth, the South Korean market for machine-tools for working stone, ceramics, and concrete decreased by -8.1% to $X in 2022. In general, consumption, however, enjoyed a strong expansion. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Machine-Tools For Working Stone, Ceramics, And Concrete in Republic of Korea

In value terms, machine tools for working stone production stood at $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 114% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Machine-Tools For Working Stone, Ceramics, And Concrete

Exports from Republic of Korea

After three years of decline, overseas shipments of machine-tools for working stone, ceramics, and concrete increased by 30% to X units in 2022. Over the period under review, exports, however, continue to indicate a pronounced descent. The pace of growth was the most pronounced in 2014 when exports increased by 356%. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, machine tools for working stone exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 222%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), China (X units) and the UK (X units) were the main destinations of machine tools for working stone exports from South Korea, together accounting for 95% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +49.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machine tools for working stone exported from South Korea were China ($X), the United States ($X) and the UK ($X), with a combined 92% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +52.5%, saw the highest rates of growth with regard to the value of exports, 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 export price for machine-tools for working stone, ceramics, and concrete amounted to $X per unit, reducing by -1.9% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the average export price increased by 50%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the United States ($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 China (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Stone, Ceramics, And Concrete

Imports into Republic of Korea

In 2022, overseas purchases of machine-tools for working stone, ceramics, and concrete decreased by -5.2% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 93%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, machine tools for working stone imports reduced to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 57% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machine tools for working stone to South Korea, with a 64% share of total imports. Moreover, machine tools for working stone 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 Spain (X units), with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.7% per year) and Spain (-4.2% per year).

In value terms, the largest machine tools for working stone suppliers to South Korea were China ($X), Japan ($X) and Spain ($X), together comprising 62% of total imports. Germany and Italy lagged somewhat behind, together accounting for a further 11%.

In terms of the main suppliers, Germany, with a CAGR of +12.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for machine-tools for working stone, ceramics, and concrete amounted to $X per unit, dropping by -8.5% against the previous year. In general, the import price saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 when the average import price increased by 21% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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 Italy (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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