Republic of Korea: Paperboard Container Machine Market 2024

Paperboard Container Machine Market Size in Republic of Korea

In 2022, the South Korean paperboard container machine market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a noticeable decrease. Paperboard container machine consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Paperboard Container Machine Production in Republic of Korea

In value terms, paperboard container machine production dropped to $X in 2022 estimated in export price. Overall, production saw a pronounced contraction. The most prominent rate of growth was recorded in 2019 with an increase of 65% against the previous year. Paperboard container machine production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Paperboard Container Machine Exports

Exports from Republic of Korea

In 2022, the amount of machines for making containers of paper or paperboard exported from South Korea reduced to X units, with a decrease of -8.9% on the year before. Over the period under review, exports continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2019 when exports increased by 85%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, paperboard container machine exports fell to $X in 2022. In general, exports recorded a mild decline. The most prominent rate of growth was recorded in 2019 with an increase of 62% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), Germany (X units) and Japan (X units) were the main destinations of paperboard container machine exports from South Korea, together accounting for 44% of total exports. These countries were followed by India, Turkey, China, Vietnam, Indonesia, the UK, Italy, Russia, France and the Netherlands, which together accounted for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +25.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paperboard container machine exported from South Korea were the United States ($X), Germany ($X) and Japan ($X), with a combined 43% share of total exports. These countries were followed by China, Turkey, India, Russia, Italy, the UK, Indonesia, Vietnam, France and the Netherlands, which together accounted for a further 34%.

Italy, with a CAGR of +28.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average paperboard container machine export price stood at $X per unit in 2022, surging by 3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2020 an increase of 13%. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to the Netherlands ($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 the UK (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Paperboard Container Machine Imports

Imports into Republic of Korea

After two years of decline, purchases abroad of machines for making containers of paper or paperboard increased by 0.4% to X units in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.6% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 93%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, paperboard container machine imports surged to $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -23.1% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 73%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and Vietnam (X units) were the main suppliers of paperboard container machine imports to South Korea, together accounting for 84% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +21.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and France ($X) were the largest paperboard container machine suppliers to South Korea, together comprising 78% of total imports. These countries were followed by Vietnam and Taiwan (Chinese), which together accounted for a further 13%.

Vietnam, with a CAGR of +23.8%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average paperboard container machine import price amounted to $X per unit, picking up by 15% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 29%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a lower figure.

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 France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :