Republic of Korea: Printing Press Market 2024

Printing Press Market Size in Republic of Korea

The South Korean printing press market declined rapidly to $X in 2022, falling by -30.3% against the previous year. Over the period under review, consumption, however, enjoyed strong growth. Over the period under review, the market reached the peak level at $X in 2021, and then reduced notably in the following year.

Printing Press Production in Republic of Korea

In value terms, printing press production fell notably to $X in 2022 estimated in export price. In general, production, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 226% against the previous year. Printing press production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Printing Press Exports

Exports from Republic of Korea

In 2022, overseas shipments of printing presses decreased by -41.8% to X units for the first time since 2019, thus ending a two-year rising trend. In general, total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 51% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, printing press exports contracted notably to $X in 2022. Over the period under review, total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +4.5% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 53%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units), Bangladesh (X units) and Vietnam (X units) were the main destinations of printing press exports from South Korea, together accounting for 46% of total exports. Mexico, the United States, Japan, Thailand, Canada, Turkey, Indonesia and the Philippines lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +37.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for printing presses exports from South Korea, comprising 43% of total exports. The second position in the ranking was held by Vietnam ($X), with a 10% share of total exports. It was followed by Bangladesh, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+4.4% per year) and Bangladesh (+11.3% per year).

Export Prices by Country

The average printing press export price stood at $X per unit in 2022, rising by 17% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 52%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 the Philippines ($X per unit), while the average price for exports to Canada ($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 Philippines (+28.7%), while the prices for the other major destinations experienced more modest paces of growth.

Printing Press Imports

Imports into Republic of Korea

In 2022, purchases abroad of printing presses decreased by -45.1% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. As a result, imports attained the peak of X units, and then fell significantly in the following year.

In value terms, printing press imports fell to $X in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 33%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Japan (X units) constituted the largest printing press supplier to South Korea, accounting for a 60% share of total imports. Moreover, printing press imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.7% per year) and Taiwan (Chinese) (+22.7% per year).

In value terms, Japan ($X), Germany ($X) and China ($X) constituted the largest printing press suppliers to South Korea, with a combined 86% share of total imports.

China, with a CAGR of +15.6%, 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

The average printing press import price stood at $X per unit in 2022, with an increase of 65% against the previous year. Over the period under review, the import price, however, recorded a noticeable slump. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, 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 China ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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