Republic of Korea: Moulds For Metal Market 2024

Moulds For Metal Market Size in Republic of Korea

The South Korean moulds for metal market fell to $X in 2022, with a decrease of -9.9% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Moulds For Metal Production in Republic of Korea

In value terms, moulds for metal production declined to $X in 2022 estimated in export price. Overall, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +9.4% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 42% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Moulds For Metal Exports

Exports from Republic of Korea

Moulds for metal exports from South Korea declined slightly to X tons in 2022, falling by -2.3% compared with 2021 figures. Overall, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +5.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, moulds for metal exports fell slightly to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 23%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of moulds for metal exports from South Korea, with a combined 46% share of total exports. Indonesia, the United States, Qatar, India, Mexico, Poland, Thailand, the United Arab Emirates, Saudi Arabia and New Zealand lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +74.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and Japan ($X) appeared to be the largest markets for moulds for metal exported from South Korea worldwide, together comprising 56% of total exports. India, Mexico, Indonesia, the United States, Thailand, Poland, Qatar, Saudi Arabia, New Zealand and the United Arab Emirates lagged somewhat behind, together comprising a further 24%.

Qatar, with a CAGR of +38.7%, saw 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 moulds for metal export price stood at $X per ton in 2022, leveling off at the previous year. Overall, the export price recorded a pronounced downturn. The growth pace was the most rapid in 2020 when the average export price increased by 6.6%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+0.2%), while the prices for the other major destinations experienced a decline.

Moulds For Metal Imports

Imports into Republic of Korea

In 2022, moulds for metal imports into South Korea dropped to X tons, waning by -8% compared with the previous year. Overall, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 34% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, moulds for metal imports reduced to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 38%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of moulds for metal to South Korea, with a 85% share of total imports. Moreover, moulds for metal imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold. Japan (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+30.8% per year) and Japan (-3.5% per year).

In value terms, China ($X) constituted the largest supplier of moulds for metals to South Korea, comprising 54% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports. It was followed by Germany, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.1% per year) and Germany (+7.8% per year).

Import Prices by Country

The average moulds for metal import price stood at $X per ton in 2022, standing approx. at the previous year. Overall, import price indicated a remarkable increase from 2012 to 2022: its price 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, moulds for metal import price increased by +43.4% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 32%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform