Republic of Korea: Market for Machines For The Manufacture Of Flat Panel Displays 2022

Market Size for Machines For The Manufacture Of Flat Panel Displays in Republic of Korea

After three years of decline, the South Korean panel display manufacturing machine market increased by 44% to $X in 2021. In general, consumption enjoyed a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Machines For The Manufacture Of Flat Panel Displays in Republic of Korea

In value terms, panel display manufacturing machine production soared to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a resilient increase. The growth pace was the most rapid in 2015 when the production volume increased by 72%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Machines For The Manufacture Of Flat Panel Displays

Exports from Republic of Korea

In 2021, overseas shipments of machines for the manufacture of flat panel displays decreased by -8.4% to X units, falling for the third consecutive year after two years of growth. In general, exports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 318%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, panel display manufacturing machine exports shrank markedly to $X in 2021. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2013 with an increase of 238%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for panel display manufacturing machine exports from South Korea, accounting for a 85% share of total exports. Moreover, panel display manufacturing machine exports to China exceeded the volume sent to the second major destination, Vietnam (X units), eightfold.

From 2012 to 2021, the average annual growth rate of volume to China totaled +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+39.1% per year) and Japan (-4.5% per year).

In value terms, China ($X) remains the key foreign market for panel display manufacturing machine exports from South Korea, comprising 93% of total exports. The second position in the ranking was held by Vietnam ($X), with a 5.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+54.9% per year) and Japan (-12.2% per year).

Export Prices by Country

The average panel display manufacturing machine export price stood at $X per unit in 2021, shrinking by -26.1% against the previous year. Over the period under review, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 174% against the previous year. The export price peaked at $X per unit in 2020, and then fell notably in the following year.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while the average price for exports to Japan ($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 (+11.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machines For The Manufacture Of Flat Panel Displays

Imports into Republic of Korea

Panel display manufacturing machine imports into South Korea reduced notably to X units in 2021, with a decrease of -67.2% against the year before. Overall, imports showed a abrupt downturn. The growth pace was the most rapid in 2016 with an increase of 363% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, panel display manufacturing machine imports contracted sharply to $X in 2021. Over the period under review, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2016 when imports increased by 372%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of panel display manufacturing machine to South Korea, with a 56% share of total imports. Moreover, panel display manufacturing machine imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Japan amounted to -16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.1% per year) and Taiwan (Chinese) (+28.6% per year).

In value terms, Japan ($X) constituted the largest supplier of panel display manufacturing machine to South Korea, comprising 59% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 27% share of total imports. It was followed by China, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to -15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+49.0% per year) and China (-1.7% per year).

Import Prices by Country

In 2021, the average panel display manufacturing machine import price amounted to $X per unit, picking up by 35% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China ($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) (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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