Republic of Korea: Electroplating Machine Market 2024

Electroplating Machine Market Size in Republic of Korea

In 2021, the South Korean electroplating machine market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a drastic downturn. Electroplating machine consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Electroplating Machine Production in Republic of Korea

In value terms, electroplating machine production declined to $X in 2021 estimated in export price. In general, production showed a mild downturn. The most prominent rate of growth was recorded in 2020 with an increase of 36%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Electroplating Machine Exports

Exports from Republic of Korea

After two years of growth, overseas shipments of machines for electroplating, electrolysis or electrophoresis decreased by -38.4% to X units in 2021. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 620% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2020, and then dropped notably in the following year.

In value terms, electroplating machine exports contracted sharply to $X in 2021. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 531%. Over the period under review, the exports attained the peak figure at $X in 2020, and then declined dramatically in the following year.

Exports by Country

Malaysia (X units), China (X units) and Hungary (X units) were the main destinations of electroplating machine exports from South Korea, together accounting for 91% 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 Hungary (with a CAGR of +122.7%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for electroplating machine exports from South Korea, comprising 60% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total exports. It was followed by Hungary, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +83.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+33.2% per year) and Hungary (+120.9% per year).

Export Prices by Country

The average electroplating machine export price stood at $X per unit in 2021, growing by 23% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electroplating machine export price increased by +69.8% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 27% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Hungary ($X per unit), while the average price for exports to Malaysia ($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 China (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Electroplating Machine Imports

Imports into Republic of Korea

Electroplating machine imports into South Korea contracted remarkably to X units in 2021, which is down by -25.1% against 2020 figures. In general, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 541%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, electroplating machine imports surged to $X in 2021. Overall, imports, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2017 when imports increased by 389% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest electroplating machine supplier to South Korea, with a 46% share of total imports. Moreover, electroplating machine imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. China (X units) ranked third in terms of total imports with a 20% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+6.2% per year) and China (-0.7% per year).

In value terms, Germany ($X) constituted the largest supplier of electroplating machine to South Korea, comprising 52% of total imports. The second position in the ranking was held by Japan ($X), with a 21% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.8% per year) and the United States (-10.3% per year).

Import Prices by Country

In 2021, the average electroplating machine import price amounted to $X per unit, increasing by 88% against the previous year. In general, the import price showed a remarkable increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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