Republic of Korea: Cellulose Pulp Machinery Market 2024

Cellulose Pulp Machinery Market Size in Republic of Korea

The South Korean cellulose pulp machinery market skyrocketed to $X in 2022, with an increase of 25% against the previous year. Over the period under review, consumption, however, faced a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Cellulose Pulp Machinery Production in Republic of Korea

In value terms, cellulose pulp machinery production skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 277%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Cellulose Pulp Machinery Exports

Exports from Republic of Korea

In 2022, after four years of growth, there was significant decline in shipments abroad of machinery for making pulp of fibrous cellulosic material, when their volume decreased by -19.1% to X units. In general, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 200%. The exports peaked at X units in 2021, and then plummeted in the following year.

In value terms, cellulose pulp machinery exports dropped rapidly to $X in 2022. Overall, exports, however, posted prominent growth. The growth pace was the most rapid in 2014 with an increase of 218% against the previous year. The exports peaked at $X in 2021, and then fell sharply in the following year.

Exports by Country

France (X units) was the main destination for cellulose pulp machinery exports from South Korea, with a 66% share of total exports. Moreover, cellulose pulp machinery exports to France exceeded the volume sent to the second major destination, Indonesia (X units), twofold. China (X units) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume to France stood at -18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+119.0% per year) and China (-4.0% per year).

In value terms, France ($X), Indonesia ($X) and China ($X) were the largest markets for cellulose pulp machinery exported from South Korea worldwide, together accounting for 94% of total exports.

France, with a CAGR of +1,150.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cellulose pulp machinery export price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 54% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to France ($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 Vietnam (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cellulose Pulp Machinery Imports

Imports into Republic of Korea

Cellulose pulp machinery imports into South Korea shrank significantly to X units in 2022, declining by -38.9% on the previous year. In general, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2021 with an increase of 500%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, cellulose pulp machinery imports declined markedly to $X in 2022. Over the period under review, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 329%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units), China (X units) and Germany (X units) were the main suppliers of cellulose pulp machinery imports to South Korea.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +11.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) constituted the largest supplier of machinery for making pulp of fibrous cellulosic material to South Korea, comprising 68% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.7% per year) and Germany (-8.8% per year).

Import Prices by Country

The average cellulose pulp machinery import price stood at $X per unit in 2022, leveling off at the previous year. In general, the import price, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 62% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 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 the United States (+5.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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