Republic of Korea: Metal Deburring Machine Market 2024

Metal Deburring Machine Market Size in Republic of Korea

The South Korean metal deburring machine market expanded markedly to $X in 2021, growing by 6% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.6% against 2019 indices. Metal deburring machine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Metal Deburring Machine Production in Republic of Korea

In value terms, metal deburring machine production skyrocketed to $X in 2021 estimated in export price. In general, production posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 202% against the previous year. Metal deburring machine production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Metal Deburring Machine Exports

Exports from Republic of Korea

In 2021, the amount of machines for deburring or polishing metal exported from South Korea surged to X units, with an increase of 438% compared with the previous year. In general, exports enjoyed a prominent expansion. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, metal deburring machine exports skyrocketed to $X in 2021. Over the period under review, exports posted a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X units) was the main destination for metal deburring machine exports from South Korea, accounting for a 45% share of total exports. Moreover, metal deburring machine exports to Vietnam exceeded the volume sent to the second major destination, the United States (X units), fourfold. The third position in this ranking was taken by China (X units), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam stood at +60.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+19.4% per year) and China (-10.7% per year).

In value terms, Vietnam ($X), Hungary ($X) and the United States ($X) constituted the largest markets for metal deburring machine exported from South Korea worldwide, together accounting for 59% of total exports.

Hungary, with a CAGR of +157.7%, saw 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 more modest paces of growth.

Export Prices by Country

In 2021, the average metal deburring machine export price amounted to $X per unit, which is down by -15.2% against the previous year. In general, the export price saw a perceptible decline. The pace of growth was the most pronounced in 2020 an increase of 130%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hungary ($X per unit), while the average price for exports to Iraq ($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 Saudi Arabia (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Deburring Machine Imports

Imports into Republic of Korea

In 2021, imports of machines for deburring or polishing metal into South Korea soared to X units, jumping by 156% on the previous year's figure. Overall, imports enjoyed resilient growth. Over the period under review, imports reached the peak figure at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, metal deburring machine imports soared to $X in 2021. Over the period under review, imports, however, showed a deep reduction. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of metal deburring machine to South Korea, with a 79% share of total imports. Moreover, metal deburring machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), eightfold. The third position in this ranking was taken by Vietnam (X units), with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-10.2% per year) and Vietnam (+117.9% per year).

In value terms, the largest metal deburring machine suppliers to South Korea were Japan ($X), China ($X) and Switzerland ($X), with a combined 72% share of total imports. These countries were followed by Germany, Canada, the United States, Taiwan (Chinese) and Vietnam, which together accounted for a further 20%.

Among the main suppliers, Vietnam, with a CAGR of +71.5%, 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

The average metal deburring machine import price stood at $X per unit in 2021, falling by -28.7% against the previous year. In general, the import price continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2013 an increase of 23%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Switzerland ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+31.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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